July 20, 2022, San Francisco — Crunchbase, a prospecting platform backed by industry-leading proprietary data, revealed it had raised USD 50 million as part of its Series D round of funding. With participation from current Crunchbase investors OMERS Ventures, Mayfield Fund, and Emergence, Alignment Growth led the oversubscribed round. Additionally, the Crunchbase board of directors will welcome Alex Iosilevich, a Partner at Alignment Growth.
With the aid of Crunchbase’s account-based prospecting tools, prospectors working in sales, recruiting, business development, and finance can locate and interact with qualifying accounts while raising awareness for under-the-radar enterprises. With more than half of the Fortune 500 and thousands of SMBs represented, Crunchbase receives more than 75 million unique visitors annually and recently exceeded 60,000 paying customers.
Crunchbase intends to use the money from the Series D to hasten product creation and strengthen ties with influential people in the fields of sales, marketing, finance, hiring, and executive leadership. New data that delivers insights only available on Crunchbase, reporting tools to calculate customers’ ROI, improvements to actionable machine-learning powered recommendations, and third-party integrations that more deeply integrate Crunchbase into existing prospecting workflows are just a few of the upcoming product enhancements. Crunchbase received financial advice exclusively from Goldman Sachs & Co. LLC in relation to the transaction.
What the founder has to say:
Jager McConnell, CEO of Crunchbase:
“Whether a company is selling, investing, or raising money, it is more crucial than ever for them to use account-based knowledge for prospecting. Prospectors cannot rely on spamming contact lists to reach the quota in the face of rapidly shifting market conditions. They require a focused strategy that begins with locating suitable accounts and concludes with persuasive outreach to the appropriate decision-makers—exactly what our customers do on Crunchbase,”
What the investors have to say:
Alex Iosilevich, Partner at Alignment Growth:
“The Crunchbase SaaS platform is a potent tool for increasing ROI across various use cases, from sales to recruiting. It combines extensive and proprietary corporate data with direct access to decision-makers under a single intuitive interface—at reasonable price points. We anticipate that industry adoption of Crunchbase will continue to accelerate, and we are eager to support the company’s growth momentum with active engagement from the existing investor community.”
More about the startup:
A prospecting platform called Crunchbase uses top-notch proprietary data as its fuel. So that they can search less and close more, it aids over 75 million dealmakers in finding, qualifying, tracking, and engaging with the relevant opportunities.
The company launched various brand-new SaaS products last year, accelerating its capital-efficient product-led expansion. Due to them, new recurring revenue increased by 5x year over year in the first quarter of 2022, and total software ARR is expected to double by the end of the year. Thanks to this upward growth pattern, effective cash management, and Series D funding, the company is headed toward profitability.
Since its previous fundraising round, Crunchbase’s platform has undergone tremendous development. The business’s software now has capabilities to help prospectors with their workflow.
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