boostr Secures $7 Million in Series A Funding
boostr, the leading omnichannel CRM and Order Management platform designed for Media & Advertising companies, announced today the closing of $7 million in Series A funding. The oversubscribed round was led by Vocap Partners and also included Bertelsmann Digital Media Investments (BDMI), Math Capital, and C2 Ventures. boostr has seen explosive growth in 2020, adding a record amount of new customers and revenue growth, as media companies have sought out a revenue management solution that saves time and cost while improving forecast accuracy and growing sales. The Company will use the funds from this round to support broader market penetration, accelerate product enhancements, and hire select personnel in marketing, sales, engineering and customer success.
“We’re excited to put this new capital to work for our customers and to have Vocap Partners join our team. They bring the unique combination of SaaS, operational and media expertise we were looking for in a partner.” says founder and CEO Patrick O’Leary. “We had a lot of investment interest and, ultimately, chose a value-added partner who brings more to the table than money. Vocap’s strategic support will enable us to help our customers realize their omnichannel, digital transformation so they can drive more profitable growth.”
“Media and ad sales teams’ performance has suffered due to poor-fit CRM solutions and out-dated order management,” said Mike Becker of Vocap Partners. “We were immediately impressed with the end-to-end, omnichannel approach boostr is delivering to the industry. Their team is deeply experienced in media and has walked a mile in their customers’ shoes. They know the challenges inhibiting peak performance in this industry and they have delivered a compelling media-specific solution. We are excited to partner with them as they continue to scale the business.”
“Selling advertising has never been more complex due to growing fragmentation across advertising channels and products. No segment in the industry is immune and COVID-19 is accelerating the transition to digital channels. Unfortunately, the go-to-market and operational execution are under more stress than ever for inventory owners,” says O’Leary, who spent six years leading sales operations at Yahoo. “Ultimately, running the business on spreadsheets, generic CRM platforms that don’t fit media sales, and legacy order management solutions just doesn’t work. The industry wastes too much time reconciling data and lacks insights to drive growth and profitability. With the boostr platform, publishers have the best periscope to navigate today’s stormy seas and tomorrow’s strong growth.”
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