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SteelBrick just raised an impressive Series C round of fundraising to the tune of $48 million.
The leading investment came from Menlo Park, California’s Institutional Venture Partners, a prolific venture capital and growth equity firm that’s also put its weight behind companies like Netflix, Kayak, DropBox, Slack, and Zenefits. Emergence Capital, Salesforce Ventures, and Shasta Ventures all returned to join in on the round.
"SteelBrick is about helping our customers grow revenue more quickly and more profitably. With our newly expanded Quote-to-Cash suite, we make closing deals as easy as possible for sales teams, while we help our customers quickly recognize revenue and collect cash," said SteelBrick CEO Godard Abel in a statement. "We're thrilled to now have the capital and support from world class technology investors to build the company of our dreams."
Abel is also responsible for such Chicago startups as BigMachines and G2 Crowd. BigMachines sold to Oracle for more than $400 million two years ago.
The company, which is based out of San Mateo, California but has strong presence out of its Highland Park office, helps its enterprise clients accelerate growth by providing a Quote-to-Cash product suite, which helps to automate quoting, contracting, and billing.
The news follows a spry year for the company, which raised $18 million in Series B funding earlier this year and announced the acquisition of London-base Invoice IT just last month.
In the past 18 months alone, SteelBrick has now raised $78 million in funding.
