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NetProspex Inc., an online sales-lead startup company, has closed new equity financing led by North Carolina-based American City Business Journals (ACBJ), the parent company to Mass High Tech and Boston Business Journal.
Since August, NetProspex has closed a total of $2 million in equity financing. Other investors include U.K.-based angel Richard Tahta of Episode 1 Partners, who had participated in previous angel rounds. NetProspex uses a crowdsourcing strategy to offer sales leads to businesses via a web-based software application. The company’s data sources include sales professionals’ unused leads, which Netprospex accepts in exchange for credit toward buying new leads. Proprietary verification technology is designed to ensure the leads are viable, according to NetProspex officials.
Waltham-based NetProspex plans to use its funding to expand its user base and database of business contacts, which it now counts at 8 million, through integration with customer relationship management (CRM) software makers like Salesforce.com. “What we’re looking to provide is sort of a total sales-funnel solution for corporations large and small,” said co-founder and CEO Gary Halliwell. “With our data cleaning services, we think we can help also clean CRM data, and that’s really a very big opportunity. What we’re talking about here is a true electronic marketplace with inflow of new leads coming in from the community, plus the ability to also clean existing data that’s already in the customer’s database.”
The company has an existing partnership with American City Business Journals, which provides its subscribers access to NetProspex’s service. Halliwell said NetProspex is close to establishing similar relationships with other media and information outlets, which it hopes will deliver the company’s service to new customers.
NetProspex also plans to use the funds to expand its current sales and marketing efforts, which are focused around search-engine marketing (SEM), Halliwell said.
The company brought in a $1.4 million first tranche of the Series A round in August.
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