DoubleDutch, an Enterprise mobile startup has recently raised a $ 4 Million in its Series B funding round. The company had earlier raised a $2 Million from its Series A funding round.
The funding round was mainly led by Floodgate and also had participants like Lightbank and Bullpen capital. Mike Maples Jr. from Floodgate will now serve on the board of directors after the funding.
Having hardly spent any of its money raised from the earlier funding, the company’s CEO Lawrence Coburn says, “Two of our last three quarters have been profitable, and we like to call it ‘accidentally profitable.’ I’m not super proud of that. I feel like we should be spending faster.” With this increased cash cushion, that situation will soon change,” –as reported by Techcrunch.
“We should be spending more money,”
Offering applications for Enterprise CRM, Events and Customer Service, the company is now planning to grow itself in terms of hiring, improving its sales team and international expansion. Having grown from, 6 to 24 employees, it aspires to come up to 50 employees within the next year and increase its sales team from 4 to 30 very soon. It also aspires to open its offices in Europe in 2013.
In fact, Coburn describes this spending and investment as a “big bet on the deconstruction of software.”
He believes that, unlike this complete suite of combined functions as found in online software or a desktop, Enterprise Software will have a future with mobile applications performing just one function.
“We get a lot of our inspiration from what’s happening on the consumer side,” says Coburn. “Obviously, we’re big fans of Path and Foursquare and Pocket, but the service we watch most closely is Facebook,” he adds. “And what we’ve been seeing from Facebook over the last six months is interesting – we’ve seen an effort by them to almost chop up their giant app with all its features and functionality into mobile-first apps. We saw it with Messenger, with [Facebook Camera] and with Instagram. We think it’s a precursor as to what’s going to happen in the enterprise.”
DoubleDutch is mainly focused on bundling CRM systems extracted to make individual mobile apps. The systems include Flock, a flagship application from DoubleDutch, which is mainly an application foe Event management, Hive an application for lead management that also helps in Salesforce, and Pride, an application mainly meant for customer service.
Now growing at a 60 percent each month, the company is on its way to making a $10 million.