CrowdOptic Secures Debt Funding From Silicon Valley Bank

CrowdOptic recently announced exciting news about their most recent debt funding gained with Silicon Valley Bank. Though the amount was not disclosed, the company revealed that they are looking to use it to come out with a new range of groundbreaking products.

The company’s CEO John Fisher, recently granted Lead411 a quick Q and A regarding their recent funding:

Who are your competitors and how are you different from them?

No competitors – CrowdOptic is novel.

What percentage of your marketing budget are spent on the following?

A. Advertising –
B. Social Media Marketing –
C. SEO –
D. PR –
E. Direct Marketing –
F. Other –

We have no marketing budget – we respond to incoming sales requests.

What do you plan to spend your new funding on? Product development? Marketing?

Product development.

If this is your first round of financing and you’re the CEO, how many hours did you put into working on getting your financing? Was that taking up the most of your day?

We have a long track record with investors – fundraising is picking up the phone.

If you are the CEO, what are your biggest challenges?

Evangelizing a completely new market.

How many employees do you have?

15.

When were you founded?

2010.

How much did you revenue increase(if any) this year over last year?

700%.

Want to learn more about this recent funding? Check on their press release here.

About Christine Guinto

Christine Guinto is our part-time writer for the Lead411 Blog. She specializes in our funding news. You can contact her at christine [at] lead411.net. Christine Amos on Google+!