Total amount raised
$116.9 Millions
Latest funding date
10/1/2021
Location
Crossbeam has successfully raised significant funding through multiple rounds, with the latest being a Series C. The platform is designed to enhance ecosystem-led growth by leveraging partner ecosystems to drive revenue.
Keep reading to explore the intricacies of Crossbeam's fundraising journey and the investors backing this innovative platform.
What Is Crossbeam?
Crossbeam, founded in 2018 by Bob Moore and Buck Ryan, is headquartered in Philadelphia, Pennsylvania. The company specializes in providing an Ecosystem-Led Growth platform that helps businesses leverage their partner ecosystems to drive revenue growth.
With a team of 51-100 employees, Crossbeam offers features like account mapping, data sharing, and integrations to enhance customer relationships. Their platform is designed to turn CRMs into powerful ecosystem revenue engines.
By utilizing Crossbeam's tools, companies can uncover new opportunities, target the right accounts, and achieve their revenue goals more efficiently.
How Much Funding Has Crossbeam Raised?
- Seed Round
- Amount Raised: $3.4M
- Date: December 2018
- Lead Investors: First Round Capital, Uncork Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and build the core team.
- Series A
- Amount Raised: $12.5M
- Date: August 2019
- Lead Investors: FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand market reach.
- Series B
- Amount Raised: $25M
- Date: August 2020
- Lead Investors: Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and accelerate growth.
- Series C
- Amount Raised: $76M
- Date: October 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the ecosystem and drive revenue growth.
Total Amount Raised: $116.9M. Current Valuation: Not publicly disclosed.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a private venture capital firm based in Silicon Valley. Founded in 2009 by Marc Andreessen and Ben Horowitz, the firm has become one of the most influential in the tech industry.
- Investment Focus Areas: Technology, Software, Fintech, Healthcare, Consumer.
- Notable Investments: Facebook, Airbnb, Slack.
- Redpoint
- Details: Redpoint Ventures is a venture capital firm that invests in seed, early, and growth-stage companies. Founded in 1999, the firm is headquartered in Menlo Park, California.
- Investment Focus Areas: Technology, Media, Consumer Internet, Enterprise Software.
- Notable Investments: Netflix, Stripe, Twilio.
- FirstMark
- Details: FirstMark Capital is a New York-based venture capital firm that focuses on early-stage technology investments. Founded in 2008, the firm has a strong track record of backing successful startups.
- Investment Focus Areas: Technology, SaaS, Consumer, Healthcare.
- Notable Investments: Pinterest, Shopify, Riot Games.
- First Round Capital
- Details: First Round Capital is a seed-stage venture capital firm that invests in technology companies. Founded in 2004, the firm is known for its hands-on approach and extensive network.
- Investment Focus Areas: Technology, Consumer, Enterprise, Healthcare.
- Notable Investments: Uber, Square, Warby Parker.
- Uncork Capital
- Details: Uncork Capital, formerly known as SoftTech VC, is a seed-stage venture capital firm based in San Francisco. Founded in 2004, the firm focuses on early investments in technology startups.
- Investment Focus Areas: Technology, Consumer, SaaS, Marketplaces.
- Notable Investments: Eventbrite, Postmates, SendGrid.
What's Next for Crossbeam?
Crossbeam stands at the cusp of significant opportunities, driven by the increasing importance of ecosystem-led growth in the tech industry. As businesses continue to seek ways to leverage partnerships for revenue, Crossbeam's platform is well-positioned to capture a substantial market share. This potential could pave the way for future fundraising rounds, enabling the company to scale its operations and enhance its product offerings.
However, with growth comes challenges. Crossbeam may face competition from emerging players and the need to continuously innovate to stay ahead. Navigating these hurdles will be crucial for sustaining momentum and achieving long-term success.
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