Cloud computing future enabler Cloutex has secured a seed round of funding. The Estonian tech startup closed its first seed round with $600,000 in investment.
Cloud computing future enabler Cloutex, seals the seed round with over half a million dollars.
Estonian tech startup Cloutex, which connects and syncs various web applications such as e-marketing, CRM and accounting tools under one convenient hub, closed their first seed round with $600,000 in investment.
The funds were raised together with United Partners, SmartCap and EstBan business angels. “Companies using Cloutex services have the opportunity to increase value of their current solutions by sharing information between them in a secure and scalable way,” says former Skype Estonia General Manager and angel investor Tiit Paananen, about his decision to invest in Cloutex.
With the pre-seed round backed by business angels Riivo Anton and Gerri Kodres and Startup Wise Guys respectively, Cloutex has accumulated a total investment of $700,000 within just a year after launch.
Cloutex promises to solve the headache of synchronizing web systems and cloud based management software with a fraction of the cost of custom solutions. “Services that are out there today come either with high development cost or with new data entry across platforms only, which isn’t actually synchronization,” explains founder and CEO Peeter Mark. “We’re revolutionizing the concept by bringing bi-directional full sync to the table while making it accessible for everyone.”
With a monthly fee of just $29, Cloutex delivers instant integration between CRM, accounting and e-commerce platforms. By skipping all the costly development fees, users need to provide their credentials, after which the data will be synced across all apps on the fly. Today integrated services include popular softwares like Salesforce for sales management, Quickbooks Online for accounting and Magento for e-commerce and many more.
Cloutex launched their service in spring 2013. Currently they are focused on market expansion in the U.S. by opening an office and hiring extra staff to continue building more connectors to their offered services portfolio.
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