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News : Former BlackBerry Execs Score Series B Financing for CRM Software Startup
Ottawa, Canada, July 9, 2015 -- Two former BlackBerry insiders have raised money in a series B financing for their three-year-old startup, Introhive.
The company is based in Fredericton, N.B., where some 20-odd developers (many of them ex-BlackBerry staffers) are located, but it is run out of Washington by Canadian-born co-founders Jody Glidden and Stewart Walchli. It will use the proceeds to expand its sales team and its relationships with key partners. The financiers include Salesforce.com, which converted an earlier debenture into equity, Halifax-based Build Ventures and Tech Equity Partners, which invests on behalf of primarily Silicon Valley-based limited partners.
Introhive was partly inspired by the frustrations Mr. Glidden and Mr. Walchli experienced after the smartphone provider bought their previous company, enterprise application developer Chalk Media Corp. in 2009 (they left BlackBerry in 2011 and 2012, respectively). Once inside the BlackBerry tent, they tried to expand Chalk’s business with Fortune 500 customers by tapping internal colleagues with those connections. "But the way BlackBerry had grown up it was really hard to figure out who knew the right people at the client that I was trying to get into," Mr. Walchli said. "The first idea was: How do we automate who knows who in an enterprise?"
The Introhive software constantly monitors a user’s corporate e-mail, social media accounts and mobile phone, mining for duplicates, updated contact information and even new relationships contacts have developed. It will identify who knows who, who’s getting to know who and even which customers need a bit more love because the user hasn’t been in touch lately. Users get a weekly notification from Introhive and can update everything with the push of a button. "It sounds mundane but the amount of time savings we create for organizations is through the roof," Mr. Walchli claims.
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Finding The Right Vendor
Introhive is a Canadian relationship capital company that has developed systems that utilize existing CRM, contact book and social networking connections within a company, enabling organisations to develop what Introhive refers to as 'warm introductions', rather than relying on sales and marketing cold calls. It was established in Fredericton and now has a number of offices, including a headquarters in Washington D.C..
Published: Friday, July 10, 2015