The Austin-based startup reported that Arcus Capital Partners led the Series B round with participation from Series A investors including Central Texas Angel Network, Atlanta Technology Angels, Golden Seeds and Cowtown Angels. To date, the company has raised $8 million.
“Wisegate has hit on a massive need in the enterprise IT market to connect senior practitioners with their peers in order to provide real-time data and insights. The traditional analyst firm model of research and reporting cannot move at the pace of technology today, leaving a gap in the market that Wisegate’s social and matching algorithms help to fill. Wisegate helps IT help themselves and I am a big believer in this model and this team,” Ross Singletary, Managing Partner of Arcus Capital Partners, said in a news release.
Wisegate has created a platform for IT leaders to interact and share information. It does not allow marketers, vendors or advertisers to participate.
“Just as we are selective in who can join our membership, we’ve also been very selective with our investors and are proud of the continued support and enthusiasm shown to us in this round. Our Series A allowed us to prove out our product in the market, and with the significant growth we’ve had along with renewal rates over 90 percent, we have done that and then some. This round will allow us to accelerate our growth,” Sara Gates, Wisegate’s Founder and CEO said in a news release.
Wisegate plans to use the funds to hire marketing, sales and customer relations staff.