CRM-for-Small-Biz InfusionSoft Raises $7.9 Million Series B

Arizona-based InfusionSoft, a company that makes cloud-based CRM software for small businesses, raised $7.9 million in a Series B round led by vSpring with participation from Mohr Davidow Ventures.

“In some ways we’re like a Salesforce.com or SugarCRM, but we’re focused on companies with fewer than 25 employees,” said CEO Clate Mask. The company has about 10,000 subscribers at 2,000 sites paying $59 per-user-per-month on a Software-as-a-Service model. The new cash will go mostly towards new marketing efforts, Clate says.

See Also:
Salesforce.com Director Likes The Competition
Salesforce.com Rival: Marc Benioff Had Us Booted From Our Hotel

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.