Tech Company Scores $1.5M in Funding

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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.

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