DoubleDutch raises $4M Series B round to deconstruct CRM for mobile
Mobile CRM company DoubleDutch announced today it has raised a $4 million round of Series B funding.
Raised entirely from existing investors, Floodgate Fund lead the round with participation from Bullpen Capital and Lightbank. Floodgate’s managing partner Mike Maples Jr. will join DoubleDutch’s board of directors as part of the deal.
Originally developed for desktop computers, CRM software tends to be heavy on features and difficult to use — a combination that has typically made for an unintuitive mobile experience, according Lawrence Coburn, DoubleDutch’s founder and CEO.
“We are going to try and reinvent CRM for a mobile-first world,” he says.
DoubleDutch’s three apps, Hive, Pride and Flock are each designed to replicate a single aspect of a more traditional desktop CRM suite, covering lead generation, salesforce updates and customer relationship management. The goal is to deconstruct the software as several dedicated mobile apps that are specifically designed to work together.
“Salesforce, Oracle, Sugar and Microsoft all have very powerful CRM systems that have been built up over years. If you look at the desktop philosophy that makes total sense, but the mobile and cloud trend has sort of turned that on its head,” says Coburn. “It’s very hard for a mobile application to compete with a desktop CRM but, the way we look at it is that mobile can be an extension of that desktop CRM and then you can have multiple applications that work together to start to recreate the entire functionality of a desktop CRM package.”
Founded in 2011, DoubleDutch currently has more than 238,000 people using its apps and counts the likes of Cisco, Lowe’s, Nationwide and Wells Fargo among its clients. “Accidentally profitable” in the words of Coburn, the company’s bookings currently run between $5 and $10 million a year. Today’s round will be used to expand the DoubleDutch headcount from 22 to more than 50 by the end of 2013, part of which will include opening a European office. In total the company has raised more than $7.4 million in venture capital.
“We think that every CRM system is at risk to cloud and mobile and we’re playing right in the middle of those two macro trends,” says Coburn. “We’ve seen that there’s already massive demand for our products, and we just need to scale up the company to meet that demand.”