ATX Seed Ventures and the Central Texas Angel Network have invested $750,000 in FantasySalesTeam, which helps companies run sales contests. The funding builds on $750,000 the company raised in April 2014 from the same investors, for total funding of $1.5 million.
FantasySalesTeam, which helps companies of all sizes run more engaging and higher performing sales contests, has closed on $750,000 of additional capital, funded by ATX Seed Ventures, and the Central Texas Angel Network. This builds on $750,000 that the company raised in April 2014 from the same investors, for a total of $1.5 million to date.
FantasySalesTeam has developed a powerful online platform that facilitates increased sales activity and results through team-based competition. The company launched in June 2013 and has signed more than 100 customers, including enterprise companies such as HP, Comcast and CenturyLink as well as dozens of clients in the small and mid-sized market.
“I’m very pleased that our initial investors have decided to double-down,” said Adam Hollander, CEO, FantasySalesTeam. “It’s a privilege to have such supportive VCs and angels behind us and we’re thrilled to consistently be oversubscribed as we raise funds. We’re well positioned to continue our rapid growth as we move into 2015.”
“Transitioning from market entrance and product refinement to scaling sales and operations is very exciting,” said Chris Shonk, Managing Partner, ATX Seed Ventures. “We’re elated by the profound accomplishments that Adam and his team have made as well as our partnership’s expectations for the future.”
The concept of ‘gamification’ has really taken hold over the last several years. However, FantasySalesTeam’s goal has never been to simply ‘gamify’ sales. It has always been to create a new breed of sales contests; one that solves the problems that cause traditional incentive programs to underperform. FantasySalesTeam outlines those problems in this video showcasing the top three reasons sales contests fail.
Beyond having enthusiastic customers, the company has been receiving accolades from industry experts as well. FantasySalesTeam was recently named Richardson’s Top Sales Gamification Tool for the second year in a row, a Top 40 Selling Tool from Smart Selling Tools, and in December 2014 was featured on the cover of Incentive Magazine.
“FantasySalesTeam continues to push the limits when it comes to sales gamification. Most sales gamification tools are simply fancy leaderboards which tend only to motivate traditional top performers. FantasySalesTeam has proven that its unique game models and team-based contests are what make the difference when it comes to motivating the entire sales team and keeping them engaged longer,” said Jim Brodo, Senior VP, Richardson.
“Since our initial capital investment in April 2014 we’ve more than doubled our customer base and have made dozens of improvements to the core product,” said CEO Hollander. “These new funds and our expanding customer base will allow us to significantly scale our marketing and sales efforts in 2015 as well as continue to build on our award winning platform.”
Lots of companies run sales contests – but few drive meaningful improvement or results through them. That’s because there are a number of underlying problems with the way most traditional incentive programs are designed. FantasySalesTeam is a web based software application that allows sales managers to run more fun, more effective sales contests that keep reps engaged and yield improved results. Learn more at http://www.fantasysalesteam.com.
About ATX Seed Ventures
ATX Seed Ventures provides capital, contacts and experience for Entrepreneurs by Entrepreneurs. The fund’s ATX A-Team is a cadre of Austin’s most successful and influential entrepreneurs. We are hands-on partners for today’s most passionate entrepreneurs, together forging the promising companies of tomorrow.
About The Central Texas Angel Network
The Central Texas Angel Network is one of the leading Angel Networks in the nation, with over 120 individual Angel Investors. CTAN has invested over $45 million in over 100 companies since 2006.