AAA Introhive buzzes with $100m series C

Introhive buzzes with $100m series C

Introhive, a Canada- based developer of customer relationship management software that counts enterprise software producer Salesforce and professional services firm Plante Moran as investors, has raised $100m in its series C round.

Growth equity firm PSG led the round, while Business Development Bank of Canada, Aegis Group Partners, Evergreen Coast Capital and Mavan Capital Partners also participated.

Founded in 2012, Introhive has developed a software platform that utilises artificial intelligence technology to help businesses automate their customer relationship data processing.

The series C funding will go toward strategic acquisitions as well as recruitment for the company’s engineering, sales and marketing teams. It had previously received an investment of undisclosed size from Plante Moran in March 2020.

Lake Bridge Capital had led a $15.2m funding round for Introhive in 2018 that included debt financing from Espresso Capital.

The company had picked up $7.2m in a 2015 series B round that also featured Salesforce, GrowthWorks Atlantic Venture Fund, Fortify Ventures, CIT Gap Funds, New Brunswick Innovation Foundation, Tech Equity Partners and Build Ventures.

Build Ventures had invested $1.5m in Introhive in 2013, after investors including GrowthWorks and New Brunswick Innovation Foundation had supplied $1.8m of series A funding the year before. CIT GAP and Fortify had already provided an undisclosed amount of seed funding for the company in 2012.