Colabo said Wednesday that it has received $1.5 million in funding. The investors included The Hive, Paul Maritz, Raghu Raghuram and Ray Rothrock. According to the firm, the capital will be used for growth. Colabo is a provider of solutions that help sales and marketing professionals generate and qualify leads.
SAN MATEO, California, May 7, 2014 /PRNewswire/ –
Colabo, a leading provider of Intelligent Sales Acceleration solutions, announced today that it has completed a $1.5 Million round of funding from Venture Capital firm, The Hive, together with top private investors including Paul Maritz, Raghu Raghuram, Ray Rothrock. The funds will be used to support the fast growth of its lead discovery and qualification platform.
Colabo’s Automated Sales Acceleration platform enables sales teams to discover and qualify leads using any 3rd party and proprietary signals. Colabo’s platform can integrate any web-browsable source which will then mine optimal leads, map new way for reach-out and qualify them while providing enrichment.
“We have been overwhelmed with customer demand for our lead discovery, qualification and engagement solutions and this round will help us scale the product and company to continue this growth,” said Yoav Dembak, CEO and Co-Founder of Colabo. “Using Colabo, our customers have seen a 3X increase in monthly sales and a 50% cut in sales cycles.”
“In a highly competitive round, Colabo chose The Hive to lead because of our deep background in the enterprise analytics space. We feel the CRM space is ripe for disruption by a next generation of data integration and predictive analytics solutions like Colabo. Colabo uniquely accesses, combines and analyzes any combination of internal enterprise data and third party data. This allows them to provide optimal warm leads with unparalleled conversion rates for their customers” said T.M. Ravi, Founder of The Hive.
Colabo is a powerful, multi-functional software that enables professionals across all industries to achieve a number of business objectives including: lead qualification, lead generation, and trend prediction. Colabo gathers data from any web-browsable source and displays them on one easy-to-use dashboard. Colabo analyzes the data and automatically alerts you when significant changes occur in the sources that are being tracked. Additionally, Colabo visualizes the sources on a series of graphs that help you better understand the data at hand.