InsightSquared Funded to Empower SMBs with Business Intelligence
Secures $4.5M Series A; launches new product with salesforce.com integration
Cambridge, MA – May 14, 2012 — InsightSquared, a SaaS company focused on business intelligence for the SMB market, has received $4.5 million in Series A funding. The round was led by Atlas Venture with participation from Bessemer Venture Partners, NextView Ventures and salesforce.com.
“The requirements for making data intelligence useful to small and mid-sized businesses are much different than that of large enterprises,” explains Fred Shilmover, co-founder and CEO of InsightSquared. “Our product is built with usability, data integrity and simple workflow as the central focuses. Consequently, our cost-benefit proposition for the SMB market is compelling.”
InsightSquared has developed a Software-as-a-Service (SaaS) platform that enables small and mid-sized businesses to benefit from the predictive value of traditional business intelligence without the traditional cost and complexity. Today, the company announced a Salesforce integration that provides real-time, intuitive visualization to increase sales and productivity.
“DataXu is experiencing rapid growth, so we needed to better understand the volumes of prospect and customer data we collect in salesforce.com,” said James Sampson, Director of Revenue and Sales Operations at DataXu. “InsightSquared’s robust business intelligence and analytic solution was easy to integrate and helps us get the most out of our data. We’re excited about the opportunities that increased visibility into the data will bring.”
“The InsightSquared team understands the requirements for and is passionate about the SMB market,” said Jeff Fagnan, partner at Atlas Venture. “Their product brings new capabilities to that market, enabling competitive advantage through real-time business intelligence. Their product development and customer traction are impressive.”
InsightSquared offers the following features/dashboards, with set-up in as little as one day:
- Activity Tracking – dashboards configurable to track any activity, by employee or client, in real-time and with over-time trending and period-to-period reports.
- Sales Forecasting – uses client history, employee activity and deal activity to predict the value of a sales pipeline.
- Data Quality Monitoring – identifies, ranks and fixes data errors to insure high quality source data.
- Ratios and KPIs – analyzes activity per closed deal to improve closing percentages.
- Nightly Emails – configurable summaries delivered each night.
- Employee Scorecards – summary data for each employee ranked versus peers, updated in real-time.
- Interactive Visualizations – ability to click into charts to see information on each data point and drill to details.
- Tagging and Filtering – group by industry, geography or team, every report is filterable.
- Integration with other data sources – voice tracking (eg. M5 Networks), financial tracking (eg. for Quickbooks® users), and web tracking (eg. Google Analytics).
“[This] is a predictable business if you have the accurate front end metrics. With InsightSquared we now have those metrics at our fingertips,” said David Hayes, CEO of Hireminds, a professional and executive search firm. “Revenue this year, in large part because of InsightSquared and our increased productivity, is tracking to be the best in our 13-year history.”
Pricing for InsightSquared starts at $99/month after a free trial period. For more information visit www.insightsquared.com.
InsightSquared is business intelligence for SMBs. It helps companies make data-driven decisions to increase sales and productivity. Dashboards and reports are turnkey, easy for anyone in the business to use, and set-up takes only one day. InsightSquared is a Software-as-a-Service product, so updates are automatic and no dedicated IT or analytics staff are needed. InsightSquared’s product is available for integration with multi-vertical CRM systems like salesforce.com, as well as vertical-specific systems like Bullhorn in the staffing industry. For more information, visit www.insightsquared.com.
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