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LeveragePoint Innovations Inc., a startup that provides a sales negotiation online platform, has kicked up its initial fundraise to $713,000, according to an SEC filing.
The first document filed with the U.S. Securities and Exchange Commission for the LeveragePoint funding round dates back to October 2010, at which time the company brought in $100,000 of what was a planned $300,000 round. Now the top of the round has climbed to $1.1 million. Since then, the number of investors in Cambridge-based LeveragePoint has climbed from five to seven, although none of them are named in any of the SEC documents.
The only non-executive listed as a related person in the new LeveragePoint filing is board member Ed Mallen, a veteran of IBM and the CEO of TimeTrade Systems Inc.
According to its website, LeveragePoint has developed a Software-as-a-Service collaboration platform for B2B companies that helps them negotiate sales with customers. The company was spun out of Cambridge-based strategy consulting firm Monitor Group in January 2009, to take Monitor Group’s online marketing strategy tools and the platform they were built on to market. LeveragePoint CEO Steven Forth was the vice president of online solutions at the eMonitor unit of Monitor Group.
A call to LeveragePoint for comment was not immediately returned.
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