US-based data management software developer Crossbeam has received $25m in series B funding from investors including identity authentication technology provider Okta and enterprise software producers Salesforce and Slack.
The round was led by venture capital firm Redpoint Ventures and also featured FirstMark Capital, Uncork Capital and private investors from Partnership Lead. The corporates invested through their Okta Ventures, Salesforce Ventures and Slack Fund subsidiaries respectively.
Crossbeam has built a software platform that compares companies’ customer relationship management data to locate overlaps and possibilities in order to co-sell products and services to customers and assist with software integration.
Bob Moore, co founder and chief executive of Crossbeam, said: “This carefully curated group of financial, strategic, and community investors was selected to embody our core value of ‘Grow the Network.’
“These new funds and relationships will allow Crossbeam to take a long-term mindset that puts our network of users – and the value we create for them – above all else.”
FirstMark led the company’s previous round, a $12.5m series A in August 2019 featuring subsidiaries Slack Fund, Salesforce Ventures, Uncork Capital, First Round Capital and HubSpot Ventures, the corporate venturing arm of marketing software provider HubSpot.
Slack Fund had already participated in a $3.4m seed round for the startup in January the same year which was co-led by Uncork Capital and First Round. Logan Bartlett, a partner at Redpoint Ventures, is joining its board of directors in connection with the series B round.