Tech Company Scores $1.5M in Funding

Posted: Updated:
CARMEL -

Carmel-based tech company Bolstra has closed on a $1.5 million round of seed funding. The customer success management platform's customers include DemandJump, Formstack and ClearObject.

Chief Executive Officer Haresh Gangwani says the company will use the funding to fuel growth of its product, as well as sales and marketing efforts.

The round was co-led by Fishers-based Allos Ventures and 4G Ventures in Indianapolis with participation from Collina Ventures, Elevate Ventures and private investors. The company, which launched in 2016, provides clients with best practices for customer engagement, assisting software-as-a-service companies in maximizing customer retention and customer lifetime value.

"Bolstra’s visionary leadership has quickly launched an effective platform that’s clearly validated by market need," said Don Aquilano with Allos Ventures. "With public cloud services reaching $200 billion in market size, SaaS companies need an edge to stay ahead and Bolstra’s solution provides the increased customer lifetime value to do just that."

This was the second seed round for Bolstra, which also raised $1.5 million in July.

  • Perspectives

    • Taking Hyper-Growth and ROI in Key Sectors to The Next Level

      The Governor and our Legislature have already invested in programs that are delivering over 100X returns to Hoosiers. Prior efforts of Governor Eric Holcomb and the Indiana General Assembly to invest in our workforce have already positively impacted the lives of many Hoosiers, while building upon a solid foundation for economic growth. The 2019 General Assembly has the opportunity to leverage this to achieve exponential growth for Indiana.

    More

Events



  • Most Popular Stories

    • TradeRev Makes Hires, Promotions

      TradeRev has hired Kayne Grau (pictured) as executive vice president, U.S. and commercial sales. Keith Crerar (pictured) has been named executive vice president of global operations. Also, Kathy Hopkins has been promoted to vice president of sales and Will Farmer has been promoted to vice president of sales.

    • Tech Company Closes on Early-Stage Funding Round

      An Indianapolis-based software company has closed on an early-stage round of funding. Woven, whose platform helps high-growth software teams hit hiring goals, says it has raised more than $500,000 from a group of investors, including venture studio High Alpha. The funding round also included several Indy tech veterans such as Ade Olonoh with Formstack, John Qualls from BlueLock and Christopher Clapp of Angel Learning. Woven says its goal is to reduce bias in...

    • Holcomb Unveils Teacher Pay Plan in State of The State

      Governor Eric Holcomb used his third State of the State address to unveil a plan to increase teacher pay. He called on legislators to use money from the state's reserves to pay off pension liabilities in a move he says will save all local schools $140 million over the next two years, and more in the following years. He says school districts should "allocate 100 percent of the $140 million to increasing teacher paychecks." In his speech, Holcomb also announced the...

    • Kenzie Graduates First-Ever Cohort

      Kenzie Academy has graduated it’s first-ever cohort of students. Eleven graduates received a joint certificate from the Indianapolis-based coding school and Butler University’s Executive Education program. "They are on their pathway to do good work," said Kenzie Co-Founder and Chief Executive Officer Chok Ooi. "Half the class has already received full-time job offers, and they are getting jobs ranging from $50,000 a year to $70,000 ...

    • IU Kelley Tops U.S News and World Report Rankings

      Indiana University's Kelley School of Business is ranked first among online MBA programs and online master's programs in the most recent U.S. News and World Report Best Online Education Program rankings. Ball State University's Miller College of Business also reached the top 20 in the online MBA rankings.