Arcus Capital Partners has led a $4 million Series B funding round in Wisegate, which provides advisory services for information technology senior professionals. Other participants in the funding round include Central Texas Angel Network, Atlanta Technology Angels, Golden Seeds and Cowtown Angels. Wisegate has raised a total of $8 million.
Wisegate, the next-generation advisory service for IT’s most senior professionals, today announced the completion of a Series B funding totaling $4 million, bringing total investment in the company to $8 million. Arcus Capital Partners led the round with participation from Series A investors including Central Texas Angel Network, Atlanta Technology Angels, Golden Seeds, and Cowtown Angels.
“Wisegate has hit on a massive need in the enterprise IT market to connect senior practitioners with their peers in order to provide real-time data and insights. The traditional analyst firm model of research and reporting cannot move at the pace of technology today, leaving a gap in the market that Wisegate’s social and matching algorithms help to fill. Wisegate helps IT help themselves and I am a big believer in this model and this team,” said Ross Singletary, Managing Partner of Arcus Capital Partners.
Wisegate is actively changing the model and economics of IT advisory services by fostering a pristine network of IT leaders, matching them to their peers to deliver actionable, trusted information, and then taking live conversations between people and turning them into searchable content in a matter of days. Wisegate’s approach relies on trust and this is why the company has a strict no-vendor policy and a vetted, senior-level IT membership.
“Just as we are selective in who can join our membership, we’ve also been very selective with our investors and are proud of the continued support and enthusiasm shown to us in this round. Our Series A allowed us to prove out our product in the market, and with the significant growth we’ve had along with renewal rates over 90%, we have done that and then some. This round will allow us to accelerate our growth,” said Sara Gates, Wisegate’s Founder and CEO.
With this investment, Wisegate plans to hire in the areas of product marketing, customer care and sales. The company is nearing profitability and has seen contract value more than double in the last two quarters alone. Wisegate is rapidly growing its membership through partnerships, direct marketing and sales, and continued word of mouth referrals from members.
At Wisegate, we’re passionate about unlocking the potential of the collective expertise of IT’s top professionals. We call it next generation IT advisory; our members call it a godsend. Through advanced matching and social technology, a trusted peer network and hands-on help, IT practitioners connect to share best practices and answer IT’s toughest questions, directly and without vendor influence. Wisegate curates these conversations into searchable content and formal reports as a service to its members, and often the outside world as well. See a list of our public reports and other wisdom unveiled here.