NEWS22 August 2019

Crossbeam secures Series A investment

Data analytics News North America Technology

US – Data analytics startup Crossbeam has raised $12.5m in Series A funding led by FirstMark Capital.

Founded in 2018, the Philadelphia-based company’s data platform helps companies identify customers and prospects that overlap with their partners.

The platform launched in January 2019 and is used by companies to co-ordinate with partners on go-to-market strategies and streamline workflow, among other things.

The funding included participation from existing investors First Round Capital, Uncork Capital, and Slack Fund, and new investors HubSpot Ventures and Salesforce Ventures. The company will use the investment to continue growing the network.

Matt Turck, partner at FirstMark, also joins the company’s board.

Turck said: "As more and more businesses build the capabilities to harness and leverage their own internal data, the next stage will likely involve sharing data across organisations as a routine business practice. To be able to do that in a way that’s secure and compliant, you need specific data infrastructure, and that’s exactly what Crossbeam is building."