Big data startup and multi-functional software maker, Colabo, has raised USD 1.50 million in a fresh round of funding. The investment was led by The Hive with participation from Ray Rothrock, Paul Maritz and Raghu Raghuram.
The raised funds will be used for generating quality leads, accessing new data from any device (PC, TV, Mobile) and developing efficient business strategy.
San Carlos, California based startup, is a venture of CEO Yoav Dembak, CTO Asaf Wexler and COO Naama Halperin. It is known for providing solutions to online sales and marketing professionals that enables them to achieve a number of business objectives including lead generation, qualification and engagement solutions.
“This round will help us scale the product and company to continue this growth. Using Colabo, our customers have seen a 3X increase in monthly sales and a 50 per cent cut in sales cycles,” said Dembak.
The company’s previous startup, B-Hive was acquired by VMware in 2008. It was known for analyzing the data based on a series of graphs that automatically alerts users when changes occurs in tracked data.
“In a highly competitive round, Colabo chose The Hive to lead because of our deep background in the enterprise analytics space. We feel the CRM space is ripe for disruption by a next generation of data integration and predictive analytics solutions like Colabo,” said TM Ravi, the Hive founder.
The Hive, big data fund, is anchored by Patni family to launch data-driven business host events in the field of IT Technology. It helps entrepreneurs by providing them with initial capital, business and technical guidance to create sustainable business.
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