Digabit raises $9M, plans to increase hiring

by Anthony Sodd
May 7, 2015

Lakewood-based Digabit announced today it had raised $9 million in Series B funding. The funding was led by QuestMark Partners. Flywheel Ventures and High Country Ventures, both of whom contributed to the company’s $3 million Series A funding in 2013, also contributed to this round of funding.

The new funding will be used to speed up product development and to beef up both the sales and marketing teams. The company plans on hiring sales, marketing and development talent in the near future.

“Digabit is committed to providing state-of-the-art SaaS offerings to help our customers sell more highly profitable aftermarket parts, while reducing costs across the board,” Digabit CEO Alan Sage said in a statement. “The Series B capital will allow us to extend our technical lead, while expanding our sales and marketing capabilities to allow us to reach the thousands of equipment manufacturers, world wide, that need our solution.”

As part of the deal QuestMark Partner’s Principal Brian Matthews will join Digabit’s Board of Directors. Matthews, who has been with Questmark since 2008, boasts over a decade of experience as a VC, with specializations in SaaS, financial services and healthcare IT.

Digabit creates cloud-based software aimed at digitizing equipment manufacturers’ parts catalogs and processes.

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