Introhive today announced a $1.5 million investment from Build Ventures.* This new financing adds to the previously raised Series A round of $1.8 million and earlier seed funding. Build Ventures joins other investors including Growthworks Atlantic, NBIF, Fortify Ventures and CIT GAP.
The company will use this new funding to accelerate the success Introhive is having with enterprise customers. The new capital will fund sales team growth, new product development and marketing activities to reach and capture new market share.
“The Introhive team has made incredible progress since founded less than 18 months ago,” said Patrick Keefe, managing partner at Build Ventures. “They’re solving real problems that impact tens of thousands of companies and they’re doing it quickly. We were really impressed by the company’s ability to execute.”
Introhive is helping companies find new customers and keep the ones they have with their platform. Introhive uncovers new sales opportunities and creates actionable insights for its customers by analyzing data that they already have. Sales teams are using Introhive to shorten sales cycles and truly understand relationship strength and activity with clients and prospects.
“Every company we talk to is trying to leverage data and analytics in their sales process. We get great feedback on our platform to help them achieve this,” commented Jody Glidden, founder and CEO. “Build Ventures experience as entrepreneurs and knowledge of enterprise customers makes them the ideal partner to help us grow.”
The funding news builds on three recent product announcements from Introhive. The company announced integration with the leading CRM platform last week as well as new mobile apps in May and the second evolution of the Introhive platform in April.
Introhive helps companies find new customers and keep the ones they have. We help companies unlock the connections and relationships of their employees to gain warm introductions for sales and measure relationship strength and activity with clients. This results in better customer success and more sales with less prospecting. Introhive is a venture-funded company that was founded in 2012. For more information, visit WWW.INTROHIVE.COM.
*Note: Innovacorp, on behalf of the Province of Nova Scotia, has commitment $15 million to Build Ventures, a privately managed venture capital fund targeting investment opportunities throughout the Atlantic provinces. Nova Scotia’s money was leveraged to $48.5 million at the fund’s first close. The other founding investors were New Brunswick ($15 million), Prince Edward Island ($2.5 million), BDC Venture Capital ($10 million), a Moncton-based private sector company, Technology Venture Corp. ($5 million), and the fund managers ($1 million).
Fredericton, New Brunswick, June 26, 2013