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Denver-based Channelinsight, a provider of cloud-based channel CRM solutions, recently raised
$1.8 million. These funds were raised on a Series D inside round with the “same players with the same terms” as last year, CFO Roger Metz said; he said two of the company’s existing investors, Rho Ventures and Vedanta Capital, were behind this round.
Channelinsight has been enjoying rapid growth lately, reporting a 24 percent increase in revenue last year, which Metz said was due to “a combination of expansions with existing customers and new customers.”
This year, the company is positioned to grow even more with its experienced management team. CEO Bob Smith, who was brought in from ISYS Search Software last August, has now hired Mike Pivacek, formerly of Epsilon Targeting, as VP of Operations. Smith said in a recent press release that 2013 will be “a banner year for Channelinsight.”
“We’ve got a very experienced and great management team and we’re ready to start accelerating growth beyond what we celebrated last year," Metz said. “We are excited about the fact that the company is growing even in a difficult market.”
Follow Channelinsight on Twitter at @_Channelinsight.
