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Canvas, InterWest lead $15.5m Series B for Totango

5 Feb 2014

ecommerceCustomer engagement technology company Totango, which saw 400 per cent growth last year, has raised $15.5m in a Series B round led by Canvas Venture Fund and InterWest Partners.

Existing investors Pitango Venture Capital and Gemini Israel Ventures also participated in the round.

The company’s technology monitors customer behaviour and makes suggestions about the right action with each customer to businesses. It currently has more than 100 paying customers including Zendesk, Zoho, Jive, Optimizely, SendGrid, OpenDNS, and Keynote Systems.

InterWest general partner Doug Pepper said, “As early investors in SaaS companies such as Marketo, Optimizely, and Spredfast, we look for startups that are category creators and disruptors.

“We are very impressed with the innovation Totango is driving. Not only are they blazing a trail with their customer engagement monitoring technology, but they are also fundamentally changing how companies approach customer success through use of behavioral data. We believe the demand for Totango’s solution is going to explode.”

Canvas is a venture fund that was closed on $175m in September last year.

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