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INSIDEVIEW SECURES $7.4 MILLION IN SERIES A FUNDING
June 4, 2007
Emergence Capital Partners Leads Investment to Accelerate Product Development and Sales and Marketing Expansion.
SAN BRUNO, CALIF. - June 5, 2007 - InsideView, the on-demand sales intelligence service provider, today announced it has secured $7.4 million in Series A funding. Emergence Capital Partners, a leading venture capital firm focused on early and growth stage Software-as-a-Service (SaaS) companies, led the round. Greenhouse Capital Partners and Rembrandt Venture Partners, who provided the company with its initial seed capital, participated in the financing as well.
InsideView also announced that Brian Jacobs, Emergence Capital Partners founder and general partner, and Jerry Casilli, general partner of Rembrandt Venture Partners are joining the Company's Board of Directors.
"We believe that InsideView has enormous market potential because it helps sales organizations keep their pipelines full with 'real opportunities' and find connections to key decision makers," said Jacobs. "InsideView meets the exceptional criteria we set for funding an organization - an innovative technology-enabled service company with the potential to significantly impact a very large market, a management team with a track record of building successful companies and the support of key industry partners. InsideView's customers are utilizing the company's proprietary aggregation technology to generate unique, actionable insights to enhance the effectiveness of their sales professionals. Emergence Capital believes that InsideView is in a great position to set the benchmark by which all other sales intelligence solutions will be measured."
"When we provided early stage funding to Umberto and his team almost a year ago we were very excited about the market potential for InsideView," said Casilli. "We continue to be pleased and impressed with the progress InsideView has made in the first half of 2007. We believe InsideView is the technology leader in Sales Intelligence today."
The new funding will be used to expand product development and grow the sales and marketing teams to accelerate the delivery of InsideView's comprehensive Opportunity Intelligence solution.
"Every sales organization is under pressure to be more productive, while at the same time companies continue to raise the bar on quotas," said Umberto Milletti, InsideView co-founder and CEO. "We believe that up to now no technology has succeeded in easing the sales burden. That's why we are confident that with our unique solution and the partnership of SaaS-focused and strategic investor Emergence Capital, we can build an industry transforming company."
About Emergence Capital Partners
Emergence Capital Partners is a leading venture capital firm focused on early and growth-stage Technology-Enabled Services (TES) investing. Our mission is to help build market leading, successful businesses in partnership with great entrepreneurs. Our focus and team-based approach allow us to create unique value for our service-based portfolio companies. Emergence investments include Salesforce.com, SuccessFactors, HireRight and many others. Information on Emergence Capital Partners is available at http://www.emcap.com/.
About Greenhouse Capital Partners
Greenhouse Capital Partners is a seed stage venture fund focused on investing in sophisticated emerging technologies. The fund, based in Sausalito, Calif., invests across all sectors including Software-as-a-Service (SaaS), digital media, wireless, and cleantech/alternative energy. Our General Partners possess extensive experience working directly with founders from the earliest stages of company creation, and currently sit on the Boards of Directors or Advisory Boards of Solaicx, InsideView, MongoNet, PVI Solutions and MeeVee. Please visit www.greenhousecapital.net.
About Rembrandt Venture Partners
Rembrandt was established as a formal venture fund in 2004 to provide private equity capital to early stage technology companies. The firm pursues investments in a variety of sectors including enterprise software and services, Internet infrastructure, communications, next generation wireless sectors and new media convergence companies. Rembrandt's General Partners are experienced and successful Silicon Valley investors and executives who capitalize on this opportunity. The General Partners have over 70 years of venture capital investment, operational, entrepreneurial and technical experience. Rembrandt's limited partners and advisors represent many leading West Coast technology companies. Visit www.rembrandtvc.com.
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