Allbound Raises $1.5 Million in Seed Funding

Software as a Service software solution provider Allbound announced it has raised $1.5 million in seed funding from private investors to expand its employee base and invest in new marketing opportunities.

Allbound Co-Founder and CEO Scott Salkin said he plans to use 75 percent of the investment to hire new employees, with the remaining 25 percent being used for marketing, according to the Phoenix Business Journal. Allbound currently has seven employees, with the goal of hiring an additional five by the end of the year.

Salkin and fellow co-founder Kyle Burnett started Allbound in 2014, and provide customers with a Partner Sales Acceleration platform that uses predictive analytics and gamifaction to help resellers automate and analyze the effectiveness of their sales, marketing and training content. The software also provides partners with visibility into how and when channel partners use content marketing and sales tools, according to the announcement.

The Phoenix-based company received most of its funding from local venture capital firms Canal Partners and Tallwave Capital, in addition to funding from Acceleprise, a San Francisco-based company. Allbound has raised a total of $1.75 million since the company was founded last year, The Phoenix Journal said.

“Big Data, automation and mobile have driven rapid innovation for direct sales and marketing organizations,” said Salkin, in a statement. “Our software gives partners and their reps anywhere, anytime access to sales resources including training and playbooks, that align directly to a prospect’s buying process, while helping manufacturers and suppliers keep a finger on the pulse of channel performance.”

Canal’s investment in the Allbound will see Managing Partners Todd Belfer and Wain Kellum join the company’s board of directors, with Gainsight Vice President of Marketing Anthony Kennada assuming the fifth and final board seat.

Earlier this week, Blue Jeans Network announced it had received $76.5 million in funding from investors including New Enterprise Associates and former Yankees captain Derek Jeter, among others.