Media Inquiries: Contact Karen Budell, CMO
Media Inquiries: Contact Karen Budell, CMO
Totango, a startup whose platform helps cloud-based service providers find and fix problems with customers, has raised $15.5 million in Series B funding.
The Palo Alto company led by CEO Guy Nirpaz said the round was led by Canvas Venture Fund and InterWest Partners. Existing investors Pitango Venture Capital and Gemini Israel Ventures also participated. It has now raised close to $19 million in total.
"Every company that has a digital product for their customers and sells it by subscriptions must ensure that their customers are continuously seeing value from their product," Nirpaz told me. "We help them understand how their users are engaging with online services and create value from that."
Totango says it has more than 100 paying customers, including Zendesk, Zoho, Jive, Optimizely, SendGrid, OpenDNS and Keynote Systems.
It said its revenue grew by more than 400 percent last year and it plans to use the new funding to expand significantly in the coming year.
It employs 25 now and expects to grow by at least twice that number in the coming year. Its engineering team is based in Israel, and the rest of the company is in its Silicon Valley headquarters.
Originally published at https://www.bizjournals.com/sanjose/news/2014/02/05/totango-raises-155m-to-help-keep.html