Today Fredericton's Introhive announced that they have secured a $1.5 million investment from Build Ventures. This is the very first investment from the newly formed Build Ventures.
This new financing adds to the previously raised A round of $1.8 million and earlier seed funding. Build Ventures joins other investors in Introhive including Growthworks Atlantic, NBIF, Fortify VC and CIT GAP.
Introhive says that it will use the funds for sales team growth, new product development, and marketing activities "to reach and capture new market share with enterprise customers."
Introhive is helping companies find new customers and keep the ones they have with their platform. The Canadian startup says it 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 understand relationship strength and activity with clients and prospects, according to the company.
“The Introhive team has made incredible progress since founded less than 18 months ago,” says 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.”
“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,” added Jody Glidden, Introhive's founder. “Build Ventures experience as entrepreneurs and knowledge of enterprise customers makes them the ideal partner to help us grow.”