Startup aiming to be Salesforce alternative nets $12.6m in series A round

Customer relationship management (CRM) platform FreeAgent has raised US$12.6 million in its series A financing round led by Pelion Venture Partners.

FreeAgent CRM / Source: Linkedin

Investors including Altara Ventures and BlueRun Ventures also participated in the round.

FreeAgent helps companies optimize sales, marketing, customer success, and project management, among other business functions. It helps teams get work done on a unified platform, which enables users to collaborate across multiple projects as well as to track and improve operational performance. It also allows remote teams to eliminate the time spent on manual labor via code-free customization on its platform.

“We see ourselves as a serious platform alternative to Salesforce in a market hungry for a real choice,” said Dave Stephens, FreeAgent’s co-founder and CEO. He previously held senior executive roles at Oracle and ServiceNow. He also founded Nasdaq-listed cloud procurement software-as-a-service (SaaS) platform Coupa Software.

See also: Uncovering Southeast Asia’s hidden Grab and Gojek mafia

FreeAgent plans to use the fresh funding to develop products and to ramp up marketing activities. The CRM company said that it has doubled its subscription revenue amid the Covid-19 pandemic.

“We know they (FreeAgent) are building for the largest enterprise software category and we couldn’t be more excited to team up with them,” said Jeff Kearl, general partner at Pelion Venture Partners.