CallRail Raises $1.9 million in Series A Funding
CallRail today announced that it has closed $1.9 million in Series A funding. The funding will be used to help scale sales and marketing as well as more aggressively advance the company’s product roadmap. The investment was led by Wain Kellum, former CEO of Vocalocity, an Atlanta-based provider of Internet-based phone systems to small business that was acquired by Vonage Corp for $130 million in 2013, with participation from successful technology entrepreneurs including Reggie Bradford, Tycho Howle, Jim Armstrong, and Todd Belfer.
“The funding is a vote of confidence in the vision of CallRail, as well as the bright future of voice. The phone is no longer simply a conduit for communication, but a powerful source of intelligence for marketing and sales teams,” says Andy Powell, CEO of CallRail. “Two-thirds of small and medium size businesses consider phone calls to be the most valuable type of lead, and we want to provide the software to help businesses maximize the power of this channel.”
The funding announcement begins the new year on a high note, and will enable the company to focus on aggressive growth in the months to come. Continuing their commitment to provide all businesses with enterprise-level capabilities, CallRail recently released their new real-time call intelligence tool, CallRail Copilot, and has several major developments set to launch in the upcoming year, which include an expanded integration platform and advanced features for healthcare organizations.
“After receiving numerous fundraising offers over the past few years, it was the investment team’s experience and track record that made this an offer we could not refuse,” says Kevin Mann, CTO of CallRail. “We are going after a hot, competitive market, and drawing from our investors’ wisdom will be critical for staying on the right path for 2015 and beyond.”
More than 15,000 companies rely on CallRail for phone call conversion tracking and optimization. CallRail was recognized as one of Atlanta’s Top 10 Fastest-Growing Businesses by the Atlanta Business Chronicle and as a Technology Association of Georgia (TAG) Top 40 Innovative Technology Company in 2014.
“Marketing automation and analytics solutions remain in the early adopter phase in this software category, but we were most impressed by the experience and depth of the management team and what they have accomplished to date,” said Kellum. “CallRail’s customers are able to spend their marketing dollars much more effectively while increasing close rates for the leads that marketing generates. This exponential return on the cost of the solution for CallRail’s customers indicates that CallRail could become Atlanta’s next great success story.”