Investment will support product development and expansion of its engineering team
Grata, the search engine for discovering small to middle market private companies, today announced it expanded its seed round to $9.5M. Grata received broad support in the expansion from its existing investors who were joined by new investors Flex Capital, Touchdown Ventures, and others.
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Grata previously announced its initial seed round of $3.2M in October 2020, which was led by Bling Capital and included Accomplice and Alumni Ventures, along with current and former private equity, investment banking, corporate sales, marketing, and business development executives. This new investment brings its total capital raised to $9.5M and will enable Grata to deliver users an enhanced search experience through new, qualitative data points, a versatile API, and deeper integrations.
“Over the last few months, Grata has been focused on rolling out Canis Major, a strategic product update that makes it easier to facilitate business development across a wider breadth of industries,” said Andrew Bocskocsky, CEO and Co-Founder of Grata. “As a result of a positive market response to Canis Major and early success in new verticals, our investors recognized the opportunity to double down on our growth. Thanks to their continued support, we are already hard at work adding new features that will help meet the demand of current customers, as well as reach new users.”
Grata has experienced rapid growth since its seed round, reporting search subscription revenue growth over 400% and engagement growth of 350%. In addition to helping those in private equity, banking, and recruiting discover companies instantly, Canis Major provides business development professionals looking to run targeted campaigns access to executive contact information and over 6 million small and middle market businesses. On the heels of Canis Major’s success, Grata now turns its attention to the next major product release, Monoceros. The update is aimed at improving user experience with multiple CRM integrations and an API. The product will also incorporate powerful qualitative data points to further differentiate itself in the space.
“We’re building the go-to source for small and medium business discovery, which means we need the best people on our team to meet ambitious product development goals,” said Nevin Raj, COO and co-founder of Grata. “This investment will enable Grata to double the number of engineers on our team, which demonstrates our focus on creating an industry-leading product that anticipates the ever-changing needs of our customers.”
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