VoloMetrix is a company that provides Social Enterprise Intelligence applications for the improvement of company responsiveness to drive productivity, has announced that it was able to raise US$3.3 million in Series A financing. The round was led by an initial seed investment of US$1.6 million from Shasta Ventures.
The latest capital infusion would be utilized for the developmental expansion of its Social Enterprise Intelligence platform, expand its target markets and further expand into other organizational functions such as information technology departments with the goal to grow the customer base of the firm.
According to Volometrix co-founder and current CEO Ryan Fuller, "Across many of their corporate functions, large organizations are looking for tools to help them better align people resources with their most important business priorities. This round of funding will allow us to expand the functionality of our core platform, respond to growing customer demand, and optimize SaaS modules designed to specifically address the needs of sales, engineering, and IT functions."
For its part, Shasta Ventures Managing Director Ravi Mohan said, "VoloMetrix sits at the intersection of two mega trends in technology: Big Data and social analytics. By exposing new data and applying innovative algorithms, they are enabling their customer organizations to reduce cost, improve productivity, and deliver better results."
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