Pipeline uses LinkedIn to help sales teams with lead generation.
Toronto-based Pipeline Signals has secured $507,000 CAD ($400,000 USD) for its all-equity, SAFE pre-seed round that closed in January.
Pipeline CEO Jamie Shanks told BetaKit that the funding round saw the participation of a group of private investors.
This group includes TK Herman, CEO of Factor AE; Steve Richard, CEO of Execvision; John Barrows, CEO of J Barrows Sales Training; Howard Brown, CEO of Revenue.io, Kevin Casey, director of revenue enablement at Balto; and Scott Howard, director of sales at CoreBTS.
Shanks noted that the new capital is the only external funding round the company has raised, previously being bootstrapped and funded with organic sales.
Founded by repeat founders Shanks and Amar Sheth (COO) in 2021, Pipeline provides signal intelligence monitoring solutions, and touts itself as an extension of a company’s sales team.
The company claims to mine information from LinkedIn to help sellers with lead generation. “What sets us apart from [lead generating] companies is that we offer a complete managed service that mines data from both your target and existing accounts,” said Pipeline.
Pipeline also “map[s] your total addressable market, giving you valuable insights on where you can expand your pipeline, existing networks you can leverage, and other verticals that you can tap into,” the company stated.
Shanks and Sheth’s first company, Sales For Life, offered customers the ability to build Boolean searches in LinkedIn to identify opportunities or threats in their accounts. However, time management became an obstacle for sellers, according to Shanks. Pipeline was created to tackle this problem.
Armed with fresh funds, Pipeline intends to scale its engineering and product development teams. The startup is also building a database of over 100,000 companies where Pipeline “pre-monitor and pre-mine [five] signals for each account in advance, and give them signals for free,” said Shanks.
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