Total amount raised
$18 Million
Latest funding date
7/1/2024
Location
Momentum has successfully raised funds through two rounds, with notable investors including Inovia Capital, Basis Set Ventures, and FirstMark. The company's AI Revenue Orchestration Platform transforms customer interactions into structured data, driving real-time execution across go-to-market systems.
Keep reading to explore the intricacies of Momentum's fundraising journey and the investors backing this innovative platform.
What Is Momentum?
Momentum, based in San Francisco, California, operates within multiple industries, including B2B, Information Services, Professional Services, SaaS, Sales Automation, and Software. The company employs between 51-100 people.
Momentum's AI Revenue Orchestration Platform transforms customer interactions into structured data, driving real-time execution across go-to-market systems. The platform aims to enhance CRM data accuracy, improve pipeline management, and provide actionable insights to sales and customer success teams.
How Much Funding Has Momentum Raised?
- Seed Round
- Amount Raised: USD 5,000,000
- Date: November 2021
- Lead Investors: Basis Set Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and launch of Momentum's AI Revenue Orchestration Platform.
- Series A
- Amount Raised: USD 13,000,000
- Date: July 2024
- Lead Investors: FirstMark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development, innovate for enterprise revenue teams, and drive business expansion.
Total amount raised: USD 18,000,000. Current valuation: Not publicly disclosed.
Key Investors
- FirstMark Capital
- Details: FirstMark Capital is an early-stage venture capital firm based in New York City. They aim to partner with exceptional entrepreneurs solving meaningful problems.
- Investment Focus Areas: Early-stage investments, partnering with entrepreneurs solving meaningful problems, engaged community to spread ideas and opportunities.
- Notable Investments: Pinterest, Shopify, Airbnb.
- Basis Set Ventures
- Details: Basis Set Ventures is a venture capital firm that has been a significant investor in Momentum. They focus on early-stage investments in technology companies.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Not explicitly mentioned.
- Stage 2 Capital
- Details: Stage 2 Capital is a venture capital firm that participated in Momentum's Series A funding round. They focus on helping companies scale their go-to-market strategies.
- Investment Focus Areas: Go-to-market strategies, scaling businesses, early-stage investments.
- Notable Investments: Not explicitly mentioned.
- Leadout Capital
- Details: Leadout Capital is an investment firm that has been involved in Momentum's funding rounds. They focus on early-stage investments in innovative companies.
- Investment Focus Areas: Early-stage investments, innovative companies, technology sector.
- Notable Investments: Not explicitly mentioned.
- Inovia Capital
- Details: Inovia Capital is a venture capital firm that has invested in Momentum. They focus on partnering with founders to build impactful and enduring technology companies.
- Investment Focus Areas: Technology, early-stage investments, impactful companies.
- Notable Investments: Not explicitly mentioned.
What's Next for Momentum?
Momentum stands at the cusp of significant growth opportunities, driven by its AI-driven customer intelligence platform. With the recent $13 million Series A funding, the company is poised to accelerate product development, expand its market reach, and enhance its platform's capabilities. The addition of high-profile customers like Ramp and 1Password underscores the vast potential for further market penetration.
Future fundraising rounds, such as Series B and C, seem likely as Momentum continues to demonstrate success and attract investor interest. The backing of prominent investors like FirstMark Capital and Stage 2 Capital positions the company well for future growth and potential strategic acquisitions to bolster its technology stack.
However, Momentum faces challenges, including competition from other AI-driven platforms and the need to maintain rapid innovation. Ensuring seamless integration with existing tech stacks and maintaining data privacy and security will be crucial as the company scales. Despite these hurdles, Momentum's trajectory appears promising, with ample opportunities for continued expansion and success.
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