boostr, the leading omnichannel CRM and Order Management platform designed for Media & Advertising companies, announced today the closing of $7 million in Series A funding. The oversubscribed round was led by Vocap Partners and also included Bertelsmann Digital Media Investments (BDMI), Math Capital, and C2 Ventures. boostr has seen explosive growth in 2020, adding a record amount of new customers and revenue growth, as media companies have sought out a revenue management solution that saves time and cost while improving forecast accuracy and growing sales. The Company will use the funds from this round to support broader market penetration, accelerate product enhancements, and hire select personnel in marketing, sales, engineering and customer success.
"We're excited to put this new capital to work for our customers and to have Vocap Partners join our team. They bring the unique combination of SaaS, operational and media expertise we were looking for in a partner." says founder and CEO Patrick O'Leary. "We had a lot of investment interest and, ultimately, chose a value-added partner who brings more to the table than money. Vocap's strategic support will enable us to help our customers realize their omnichannel, digital transformation so they can drive more profitable growth."
"Media and ad sales teams' performance has suffered due to poor-fit CRM solutions and out-dated order management," said Mike Becker of Vocap Partners. "We were immediately impressed with the end-to-end, omnichannel approach boostr is delivering to the industry. Their team is deeply experienced in media and has walked a mile in their customers' shoes. They know the challenges inhibiting peak performance in this industry and they have delivered a compelling media-specific solution. We are excited to partner with them as they continue to scale the business."
"Selling advertising has never been more complex due to growing fragmentation across advertising channels and products. No segment in the industry is immune and COVID-19 is accelerating the transition to digital channels. Unfortunately, the go-to-market and operational execution are under more stress than ever for inventory owners," says O'Leary, who spent six years leading sales operations at Yahoo. "Ultimately, running the business on spreadsheets, generic CRM platforms that don't fit media sales, and legacy order management solutions just doesn't work. The industry wastes too much time reconciling data and lacks insights to drive growth and profitability. With the boostr platform, publishers have the best periscope to navigate today's stormy seas and tomorrow's strong growth."
About boostr, inc.
New York-based boostr is the only end-to-end, omnichannel CRM & Order Management solution built specifically for Media & Ad Sales Teams by Ad Sales Experts. Frustrated by expensive, generic CRM tools, boostr's founders are on a mission to solve the most important problems for media companies. boostr's customers save time, improve forecast accuracy and close more business. For more information, visit http://www.boostr.com.
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About Vocap Investment Partners
Vocap Investment Partners provides venture capital and operating expertise to rapidly growing technology companies in high potential verticals, including: Enterprise Software, Marketing Tech, Media and Entertainment, Consumer Internet and Healthcare IT. For more information, visit http://www.vocappartners.com.
About Bertelsmann Digital Media Investments (BDMI)
Bertelsmann Digital Media Investments (BDMI) is a wholly owned subsidiary of the global media, services and education company Bertelsmann. As a financially driven corporate venture investor BDMI draws upon Bertelsmann's global reach to provide not only capital, but also access to their network of businesses within Bertelsmann and across the media industry. BDMI has invested in over 100 startups since 2007 and is currently focused on the categories of next gen media, next gen brands, enterprise SaaS, and fintech. For more information, visit www.bdmifund.com.
About Math Capital
Math Capital is an early-stage venture capital firm focused on the digital transformation of marketing and media. For more information, visit https://www.mathcapital.ventures/.
About C2 Ventures
C2 Ventures is a New York-based investment firm focused on Seed and Pre-Seed companies across a variety of verticals. C2V seeks to maximize these investments by providing consistent, active support to its founders, lending the expertise, time and experience of its two General Partners, as well as its LP Operator Bench of successful entrepreneurs and tech executives who, consistent with C2V's mission, have pledged their time and experience in addition to their capital to support the growth of founders and startups. For more information, visit https://www.c2ventures.co/.