Crossbeam, a Philadelphia marketing data software-as-a-service (SaaS) firm, says it has raised $3.5 million in “seed” venture capital from a group of investors led by Philadelphia-based First Round Capital and Uncork Capital, Palo Alto. The group also includes Village Global (not Village Capital, corrected), Slack Fund, and individual investors. Crossbeam says it will use the money to launch its service, onboard early customers, and expand its headcount to a total of 10. Uncork partner Andy McLoughlin has joined the Crossbeam board.
Founders Robert Moore and Buck Ryan confirmed the investment in a blog post. “This is my third time working with the incredible team at Uncork,” wrote Moore, noting that Uncork had backed his previous companies RJMetrics (bought by Magento in 2016) and Stitch (bought by Talend in 2018). Adding First Round, cofounded by Josh Kopelman (who also chairs the board that controls the Inquirer), “is a dream come true,” having “admired their portfolio and shared their Philly roots,” Moore added.