Collabspot is a browser extension that integrates Highrise and SugarCRM with Gmail to let sales teams save emails to their CRM with one click and manage contacts, sales activity and opportunities without opening the CRM. The startup follows a lean model and is Singapore-based. Most users are small- to medium-sized businesses and the company says most of its current users are in the U.S.; it has doubled paying monthly active users to 1,000 in four months since June after completing the JFDI accelerator. Collabspot positions itself against competitors such as Yesware and ToutApp and emphasizes a tighter CRM integration that allows about 80% of sales rep tasks to be done from within Gmail. The company plans to scale by integrating more leading CRM platforms into Gmail and adding email automation for sales departments comparable to marketing automation. Collabspot will use new funding to ramp up marketing and grow its customer relations team to target new markets. Collabspot provides a service that layers CRM functionality directly into Gmail, letting users save emails into the company CRM without manual data entry. The product targets small and medium-sized enterprises and relies on a development team in the Philippines. The company was founded in Singapore last year and went through JFDI.Asia’s 100-day bootcamp, receiving mentorship and angel support. Collabspot reports about 500 paying customers, a 2% churn rate, and says revenue covers its overheads. Sixty percent of customers are in the US, 25% in Europe and 15% in the Asia-Pacific; the company has signed three resellers in North America and three outside the region. Management plans to raise a seed round to build a stronger US marketing team.

Total raised

$79M

Funding rounds

2

Latest round

Seed

Latest activity

Oct 2013