Alignable, a Boston, MA-based operator of a network for local business owners, raised an additional $1.5m in funding.
Recruit Strategic Partners, a Silicon Valley based venture capital firm, made the investment, which brought Alignable’s total raise to $13.5m with the most recent prior round being $8m in September 2015 led by Mayfield Fund and existing investors Saturn Partners, NextView Ventures and Lead Edge Capital.
The company intends to use the funds to accelerate user growth, engagement and hiring in its Boston office.
Led by Eric Groves, Co-Founder and CEO, and Dan Slagen, CMO, Alignable allows local businesses owners to establish a personalized core network of industry peers who align with their goals, needs and target customer base. Active in more than 8,000 communities, members can meet fellow business owners nearby, network, generate customer referrals, co-promote, ask questions and benefit from word-of-mouth marketing through discussions and knowledge sharing.
During the past 12 months, Alignable has driven positive growth and engagement, increasing from 7,000 to 8,000 communities in North America and increasing the number of small business connections made on the platform from a half million to more than 1 million.
Alignable is available on both desktop and mobile app.
FinSMEs
23/06/2016