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ChannelEyes Attracts Investment

2014-09-09
TROY, NY, Technology startup, today announced a significant investment by venture capital firms Bowery Capital and Illuminate Ventures.
ChannelEyes Corporation, a Troy, N.Y.-based technology startup, today announced a significant investment by venture capital firms Bowery Capital and Illuminate Ventures. Existing investors and previous angel investors also participated in on the round.

ChannelEyes has built the world's largest mobile channel acceleration platform for vendors to better connect with their indirect partners. The innovative solution drives new levels of engagement and sales enablement of agents, dealers, resellers, and extended sales teams. ChannelEyes delivers a robust set of mobile tools for leading global companies such as HP, Verizon, CA Technologies, and Palo Alto Networks to manage their increasingly complex channel organizations.

Local serial entrepreneur Bob Godgart and co-founders Jay McBain, David Geoghegan, and Shari Godgart have deep domain experience with indirect channels. Having recently moved from East Greenbush, NY to a new headquarters location in Troy, NY, the software company has doubled its staff this year in the Capital Region and plans to grow to 50 people by the end of 2015.

'We are very impressed with the team behind ChannelEyes, the product they have built in such a short time, the traction it gets with users and the vision behind the company,' remarked Mike Brown, Jr. of Bowery Capital. 'They're offering a truly unique solution to help B2B organizations engage with their most important partnerships.'

With the new funding round, ChannelEyes plans to accelerate its rapid growth by developing and scaling its sales and development teams in the NY Capital Region. 'We're really excited to take ChannelEyes to the next level in the region' explained ChannelEyes CEO Bob Godgart. 'Our vision incorporates the best of mobile, big data, social, and cloud to provide critical tools for vendors looking to accelerate their channel performance.' Godgart said 'the investment will allow us to focus on value-add partnerships with other complementary SaaS products, such as Salesforce.com.'

The ChannelEyes mobile platform has a rich set of functionality including communication, messaging, sales & service tools that companies can brand and securely put in the hands of their indirect channels. The platform has recently been expanded to include new ways to motivate and drive loyalty with gamification. Other enhancements include Social Syndication, enabling companies to amplify their messaging through the networks of trusted voices in the field, and Pitch Tracking, a novel way to gather real-time feedback 'check-ins' from extended sales teams on product campaigns and programs.

'This is a game-changer company that is taking advantage of the shift to mobile,' said Cindy Padnos, Managing Partner of Illuminate Ventures. 'ChannelEyes is enabling vendors to put sales tools directly into the hands of its channel sales partners while leveraging data analytics to better predict sales outcomes and to prescribe actions that accelerate revenue. It is the first mobile solution we have seen that truly meets the needs of channel partners - the critical intermediary between the customer and major brands.'

More information about ChannelEyes can be found at http://channeleyes.com

About ChannelEyes

ChannelEyes was founded in 2011 by channel leaders Bob Godgart, Jay McBain, Dave Geoghegan and Shari Godgart. The Troy, N.Y.-based technology start-up is the world's largest mobile channel acceleration platform for vendors to better connect and motivate their partners. http://channeleyes.com

About Bowery Capital

Bowery Capital focuses exclusively on supporting startups that disrupt and upgrade legacy marketing and IT products and services across all organizations. This combination of a focused thesis and value-added support are the cornerstones of Bowery Capital's investment approach. http://bowerycap.com/

About Illuminate Ventures

Illuminate Ventures is a venture capital firm focused exclusively on startups in the fast growing enterprise cloud and mobile software sectors. Illuminate typically provides a company's first institutional capital as well as active mentoring - leveraging the firm's entrepreneurial backgrounds and the talents of their 40+ member world-class Business Advisory Council. Learn more at http://www.illuminate.com and follow us @IlluminateVC.
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