SteelBrick, a San Mateo, CA-based provider of quote-to-cash software applications built on the Salesforce1 platform, closed $48m in Series C funding.
The round was led by Institutional Venture Partners (IVP), with participation from existing investors Emergence Capital, Salesforce Ventures and Shasta Ventures. In conjunction with the funding, Jules Maltz from Institutional Venture Partners (IVP) will join SteelBrick as a Board Observer.
The company, which has raised more than $78m in the last 18 months, will use the funds to prepare for accelerated growth going into 2016, to build out its Quote-to-Cash software, and to scale its services and support resources globally.
Led by Godard Abel, CEO, SteelBrick provides a Quote-to-Cash suite including Configure, Price, Quote (CPQ) and Billing apps built native on the Salesforce1 platform. The apps enable sales to create sales quotes and submit orders from any desktop or mobile device, as well as generate proposals, contracts and invoices, collect cash, and manage revenue recognition. Together with the new SteelBrick Analytics, these Quote-to-Cash applications allow businesses to analyze and optimize the sales and revenue funnel while increasing sales productivity, eliminating errors, optimizing pricing, and accelerating revenue and cash flow.
The company has more than 350 customers including Cloudera, Nimble Storage, HootSuite and Marketo.