Provider of CRM Intelligence InsideView has secured $19 million in financing led by Split Rock Partners (News - Alert), with participation from the company’s existing investors, Emergence Capital, Foundation Capital and Rembrandt Venture Partners.
The company expects to use this latest investment to accelerate research and development and market expansion. Also, it is aiming to increase adoption of its CRM Intelligence Platform by B2B enterprises.
“This investment further validates the market opportunity for CRM Intelligence and provides us with the capital required to accelerate our market leadership in the space,” said Umberto Milletti, CEO at InsideView.
The addition of Split Rock to the team brings additional cloud-based software expertise, and a long-term perspective, Milletti said.
InsideView aims to provide data, insights and connections that enable organizations to find more leads, win more deals, and grow accounts. The company now joins many fast-growing companies in the Split Rock Software and Internet Services portfolio.
The companies in the portfolio have similar characteristics, as they are focussed on advanced technology solutions for today’s B2B enterprises. Moreover, are described as having strong business models that produce high gross margins, recurring revenue streams, and efficient methods of customer acquisition.
Jim Simons, managing director at Split Rock, said that InsideView has demonstrated a unique understanding of the marketing and sales process and how CRM can be improved to support it.
“The rapid growth of its customer base indicates a tremendous appetite for InsideView solutions, and our due diligence conversations with InsideView customers revealed a clear impact on revenue and productivity, to a degree we rarely, if ever, see,” Simmon said.
The InsideView CRM Intelligence Platform is designed to deliver recent, validated company and contact data, prospect and company insights and professional connections to sales and marketing professionals.
Three applications are built on the platform: InsideView for Marketing, InsideView for Sales, and InsideView for Account Management.
Earlier in May, the company introduced InsideView for Marketing, which works with CRM and marketing automation system.
Edited by Blaise McNamee