BlueRoads, a San Mateo, Calif.-based provider of partner opportunity management solutions, has raised $6 million in Series E funding. ZenShin Capital led the round, and was joined by return backers ArrowPath Venture Capital, Cardinal Venture Capital and El Dorado Ventures. It had previously raised around $25 million.
BLUEROADS, a leading provider of Partner Opportunity Management (POM) solutions, announced today the company has secured an additional $6 million in venture financing. Led by ZenShin Capital, the series E financing will help BLUEROADS accelerate sales to medium and large corporations, including its expansion into additional vertical industry markets.
BLUEROADS manages nearly $50 billion per year in indirect sales opportunities for medium and large enterprises to optimize channel partner yield and effectiveness. “There is significant leverage for companies with large indirect sales channels in improving channel sales effectiveness. Investors recognize that companies that lead in addressing this opportunity will achieve attractive financial results,” said Shinya Akamine, CEO of BLUEROADS. “We are especially excited to be working with ZenShin, a firm which has strong relationships with leading international manufacturers.”
“We think that BLUEROADS is addressing a large market opportunity and has developed significant technology that enables customers with the largest, most complex channels to manage the numerous product lines, geographies, and programs in their channel with industry leading effectiveness and visibility,” said Yoji Kawaguchi, managing director of ZenShin Capital. “We are looking forward to the company’s expansion into a wide range of segments that could unleash major value in their existing channels by using the BLUEROADS solution.”
Joining ZenShin in this financing were venture firms ArrowPath Venture Capital, Cardinal Venture Capital and El Dorado Ventures.
About BLUEROADS Corporation
BLUEROADS Corporation delivers proven enterprise Partner Opportunity Management solutions that help organizations with complex, multi-dimensional channels market and sell more effectively. Customers like Avaya, Brocade, Polycom, Xerox and NetApp depend on BLUEROADS’ unique closed-loop system which empowers individual partner representatives to actively participate in sales and marketing processes. BLUEROADS strengthens the bond between vendors and their partners, achieving the mutually beneficial goals of increased conversion rates, revenue and market share. BLUEROADS is headquartered in San Mateo, California and is financed by ArrowPath Venture Capital, Cardinal Venture Capital, El Dorado Ventures, The Halo Fund and Zen-Shin Capital. For more information, please visit www.blueroads.com