Axa Strategic Ventures, the corporate venturing arm of insurance firm Axa, has led the $12m series B round for Spain-based sales assistance app developer ForceManager, EU Startups reported on Wednesday.
Financial services firm Banco Sabadell also participated in the round, as did venture capital firm Nauta Capital and investment firms SIE and Histemi Investments.
Founded in 2011, ForceManager offers an artificial intelligence-based app for field marketing personnel that are conducting sales outside the office. The service includes geolocation tools to track representatives and probability forecasts for each potential sale.
The funding be used to further develop the company’s technology as it seeks to expand internationally. Imran Akram, general partner of Axa Strategic Ventures, will join ForceManager’s board of directors.
ForceManager has now raised approximately $15.8m in total, according to EU Startups, Sabadell having invested an undisclosed amount in the company in May 2016.
Nauta invested $2.8m as part of a $3.9m round for ForceManager in 2014 that included Histemi and undisclosed other investors after Fons d’Enginyers, a VC fund managed by Sabadell and engineering consultancy Enginova, led a $725,000 round for the company in 2013.