SteelBrick, a provider of new quote-to-cash software applications, announced its raising $48 million in Series C round of funding led by Institutional Venture Partners along with participation of existing investors Emergence Capital, Salesforce Ventures and Shasta Ventures.This funding raises the company total funding to $78 million in last 18 months.
Founded in 2005, the company SteelBrick is a Next Generation Quote-to-Cash suite that includes Configure, Price, Quote (CPQ) and Billing apps to fast and easy deployment. The company’s SaaS applications are built native on the Salesforce1 platform and enable sales to make accurate sales quotes quickly and submit orders from any desktop or mobile device and to create proposals, contracts and invoices at ease. It also helps in collecting cash and managing revenue recognition. It has a big clientele list with more than 350 high-growth customer that includes Cloudera, Nimble Storage, HootSuite and Marketo.
SteelBrick plans to use its new funds to prepare for accelerated growth going into 2016, to develop its next generation Quote-to-Cash software and to scale its services and support resources globally to meet growing demand along with the expansion its new office near London. It is working to expand quickly to help thousands of modern sales leader and CFOs all over the globe to boost sales cycles and collections.
Godard Abel, CEO of SteelBrick said, “SteelBrick is about helping our customers grow revenue more quickly and more profitably. With our newly expanded Quote-to-Cash suite, we make closing deals as easy as possible for sales teams, while we help our customers quickly recognize revenue and collect cash. We are thrilled to now have the capital and support from world-class technology investors to build the company of our dreams.”
“Over the last year SteelBrick has shown tremendous growth,” said Jules Maltz, General Partner at IVP. “With the company’s innovative and comprehensive approach, unmatched momentum and proven executive team, we believe SteelBrick is primed to solidify its place as the Quote-to-Cash market leader. We are excited to be a part of this next phase.”