Eight Roads Ventures leads Series A round in software startup LeadIQ

ENTERPRISE software startup LeadIQ has raised up to US$10 million in a Series A round led by Eight Roads Ventures, the venture firm backed by Fidelity, the company announced in a press statement on Thursday evening.

The funding round was joined by angel investor Tim Draper of Draper Associates as well as the LAUNCH Fund, owned by angel investor Jason Calacanis. Eight Roads invested out of its India and South-east Asia fund.

Founded in 2015, LeadIQ provides a lead data and sales prospecting software platform for enterprise and mid-market clients. It allows users to research and capture potential leads and integrates that into various sales acceleration and customer management platforms.

Headquartered in San Francisco, LeadIQ has offices in Singapore and New Hampshire in the US. The company will tap the new funding to invest in new product research and development, market expansion and hiring.

"Today, a sales representative is constantly under pressure to close more deals and faster... Organisations need a solid sales tech stack that is integrated, where data flows seamlessly across. This is where LeadIQ makes a difference. The platform allows reps to do more and quicker, cutting down unwanted manual processes," said Dave Ng, head of South-east Asia at Eight Roads Ventures.

Mei Siauw, chief executive of LeadIQ, added: "We are building LeadIQ to simplify the workflow of sales teams, so they can focus on meaningful and relevant activities. Every second that a rep is wasting on repetitive tasks, chasing the wrong prospect, is not only hurting their company, but our economy as well."