ProsperWorks, a US-based customer relationship management (CRM) software producer backed by media company Bloomberg, received $24m in series B funding yesterday from investors including technology consultancy Devoteam.
The round was led by venture capital firm Next World Capital, with participation from Storm Ventures, True Ventures, Industry Ventures and assorted angel investors.
ProsperWorks has created a CRM platform that runs on top of Google Apps, internet technology provider Google’s suite of productivity tools. The company’s offering automatically collects all relevant data from existing Google accounts, eliminating the need to manually update contacts.
The money will go towards product development and customer adoption. ProsperWorks also intends to expand internationally with the support of Next World Capital and Devoteam.
Ben Fu, general partner at Next World Capital, will join ProsperWorks’ board of directors and assist with the company’s expansion into Europe.
ProsperWorks closed a $7.5m series A round in April 2015 led by True Ventures that included Bloomberg’s early-stage venture fund, Bloomberg Beta, as well as CrunchFund and various angel investors. Bloomberg Beta, CrunchFund and a range of private individuals backed a $2.5m seed round in 2013.
Jon Lee, co-founder and chief executive of ProsperWorks, said: “For many organisations, CRM is a four letter word; nobody likes to use it.
“We have succeeded in building a CRM that people actually love using by making it incredibly intuitive, automating tedious data entry, and integrating with the productivity platform of the future: Google Apps. This means access to better data and accurate insights so sales teams can sell more, faster.”