RelateIQ Raises $20M for Relationship Intelligence Platform
Big Data startup RelateIQ bags $29M for its mobile-friendly take on relationship management.
Relationship management is a thing of the past, according Palo Alto-based RelateIQ. The future of maintaining and maximizing business connections is relationship intelligence, the company believes, and it is harnessing Big Data analytics and mobile technologies to bring the concept to the enterprise.
RelateIQ's cloud-based platform streamlines professional communications and fosters teamwork by merging contacts across email and social accounts, collecting data and presenting interactions in social-media-like activity streams that promote sharing and collaboration. The software supports data from Google Apps, Office 365, LinkedIn and Facebook.
Manual data entry gets the boot. "The technology automatically logs key customer touch points such as phone calls, meetings, and emails, and then we take it a step further, using machine-learning algorithms to help identify what needs your attention now and what can wait until tomorrow," said RelateIQ CTO and co-founder Adam Evans in press remarks.
The mobile-friendly service helps eliminate missed messages and potential opportunities that may fall through the cracks while juggling multiple accounts and social media identities. Another key feature is RelateIQ's ability to prioritize follow-ups and offer suggestions about whom to interact with to keep workflows and relationships on a productive path.
Big Data analytics is instrumental in making the platform -- in fact, the entire approach -- work, according to Evans.
"Establishing relationship intelligence for your organization depends on making sense of the signals hidden in all of the noise, finding the patterns that can make a difference, and changing behaviors (and outcomes) for the future. At a very basic level, this means identifying the patterns that lead to success and eliminating those that lead to less favorable outcomes," wrote Evans in a company blog post.
The startup shed its secretive trappings this week and emerged from stealth by announcing that it had raised $20 million in a Series B round of funding. To date, RelateIQ has attracted $29 million in financing from venture capital firms and angel investors, including Accel Partners, Formation 8, Battery Ventures and AMC Cloud Ventures.
After months in private beta, RelateIQ is now accepting requests for its just-launched public beta. Apps for iOS and Android are available via their respective app stores.
Pedro Hernandez is a contributing editor at Enterprise Apps Today and InternetNews.com. Follow him on Twitter @ecoINSITE.