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Tenfold Receives $15.8M

AUSTIN, TX, Tenfold, a cloud-based revenue performance platform, raised $15.8 million in funding.
According to the Austin Business Journal, Tenfold, an Austin startup that aims to help businesses capture more information about their sales pipeline, has $15.8 million in the bank.

The company, which operates legally as Austin-based Callinize Inc., has disclosed some additional details about the venture capital round, which was led by Andreessen Horowitz with participation from Geekdom Fund LP and Rackspace Hosting Inc. co-founder Pat Condon.

Tenfold's software integrates customer relationship management systems with company phone systems and other communications tools such as messaging apps. The company has been growing revenue at a rapid clip as it targets more enterprise customers.

Founded in 2014, Tenfold raised $1.5 million in seed capital during 2015 after going through the San Antonio Techstars accelerator. It moved to Austin later that year.

Early Tenfold investors include Webmail founder Pat Matthews, a former Rackspace executive, and Lew Moorman, a previous chief strategy officer for the cloud-hosting company.

Tenfold's co-founders are Patrick Hogan, Blake Robertson, Daniel Sincavage and Sean Pinegar. The startup has some large clients like hospitality company InterContinental Hotels Group and online retailer Wayfair Inc. Tenfold anticipates that by the end of 2017 its software will handle about 1 billion interactions.

The startup has expanded its software to include routing from video conferencing, online chat and text messages. The goal is for customer service, finance and sales representatives to be tracked for more precise performance metrics and to provide a better sense how long it takes to close a deal or handle a transaction.

"Providing great service on a large scale is difficult because the complexity and volume of interactions is huge," Condon wrote in a Tenfold blog post. "Having the right customer information at your fingertips at the right time is critical to creating a great experience."
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