Irish relationship management firm Datahug has secured a US$1.5m investment in seed funding to boost its customer acquisition and product development.
The investment was led by Oyster Technology Investments, which includes Ron Conway, an early investor in Twitter, Google and PayPal.
Datahug was the winner of last year’s Spark of Genius competition at the Dublin Web Summit.
Since then, its user base has grown to hundreds of private networks, with clients involved in the consulting, legal, insurance, technology and investment sectors.
The company provides a private search engine, letting users find out who in their organisation best knows a company, partner or lead. It aims to reduce cold calling and time needed to connect with who they need to contact.
“With this funding, Datahug will keep pushing to unlock and organise the hidden network of contacts that exists within every organisation,” said CEO and co-founder of Datahug Connor Murphy.
“We believe that using Datahug we can unlock 1,100 unique connections per employee. To date, we have unlocked over 4m relationships, removing the need for cold calling as our users benefit from introductions through contacts, thus accessing hundreds of leads and saving thousands of hours on data input and maintenance,” he said.