VoloMetrix said it raised $3.3 million in a Series A financing led by Shasta Ventures. The company raised a seed round of $1.6 million from Shasta Ventures in April 2012. The new money will allow the company to expand the development of its Social Enterprise Intelligence applications and pursue new markets.
VoloMetrix Secures $3.3 Million to Capture New Markets for Social Enterprise Intelligence
Series A funding allows VoloMetrix to help more organizations manage costs and align resources with their strategic business priorities
Seattle, WA—April, 24 2013—Today, VoloMetrix – an enterprise SaaS company providing Social Enterprise Intelligence applications to improve organizational responsiveness and drive productivity – announced it raised $3.3 million in a Series A financing round led by Shasta Ventures. This builds upon the initial seed investment of $1.6 million from Shasta Ventures in April 2012. The latest infusion of capital will allow the company to expand development of its Social Enterprise Intelligence platform, pursue new markets, and expand further into organizational functions – including IT departments – to grow the company’s existing customer base.
“Across many of their corporate functions, large organizations are looking for tools to help them better align people resources with their most important business priorities,” said VoloMetrix CEO and co-founder Ryan Fuller. “This round of funding will allow us to expand the functionality of our core platform, respond to growing customer demand, and optimize SaaS modules designed to specifically address the needs of sales, engineering, and IT functions.”
VoloMetrix has already been deployed by several Global 1000 companies, helping them diagnose inefficiencies and align their most valuable assets – their people – with their business goals. The Social Enterprise Intelligence platform extracts and analyzes anonymous data from collaboration applications including email, calendars, instant messaging and enterprise social networks. Highly visual, easy-to-use reports enable enterprises to understand and manage where people and teams are focused, allowing them to reduce costs and achieve their business goals more effectively than ever before. Expanding on their core platform, VoloMetrix will deliver an application specifically designed for IT departments to better align and cost their IT services.
“VoloMetrix sits at the intersection of two mega trends in technology: Big Data and social analytics,” said Ravi Mohan, Managing Director of Shasta Ventures and VoloMetrix board member. “By exposing new data and applying innovative algorithms, they are enabling their customer organizations to reduce cost, improve productivity, and deliver better results.”
As part of their growth plan, VoloMetrix is hiring for positions in engineering, data science, sales and marketing. For more information, interested candidates can visit www.volometrix.com/careers .
For more information about VoloMetrix, please visit www.volometrix.com.
VoloMetrix is an enterprise SaaS company focused on providing applications to improve strategic alignment and execution. VoloMetrix analyzes anonymous, real-time information from a company’s email, calendar, instant messaging, and social platforms to provide deep insight into how teams are allocating time, where collaboration can improve across the organization, and which important business topics need a response. VoloMetrix results are delivered in quick, easy-to-digest views through its Enterprise Sociograph, Alignment Indexing and Realtime dashboards. The founding team and board have more than 50 years of experience helping the world’s largest companies solve strategic and organizational problems. For more information, visit www.volometrix.com.
About Shasta Ventures:
Shasta Ventures is a boutique, early-stage venture firm investing its third fund in consumer technology and enterprise start-ups. Shasta aims to partner with bold, creative entrepreneurs who have exceptional instincts and insights into the needs, desires and behaviors of the people who use their products. The firm is based in Menlo Park, California. Shasta Ventures has supported the founders of dozens of successful companies, including Apptio, Demdex, Lithium, Makara, Mint, Nest, Nextdoor, TaskRabbit, Turn, Zenprise and Zuora. For more information, please visit www.shastaventures.com, or follow us on Twitter at @shasta.