InsightSquared, a provider of cloud-based sales and marketing analytics for small and midsize businesses, announced today that it has raised $8 million in Series B funding from Draper Fisher Jurvetson (DFJ) to help accelerate its growth. Its existing investor Atlas Venture also participated in the round.
Claiming that it offers SMBs an “affordable and robust business intelligence solution” in staffing, recruiting, software, and other verticals, InsightSquared has grown since its launch in 2011. By the end of 2012, the firm’s annual revenues increased six times and saw hundreds of companies and thousands of users using the service. It hasn’t given any specific figures so we’re only able to go based off of the figures we’ve received.
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InsightSquared co-founder and CEO Fred Shilmover says that the additional round of funding will enable it to expand faster as it continues to be one of the top providers of Salesforce analytics for SMBs. In addition, it is adding Yodle’s CEO Court Cunningham to its Board of Directors and HubSpot’s Senior Vice President of Sales and Services Mark Roberge to its Board of ADvisors.
To date, the company has raised $13.5 million. Last May, InsightSquared received $4.5 million for its Series A round and counts Bessemer Venture Partners, Salesforce, and NextView Ventures among its investors. It received the remaining $1 million in its seed round.
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