FullContact gets $3M, closes biggest round in company history

by Doug Pitorak
March 25, 2015

[ibimage==33004==Original==none==self==ibimage_align-center]
FullContact
just closed the biggest funding round in its five year history.

The Denver-based company, founded in 2010, announced Wednesday that it closed a $10 million Series B round, adding $3 million to a late-January investment of $7 million. Boulder-based Foundry Group and Chicago-based Baird Capital co-led the round, while 500 Startups and Boulder’s Blue Note Ventures contributed, as well.

The Series B round brings FullContact’s total equity investment to nearly $20 million.

“We plan to use the funding to continue to grow our team, but more importantly to release new product offerings for our customer base,” FullContact CEO and co-founder Bart Lorang said.

FullContact, a member of the Techstars Boulder 2011 cohort, provides individuals, businesses and developers with comprehensive address books through a suite of cross-platform apps and APIs.

Releases for Mac, Android and Outlook are coming down the pipeline, and Lorang said the Mac and Android products should be available within the next two quarters.

The company recently pushed version 4.1 of FullContact for iOS, enabling users to combine low-confidence contacts into one listing. The company also pushed version 1.1 of FullContact for Gmail, resulting in faster loading, additional Google Calendar and Google Contacts support, and other updates.

[ibimage==33003==Original==none==self==ibimage_align-right]Furthermore, Lorang (pictured right) said FullContact is growing its sales, marketing and product teams. He estimated adding an additional 20 employees by year end, resulting in a total of 70-75 team members.

“[The funding] means to me that we have the opportunity to actually improve certain unit economics for scale, and we’re starting to grow more customer acquisition activities,” Lorang said. “For me, it’s just another milestone along the way for trying to solve the world’s contact information problem.”

Lorang said FullContact has tens of thousands of clients worldwide, adding that FullContact is trying to essentially triple its client base this year.

Benedict Rocchio, a partner in Baird Capital’s Venture Capital group who will be added to FullContact’s board as part of the investment, said the group is happy to help FullContact.

"As a firm, we had identified unified contact management as one of the top pressing challenges for digital consumers, professionals and enterprises," Rocchio said in a statement. "FullContact is on a trajectory to be the leading platform in the space and its innovative culture continues to extend the application of its products to solve more challenges across the digital ecosystem. We are thrilled to partner with this awesome company and help support the next phase of its growth."

Have a tip for us or want to share news about your company? Email us via [email protected].

Jobs at FullContact

Colorado startup guides

LOCAL GUIDE
Best Companies to Work for in Denver & Boulder
LOCAL GUIDE
Coolest Tech Offices in Denver & Colorado Tech
LOCAL GUIDE
Best Perks at Colorado Tech Companies
LOCAL GUIDE
Women in Colorado Tech