Sales Tech Platform Scores Funding Boost

Updated:
Frank Dale is a co-founder of Costello. Frank Dale is a co-founder of Costello.
INDIANAPOLIS -

A less-than-two-year-old sales technology company has announced a second round of funding. Costello, which bills its platform as a "real-time sales playbook," has secured $2.1 million in seed funding from investors in Indiana -- Collina Ventures LLC Innovatemap Ventures, Elevate Ventures,
Innovate Indiana, serial entrepreneur Chris Baggott and Copper Mountain Technologies Chief Executive Officer and former T2 Technologies executive Irena Goloschokin -- as well as Nebraska-based Dundee Ventures and Social Capital, a Silicon Valley investor. Chief Executive Officer Frank Dale says Indiana companies have to work harder for investment than startups on the coasts.

Dale says the company is almost exclusively funded by venture capital, which is hard to come by. Costello's location, he adds, makes it even more of a challenge. "If you're in Indiana, in particular -- and the Midwest is still a little bit capital-starved -- it's tough, so you have to really, really excel to stand out," Dale said. "You have to execute at an elite level, because they (investors from the Coasts) have lots of opportunities to invest in companies in California, or in Boston or New York, and they don't have to get on planes to do that."

In an interview with Inside INdiana Business, Dale discussed how the funding will be used. "We'll be hiring people in sales and customer support. So, we're very excited about that because we're starting to bring on more and more customers and we're excited to do that at an accelerated rate," he said. "And then as well as product development, so, we've already doubled the size of our engineering team to keep up with customer demand for the product."

The company's platform was launched in late-2017 and received a $1 million round of startup funding. Early this year, it detailed expansion plans at The Union 525 in downtown Indianapolis, which involve 65 new jobs by 2021. Costello's technology is designed to help sales representatives prepare for calls, ask questions and "tell relevant stories" to boost sales.

Dale and fellow co-founder Rod Feuer appeared on Inside INdiana Business with Gerry Dick earlier this year to talk about Costello's growth plans:

Costello Chief Executive Officer Frank Dale discussed how the funding will be used.
  • Perspectives

    • What Makes Up Quality of Place?

      Economic development is a hot topic these days. With the economy continuing to chug along in robust fashion and unemployment approaching historic lows, communities are refining their objectives and priorities to eek every drop of benefit they can from these financially strong times. Nowhere is this focus greater than with “quality of place,” As cities and states think about how they can distinguish themselves from their peers, a common starting point is developing a...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Computer Science, Gaming Collide With 'Hour of Code'

      Elementary school students in the Metropolitan School District of Decatur Township in Indianapolis are getting an early lesson in coding through the international Hour of Code program. The initiative is designed to give people an introduction to computer science and coding, and Lynn Hodgkin, elementary media coordinator for the district, says it takes a game-centered approach to teaching coding to kids. The students are participating in the Hour of Code at the...

    • St. Vincent Names Manas Regional President

      Julie Manas has been selected to serve as regional president of the St. Vincent North Region, which includes St. Vincent Anderson, Carmel, Fishers, Kokomo, Mercy, Randolph and Williamsport hospitals. She has more than 30 years of healthcare experience and most recently comes from Hospital Sisters Health System, Western Wisconsin Division, where she held the role of president and chief executive officer.

    • The Heritage Group Founder to be Remembered

      Services are set for noted businessman and philanthropist Fred Fehsenfeld, founder of Indianapolis-based The Heritage Group, who passed away last week at the age of 94. Fehsenfeld, a graduate of Purdue University and decorated World War II veteran, will be remembered Saturday during a Celebration of Life, at The Center on the northwest side of Indianapolis.

    • On-Air

      Find out when and where you can watch and listen to our reports.

    • Holcomb Details 2019 Next Level Agenda

      Governor Eric Holcomb has unveiled his legislative and administrative priorities ahead of the 2019 Indiana General Assembly. The governor says his Next Level Agenda continues an ongoing focus on jobs, economic growth, health, infrastructure and government service. During a presentation Thursday, the governor also revealed his Next Level Trails program, which aims to provide $90 million in grants for new hiking, biking and riding trails throughout the state.