CircleBack, which keeps contact data organized and up-to-date, announced the closing of a $12M funding which was led by TDF Ventures. Grotech Ventures, Syncom Venture Partners, and CNF Investments were the other firms who joined in this Venture funding round. CircleBack will have its newest board member as TDF’s Jim Pastoriza will be joining as one of the Board of Directors as part of the investment.
CircleBack helps in assembling an individual or an organization’s contact data. It also keeps the data up to date, while ensuring accuracy irrespective of whether someone hops jobs, changes his or her phone number. Following the closing of the funding round, CircleBack will train its focus back on providing the most meticulously planned contact management possible. “We’re very much on track to solving the problem I started with so long ago: ensuring that professionals and businesses always have accurate, up-to-date, and organized contacts,” said Manoj Ramnani, CircleBack Founder and CEO. Ramnani further commented that CircleBack’s future looks bright with the company ready to launch products in the upcoming months.
The news of the investment comes shortly after CircleBack reached the milestone of managing 1+ billion contacts for its users. Further, when these contacts are mapped by the company’s artificial intelligence, the contacts get organized into 130 million uniquely corrected business contacts. This helps in CircleBack’s accuracy and its merge technology.