LevelEleven Secures $2 Million in Additional Venture Financing
New Funding Includes the First Investment From New Fund Launched by Former NBA Star Jamal Mashburn and NFL Player Winston Justice
DETROIT, Mich., September 10, 2013-- Detroit-based LevelEleven, a leader in enterprise gamification and CRM solutions, today announced $2 million in additional venture funding from Detroit Venture Partners, Hyde Park Venture Partners, salesforce.com and angel investor David Fry. The round also included the first ever investment from Mashburn Justice Capital Partners, a new fund that launched today by former NBA player Jamal Mashburn and current NFL player Winston Justice.
The new financing will be used to scale the LevelEleven team to meet rising demand from customers, increase sales and marketing efforts, and further product development. Recent product enhancements now available for LevelEleven's flagship gamification platform Compete, include: real-time feedback when completing a key sales behaviors, a new user interface for the competition builder, leaderboards with more powerful creative, real-time 'breaking news' bursts for LeaderTV, and a new month-to-month pricing model. This fall, LevelEleven will be introducing a new mobile app, and unveiling strategic integration with top cloud computing providers as well.
"We've seen LevelEleven's progression over the past year from a small startup in Detroit to successful company with a nationwide presence," said Mashburn. "Given our athletic backgrounds, Both Winston and I understand the motivational element inherent in competition. We believe that same competitive fire that drives us as professional athletes can be applied to the business world in order to motivate sales teams, so the decision to invest in LevelEleven was an easy one."
LevelEleven, which is located in the heart of downtown Detroit's M@dison Building, a growing high-tech hub, previously raised $1.5 million in April 2013.
"This latest investment further validates the great traction we are seeing in the market and our vision around using competition and gamification techniques to motivate salespeople," said LevelEleven Founder and CEO Bob Marsh. "Getting the support of both new investors and having the continued support from local Detroit investors enables us to maintain our aggressive growth track, which has seen us triple our customer base in the past 10 months."
LevelEleven currently has more than 85 customers, including Comcast, Delta Airlines, OpenTable, Stanley Black & Decker and Concur, among others. For more information, visit www.leveleleven.com.
LevelEleven works with VP's of Sales at companies including Comcast, OpenTable, Morningstar, Stanley Black & Decker and dozens of others who are looking for ways to engage their teams around key initiatives, and drive usage of CRM to better manage their business. LevelEleven's lead product, Compete, is an easy-to-use enterprise software tool to create competitions and leaderboards around any behavior that can be tracked in your CRM system. Compete provides a step-by-step configurator to pinpoint the behaviors you want to motivate, and create high impact leaderboards that tap into salespeople's competitive nature. Unlike most enterprise software and gamification applications in the marketplace, Compete is native to salesforce, allows clients to be 100% deployed in less than 30-minutes, and surrounds salespeople with leaderboards via web, email, social media, and their mobile device.
LevelEleven is based in Detroit, Michigan, and is part of the Detroit Venture Partners portfolio of companies.
About Detroit Venture Partners
Detroit Venture Partners (www.detroitventurepartners.com) is a venture capital firm that invests in seed and early-stage technology companies with a strong emphasis on Detroit-based startups. In addition to capital, the company provides hands-on coaching, mentorship, support, and resources to help drive growth and success. The firm was founded in 2010 by Josh Linkner, Dan Gilbert and Brian Hermelin. By backing the next generation of Detroit entrepreneurs, DVP aims to create jobs, urban density, and hope. For more on Detroit Venture Partners, visit http://detroitventurepartners.com/.
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