TrustRadius Raises $5.5 Million in Venture Capital

Vinay Bhagat, founder and CEO of TrustRadius, courtesy photo.

TrustRadius, founded in 2012, announced Wednesday it has raised $5.5 million in additional funding for its technology review platform.

The Austin-based company reported LiveOak Venture Partners led the Series B round with participation from existing investor Mayfield. To date, TrustRadius has raised $13 million.

In addition to the funding, the company added Bill Macaitis, former chief marketing officer at Slack and Zendesk and senior vice president at Salesforce, as a board advisor.

“The B2B buyer’s journey has changed, and authentic user insights are now a critical component of the technology purchasing process,” Venu Shamapant, General Partner at LiveOak Venture Partners, said in a news release. “TrustRadius has succeeded in building a trusted resource for buyers as well as a powerful platform for vendors to leverage their customer’s voice in marketing, sales, product strategy and more. Given their strong execution and innovative approach, LiveOak is thrilled to partner with TrustRadius to accelerate their growth and redefine how B2B vendors use customer reviews.”

With the funding, TrustRadius plans to invest in product development and marketing and also hire new employees.

“While buyers are conducting more independent research than ever before, marketing and sales engagement remains a critical influence in considered B2B purchases,” Vinay Bhagat, founder and CEO of TrustRadius, said in a news release. “Vendors that proactively use the voice of their customers are seeing tremendous results across their funnel, from increasing lead conversion to closing deals faster. Our unique strategy centers around driving the highest-quality customer content via in-depth reviews, and empowering vendors to effectively use that content in their own channels, as well as ensuring buyers can easily access the trusted insights they seek.”

TrustRadius works with more than 100 technology brands including AlienVault, Marketo, TrendKit, Qubit, IBM, Oracle and TIBCO.

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