Rapidly Expanding Advisr Announces Additional Financing Led By Montana-based VC
Advisr, the leading sales operating system for B2B enterprises, announced the close of a new $5.75 million financing round led by Next Frontier Capital, based in Bozeman, MT. The round also included follow-on investment from several existing investors, including New York City-based Granite Capital. The completion of this round brings Advisr’s total funding to $13 million.
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The new funding was largely driven by the success the platform has had to date. Net-new customers and expanded platform usage all generated explosive adoption metrics over the past year. The company experienced a 336% year-over year increase in the number of customers accessing the platform and a 1144% increase in platform usage.
Founded in 2018, Advisr helps businesses automate sales processes, improve deal quality and capture more revenue. They offer a suite of tools for sales organizations including product recommendations, automated management of presentations, collateral and contracts, as well as unified and streamlined sales workflows, actionable sales data and business insights.
“Advisr’s momentum in market is a result of how well suited the platform is for today’s sales environment and the needs of sales organizations across verticals,” says Will Price, Co-founder and General Partner at Next Frontier Capital. “We’ve been incredibly impressed by their deep understanding of the space, their execution and ability to win the market’s largest players as customers, and their vibrant team culture.”
In order to support the company’s growing customer base across the United States, particularly on the West Coast, Advisr has also established a hub in Montana. This represents the latest example of a trend in which more and more tech companies are setting up shop in the Rocky Mountain region. The move will allow Advisr to take advantage of the current remote work environment, the region’s affordability, its network of universities and colleges to recruit from, as well as tap into sophisticated venture firms like Next Frontier Capital, who are designed to help startups thrive in the region.
“We’ve experienced rapid growth over the past few years. Our headcount has more than doubled since the end of 2020 and the completion of this round of funding will enable us to continue to support our exponential commercial growth while continuing to provide superior service and support wherever our customers are located,” says Quique Nagle, founder and CEO of Advisr. “We’re thrilled to be expanding our footprint and establishing a hub in Bozeman, Montana.”
