Octane Software Inc, a customer relationship management software vendor which launched in February, has completed a round of funding worth $13m. The financing was from existing investors Greylock, Sigma Partners and Lucent Venture Partners who were joined by IT investor Norwest Venture Partners and consulting house KPMG. The money will go towards expanding Octane’s R&D spend as well as upping sales in Europe and the US.
Octane CEO Tim Guleri was previously at Scopus, which was acquired by Siebel last year. He says the San Mateo, California-based company was formed to try and serve new internet firms with their millions of customer touchpoints, rather than converting the older technology of front-office players like Siebel and Vantive. Octane claims to be the first vendor to offer real-time interactive and personalized CRM software.
