TrustRadius Gets $5 Million in Funding

trustradius_logo_betaAustin-based TrustRadius, a crowdsource software review site for companies, landed $5 million in Series A financing from Mayfield Fund.
Rajeev Batra, Mayfield Fund partner, will also join its board of directors.
Last November, the company debuted at Innotech Austin’s Beta Summit.
TrustRadius has a platform that allows people to review major software programs so other companies and organizations know what to expect from them and whether they meet their needs. The company compares its software review site to consumer-facing applications like Angie’s List, Yelp and TripAdvisor.
“We’re thrilled to collaborate with Mayfield, a leading global venture capital firm with a strong record of backing companies that have changed the way the world operates and, in the process, become industry leaders – 3PAR, Marketo, Solarcity and StorSimple, to name a few,” Vinay Bhagat, Cofounder and CEO, TrustRadius, said in a news release. “Mayfield shares our vision which is to empower enterprise technology buyers and users everywhere in a way that will forever change the way technology is bought and sold.”
Before Trust Radius, Bhagat founded Convio, which went public in 2010 and was acquired last year for $325 million.
“Although U.S. businesses spend nearly $3.8 trillion annually on enterprise technology and services, until now, they have had to evaluate and select solutions based on biased and/or patchy information,” according to the company.
With the latest round of funding, TrustRadius plans to hire more employees, increase membership, expand its base of reviews and other content and further develop its product.

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