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Chicago was just named one of the best startup ecosystems in the world, and when companies like G2 Crowd call the Second City home, it’s not hard to see why.
The company, which provides the leading reviewing platform for enterprise software, announced it has nabbed a $7 million Series A round, bringing its total funding to right around $12 million. Pritzker Group Venture Capital led the round, with returning investors Chicago Ventures, Hyde Park Venture Partners, G2 Crowd Chairman Godard Abel and its management team all joining in.
Participation also included industry leaders like GLG founder Thomas Lehrman and ExactTarget co-founder and CEO Scott Dorsey.
“By bringing the collective power of trusted peers to the forefront, business buyers now have transparency when evaluating B2B software technologies,” said Tim Handorf, G2 Crowd’s co-founder and president in a statement. “We’re excited to use this investment to scale our platform, add more software categories with compelling reviews, and grow our awareness in the world of business software.”
The company plans on using the funding to hire rockstar talent in order to accelerate growth and expand its community, which currently features more than 37,000 comprehensive user reviews for entire catalogues of business software.
According to G2 Crowd, those reviews are read by 300,000 users on the prowl for business software — each and every month.
The company has already begun adding key leadership members to its team. Earlier this year, they brought on former LinkedIn executive Adrienne Weissman as Chief Marketing Officer. Alongside the recent round of funding, Pritzker Group Venture Capital partner Adam Koopersmith will join the G2 Crowd board.
“G2 Crowd is rapidly becoming the key information source for any executive in the purchasing review phase of B2B software technologies,” Koopersmith said in a statement. “We’re very impressed by the company’s rapid growth and we’re looking forward to partnering with the company’s leadership team to help G2 Crowd scale and further drive awareness of the industry’s increasing demand for expert peer advice.”
G2 Crowd’s peer-reviewed, real-time insights are poised to disrupt a system that once relied solely on the outdated and out-of-touch opinions of software analysts to inform purchases.
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