Traction Complete Lands $5 Million in Series-A Growth Financing After Spin-Out From Salesforce-Acquired Traction on DemandTuesday, January 24, 2023
Vancouver, BC, January 24, 2023--(T-Net)--Traction Complete, a spin-off company from Traction on Demand, and a leader in revenue operations apps native to Salesforce, today announced the closing of its first substantial funding.
Following the spin-out from Salesforce-acquired Traction on Demand, the company announced that it has now secured $5 million in growth financing led by Vancouver's Pender Ventures and San-Francisco-based Thomvest Ventures.
CEO David Nelson, CEO, Traction Complete (pictured on left). Traction Complete was recognized earlier on the 2019 Ready to Rocket list of high-growth companies
"Our revenue operations solutions are engineered from over a decade of consulting experience, understanding the complex data challenges of Salesforce users," explains David Nelson, CEO of Traction Complete.
Traction Complete says it started building products in 2014 as a part of Traction on Demand (since acquired by Salesforce in Feb 2022). Being experts in Salesforce, Traction Complete says it saw that that their customers kept coming back to the same data challenges, so they built solutions around what they needed to grow and scale faster.
In 2018, they formalized as a subsidiary of Traction on Demand; and in 2022, they left the Traction umbrella as an independent spinoff company.
The new $5 million in growth funding will fuel Traction Complete's hiring efforts to meet customer needs as the company says it has experienced accelerated growth year over year, as well as marketing initiatives to let the world know that their suite of solutions exists.
Complete Hierarchies (product screenshot pictured below) is the first automated account hierarchies solution for Salesforce, built to make sales territory planning more efficient and effective.
Complete Leads (product screenshot pictured below) is a powerful and flexible automated routing, lead assignment, and matching tool.
Most recently, the company launched Complete Clean, a data cleansing tool that manages duplicate data.
"We believe that data is this incredible instruction set for businesses if done properly", Nelson said. "Revenue Operations teams are trying to make more data-driven decisions and this funding helps us to develop our new solutions; empowering businesses with cleaner data and better visibility into customer relationships, enabling more effective sales planning and territory execution through automation."
"We recognize the current economic climate is making it tough for a lot of businesses," added Nelson. "This funding is a great compliment to the team and a testament to the impact our products are having on sales teams."
Maria Pacella, Managing Partner, Pender Ventures
"Traction Complete aligns with our investment thesis of enterprise systems of insight and workforce empowerment," said Maria Pacella, Managing Partner of Pender Ventures.
"Traction Complete is automating manual data entry and tracking to provide superior organizational insights for sales professionals in order to drive better processes and revenue growth. We couldn't be more excited to partner with the team on their journey to 'rev up' RevOps and empower sales teams worldwide."
Since being founded by Traction on Demand's Greg Malpass, the company has enabled high-growth organizations like DocuSign and the LA Dodgers to sell more effectively and scale faster through technology.
About Traction Complete
Traction Complete creates solutions that help people manage data complexity, effortlessly. Our suite of Salesforce apps automates data cleanup, account hierarchies, matching and routing — so you don't have to. We're on a mission to empower organizations like Asana, Cisco, and DocuSign to simplify, save time, and scale faster. Learn more at www.tractioncomplete.com.
About Pender Ventures
Pender Ventures is a thesis-driven venture capital investor focused on B2B software and health tech startups at the inflection point between commercialization and scale. As hands-on, high-conviction investors, Pender Ventures' diverse team leverages decades of experience to add operational and strategic value to its portfolio companies. Learn more at: https://www.penderventures.com/
About Thomvest Ventures
Thomvest Ventures is a venture capital fund based in San Francisco. They also invest across Canada via Thomvest Asset Management. They are a stage agnostic fund and their investment per company ranges from $500K to more than $20M. Learn more at: https://thomvest.com/
Port Moody (InfoTech)
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