Corporate360, a Singapore-based B2B marketing data software provider launched in 2012, announced that it had raised $200,000 in its seed funding cycle.
This injection of funds will support a new product launch – a SaaS B2B marketing campaign tool – and heavier payroll demands, which are driven by the expansion of its data science and sales teams.
Offering cloud-based B2B marketing data software for B2B marketers and Big Data analytics uses, the company had initial revenue of $250,000 in 2012 that grew to reach a million dollars in 2014. Its client portfolio of 300 global customers includes, multinational corporates (MNCs) like, Dell, HP and VMware.
Also Read: Temasek increase stake in Mahindras NBFC
Varun Chandran, CEO and founder, explained: “Our primary strategy is to maximise market traction and reinvest in continuous innovation of our products. We pitched to nine VCs, and got three term sheets. We have multi-year SaaS contracts running for the next two to four years with a strong pipeline. Discussions are under way on one offer to review the second half of this year for Series A round.”
Currently operating across five countries, including India, 360 has ordered the construction of a 50-people technology park in South Indian state of Kerala. This will enable savings on operating costs and increase company assets in the long term, as well as help support employee requirements and innovation plans.
Currently, the team consists of 30 employees and nine contractors. It’s currently opened talks with 10 engineering colleges and is partnering with the ICT Academy of Kerala for campus drives.
In 2015, it plans to recruit 20 engineers and 50 interns across Singapore and India.