Crossbeam gets $12.5M Series A to help companies organize their partnerships
When Crossbeam CEO and co-founder Bob Moore was working at previous startups, he noticed a problem around sharing information with potential partners. In fact, it was so acute he decided to create a startup to solve that problem, and today, Crossbeam announced a $12.5 million Series A round led by FirstMark Capital, with participation from existing investors Uncork Capital and Slack Fund.
Moore says that in his previous jobs, he was encountering issues with getting partners integrated and answering basic questions like how many customers do we have in common or are my sales reps currently selling to any of the same people that your sales reps are selling to, and so forth.
“We eventually realized the reason these questions were hard to answer was that you can’t draw a Venn diagram of all the data unless you have all of the data in both of the circles,” Moore told TechCrunch. In other words, each company has only half of the picture, what they already know, and it’s hard to make data-driven decisions without more information.
He added that there is danger in the age of GDPR and the upcoming California Consumer Privacy Act (CCPA)