Levementum Scores Funding, Sells Off Product

Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now

This audio file is brought to you by

0:00

0:00

Loading audio file, please wait.

Speed
1.00

• 0.25
• 0.50
• 0.75
• 1.00
• 1.25
• 1.50
• 1.75
• 2.00

Arizona-based Levementum, which has a growing presence in Indianapolis, says it has raised an additional $4 million in funding, led by Inoca Capital Partners. Chief Executive Officer Doug Guilbeau also says the company has sold its SugarCRM practice to focus on its Salesforce products and becoming "the top digital consultancy focused on consumer engagement."

Levementum says the funding from the private equity firm will help support rapid nationwide growth. Senior Vice President Michael Burton says the company is continuing to pivot its focus to digital marketing, e-commerce and servicing consumer requests. The company is not disclosing the SugarCRM buyer or financial details.

Levementum targets B2C clients in industries including health, life sciences, entertainment and retail.

Last year, Levementum announced plans to expand in Indiana and add up to 175 jobs by 2021.  It also plans to move to a new Indianapolis location this summer after outgrowing its current home at The Union 525 downtown.

The company is headquartered in Chandler, Arizona. In addition to Indianapolis, it has offices in California, Texas and Michigan.