Intelliworks grabs $10 M in Series B
Date: Thursday , November 02, 2006
Dev Ganesan’s Intelliworks grabs $10 M in Series B
Universities looking for a tool to woo students and keep track of alumni have a well-funded option in Intelliworks Inc, a Rockville, MD based maker of customer resource management solutions for universities. It has recently grabbed $10 million in Series B.
RedShift Ventures is the new investor in the company and has joined existing investors Columbia Capital and Novak Biddle Venture Partners, as the market for CRM in Higher Education takes off.
Dev Ganesan, CEO and President, says, “The financing will help fuel the organic growth of Intelliworks, as the firm accelerates its software penetration in CRM for higher education, and makes strategic acquisitions to further integrate and automate the core functions of recruitment, admissions, student services, and alumni relations.”
Higher education is experiencing the most significant transformation of its age where new technologies, new education delivery channels, shift in competitive forces, the revised needs, attitudes of students are changing the industry landscape. As such, CRM technology is becoming a quintessential requirement for managing a growing pool of constituent relationships.
“Our recent customer additions and momentum in the marketplace, coupled with this robust showing of investor confidence, validates both the opportunity and our position in providing the best breed of CRM solution for higher education,” Ganesan says.
Talking about the technology, Ganesan says Intelliworks is providing its CRM software as a service (SaaS), where collaboration and user community based feedback is continuously building intellectual property and creating the optimal “network effect.”
As such, higher education institutions and their staff members at all levels not only have access to daily transactions like marketing campaigns, they also have unparalleled ability to perform trend analysis where interactive marketing dashboards help users optimize decisions and build better business processes. This ‘insight-driven’ actionable CRM model is the reason why Intelliworks continues to be a chosen technology partner in higher education.