Bolstra Hires COO, Completes Funding Round

Carmel-based Bolstra has named Steve Ehrlich chief operating officer. The tech company, which provides a customer success management platform, has also completed a $1.5 million round of seed funding. A veteran of the Software-as-a-Service industry, Ehrlich most recently served as president of PolicyStat, also based in Carmel. He has also held leadership roles with other SaaS companies, including vice president of operations with Autobase Inc. and senior vice president of operations with Aprimo Inc.

“It’s our mission to make Bolstra a verb within the enterprise SaaS industry. To do so, we need to continue momentum in sales, marketing and leadership efforts," said Haresh Gangwani, chief executive officer of Bolstra. "With Steve’s wisdom, clarity and calm organizational leadership, and the infusion of capital into our sales, marketing and R&D teams, I’m confident that we’re positioned to scale Bolstra into a SaaS platform that XaaS companies cannot exist without."

Bolstra says the funding will allow it to increase its sales and marketing efforts, as well as expand its research and development resources. Investors including Allos Ventures, 4G Ventures, Collina Ventures, and VisionTech Angels contributed to the funding round.

"VisionTech Partners is committed to providing financial and strategic support to innovative Indiana technology companies," said Oscar Moralez, managing director at VisionTech Angels. “Both VisionTech Angels and VisionTech Angel Fund are enthusiastic investors in Bolstra as we recognize the power of the technology and the industry knowledge and experience of the leadership team. Like other investors, we can see how the Bolstra solution will change the way enterprise customer management is done.”

This is the third $1.5 million round of funding for Bolstra in as many years. The company completed the other rounds in July 2016 and February 2017.

Bolstra counts tech companies such as ClearObject, Formstack and DemandJump among its customers.