Influitive Raises Unusual $3.75 Million Seed Round From 11 Investors For Customer Advocate PlatformAugust 8, 2012
Influitive has raised $3.75 Million from 11 investors for the company’s customer advocate platform that helps companies generate qualified leads and shorten buying processes.
Founder Mark Organ said the unusual seed round is illustrative of how the venture capital community is getting more engaged in smaller deals.
“It’s a huge seed round,” Organ said in an interview yesterday. “It could be called a seed preferred round.”
Organ said he raised money on both coasts. He leveraged Angel List. Seed funding came from the likes of venture capital firms such as First Round Capital, Lightspeed Ventures, New Enterprise Associates and Relay Ventures.
Organ has just a wee bit of credibility in the market where Influitive plays. He founded Eloqua, the marketing automation platform that started trading last week on the NASDAQ Exchange.
Influitive’s business model reflects the new world of online customer advocacy that has emerged in the past several years with the rise of the read/write web. Blogs, Facebook, Yelp – they’ve all provided the foundation for individuals to rally around businesses that they believe in.
Alex Williams, TechCrunch, August 8, 2012