Crossbeam announces $25M Series B to keep growing partnerships platform

As sales teams partner with other companies, they go through a process called account mapping to find common customers and prospects. This is usually a highly manual activity tracked in spreadsheets. Crossbeam, a Philadelphia startup, has come up with a way to automate partnership data integration. Today the company announced a $ 25 million Series B investment.

Redpoint Ventures led the round with help from existing investors FirstMark Capital, Salesforce Ventures, Slack Fund and Uncork Capital, along with new investors Okta Ventures and Partnership Leaders, a partnership industry association. All in all, an interesting mix of traditional VCs and strategic investors that Crossbeam could potentially partner with as they grow the business.

The funding comes on the heels of a $ 3.5 million seed round in 2018 and a $ 12.5 million Series A a year ago. The startup has now raised a total of $ 41 million.

Crossbeam has been growing steadily, and that attracted the attention of investors, whom CEO and co-founder Bob Moore says approached him. He was actually not thinking about fundraising until next year, but when the opportunity presented itself, he decided to seize it.

The platform has a natural networking effect built into it with over 900 companies using it so far. As new companies come on, they invite partners, who can join and invite more partners, and that creates a constant sales motion for them without much effort at all.

“We didn’t go out fundraising. We caught the eye of Redpoint because they could see the virality of the product and the extent to which it was being used by many of their portfolio companies and companies out in the market […],” Moore told TechCrunch.

Image Credits: Crossbeam

To accelerate interest in the product, the company also announced a new free tier, which replaces the limited free trial and a starter level that previously cost $ 500 per month. Prior to this move, if you didn’t move to the starter tier, you would lose your data when the trial was over.

“The idea here is what we’ve seen in the data is that we can create a whole lot of value for people and demonstrate really strong ROI once they get in the door and actually have access to that data, and they don’t have to worry about a free trial where the data is going away,” Moore explained.

Moore says they currently have 28 employees and have ambitious plans to add new people to the mix in the coming months, expecting to reach 50 employees by early 2021. As the company revs up on the personnel side, Moore says diversity is front and center of their plans.

“As far as Crossbeam specifically goes, we’ve made sure that diversity, equity and inclusion is part of our entire recruiting process and also the cultural experience that we create for people that are at the company,” he said. Although he didn’t discuss specific numbers, he said the company was making progress, particularly in the latest round of hires.

While the company has an office in Philly, even before COVID hit, it was a remote first organization with about half of the employees working from home. “I think a lot of our culture was kind of built to make sure that remote team members are first-class citizens in every respect in the company. So we already had all the controls, technology and practices in place, and when we shut the office, it was about as smooth as could be,” he said.

Startups – TechCrunch

You just launched an app and already have partnerships, but no funding. How do you start generating some serious publicity and media coverage on a minimal budget?

Basically, if just launched a mobile app technology startup and already have some partnerships in place, but no real funding to support advertising, marketing, publicity and all of that, then how would you recommend to start generating some serious publicity and media coverage on a minimal budget? By funding, I mean there’s no significant funding via an accelerator, angel investor, fund, or VC group. It is primarily bootstrapped and funded by the founders of the startup itself.

Please let me know – thanks!

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With partnerships at major children’s hospitals, Manatee seeks clinical validation of its CBT-based app

When Manatee founder Damayanti Dipayana’s brother was diagnosed with autism spectrum disorder, the family took all the steps to ensure that he was properly cared for. All of the things that could have been an obstacle to getting treatment weren’t for Dipayana’s family.

A comfortably middle class background, a supportive family and ready access to care were all available, but still the therapy didn’t take. For Dipayana, it was witnessing the breakdown between the care provided at sessions and the differences in treatment at home that led her to create Manatee.

“Therapy just sucks for kids,” Dipayana said. “My brother hated it. It can’t be the best thing for children to put them in a room with an adult and have them talk about their problems for an hour.”

Now the graduate from Techstars Los Angeles has $ 1.5 million in funding from investors including the Michigan-based investment firm Grand Ventures; Telosity, a fund launched by Vinaj Ventures & Innovation that invests in companies improving children’s and young adults’ mental health; and the American Family Insurance Institute for Corporate and Social Impact. Manatee will pursue clinical validation for its suite of apps and services to provide a continuum of care for children with cognitive and behavioral disorders. 

Beginning with Children’s Hospital Los Angeles, Manatee has started a trial with 10 clinicians and 50 families to evaluate the commercial use case for Dipayana’s service.

The first targets for care are anxiety and oppositional disorder, Dapayana said.

Image credit: Manatee

“I really want to focus on children. From a social [return on investment] perspective it seems insane to me that we don’t invest more in the early well-being of children,” said Dipayana. “If we did, then we probably wouldn’t have to deal with a ballooning juvenile detention system.”

From the company’s earliest days the stars seemed to align for Dipayana. She found her technical co-founder, Shawn Kuenzler, thanks to a post on AngelList. A veteran in the health tech startup world, Kuenzler ran engineering at Health Language and Zen Planner and has two exits under his belt. If that wasn’t serendipitous enough, Kuenzler’s wife is a clinical psychologist.

The two Denver-based entrepreneurs then took their startup on the road to the Techstars Los Angeles accelerator. It was there that they were introduced to contacts at companies including Headspace and LA Children’s Hospital that are paving the way for clinical validation of digitally delivered cognitive behavioral healthcare.

“We’re going to spend money and resources on launching our research with Children’s LA to understand the impact for a health system,” Dipayana said. “We position it as everyday therapy for kids. We provide the platform for providers to make it the day-to-day therapy for kids.” 

Manatee sells its services directly to healthcare systems to ensure that it can reach the broadest population of users rather than just ones who could afford to access the company’s app-based offerings. Doctors use Manatee as a clinical dashboard and way to communicate to both a child and their family around care plans and treatment.

“I thought about this really long and hard… Looking from my personal experience. Parents and families that have kids with autism… there’s so much snake oil that gets pushed down their throat that they’ll try anything,” Dipayana said. “It was very important to me that I understand the clinical workflow and understood how the workforce manages behavioral healthcare and whether the work we were doing was valuable.”

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