Flywheel, Omaha based wordpress-hosting and blog management service providing startup, has announced on Tuesday raising $4 million Series A round. The fund round has been led by Kansas city based Five Elms Capital.
Other investors in the round include Linseed Capital and Nebraska Angels. Linseed has been co-founded by Dr. James and Karen Linder. Both of the investors represent a network of independent venture capitalists.
The raised capital will be used in growing company's product development, sales and marketing staffs and expanding Flywheel office at 1405 Harney Street. The office has recently been expanded and still has two floors to grow into, reports Omaha World Herald quoting Dusty Davidson, a co-founder of the company.
The round of the Nebraska based startup appears following raising $1.2 million seed round led by Linseed Capital around a year and a half ago. At present, the startup entertains 40,000 agencies, freelancers and creative developers on its platform. Tariff plan of the company starts from $15 per month, according to a report published in TechCrunch. Flywheel platform has changed the traditional path for conducting business by the wordpress designers. The startup has the leadership; culture and resources in continue offering invaluable tools for its customers. Thomas Kershisnik from Five Elms Capital has expressed excitement for partnering with Flywheel, reports Silicon Prairie News quoting a press release from the round leader. Flywheel now possesses a stable and popular platform. The startup has been seeking opportunity for offering additional value to its users while differentiating service from market competitors. It has recently introduced a new 'Organizations' feature offering real time project visibility through a twitter like feed and team management tools. The ultimate goal for Flywheel is continue developing interesting and innovative products for designers, cites co-founder Davidson. A hefty sum of money is expected to be spent for product development and the rest fund for accelerating sales and marketing efforts. Flywheel currently employs 35 people and Davidson predicts for expanding the fleet up to 80 employees by the end of 2016. The company has started its rolling with just four employees in 2013. Five Elms Capital invests within a range of $3 million to $30 million in business-to-business companies outside Silicon Valley. It generates revenue in between $2 million and $20 million per year, suggests the investor's website.
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