Pingboard Raises $4.3 Million in Additional Funding

Pingboard’s team, courtesy photo.

Pingboard, an Austin-based startup spun out of Capital Factory, has raised $4.3 million of a $5 million round, according to a filing with the Securities and Exchange Commission.

The company, founded in 2013, makes organizational chart software for companies. It now has more than 1,000 customers, including “GoFundMe, Popsugar, Udemy, Sequoia Capital, WPEngine, and the Linux Foundation.” according to a post in Venture Beat by Bill Boebel, Pingboard’s Chief Executive Officer and co-founder.

To date, Pingboard has raised $7.5 million, according to Boebel. Its latest investor is Active Capital, a new fund based in Texas and led by former Rackspace executive Pat Matthews and Rackspace Co-Founder Pat Condon. Matthews also founded Webmail.us, an email hosting company, with Boebel in 1999 in Blacksburg, Virginia and sold it to Rackspace in 2007. Active Capital led the round with participation from previous investors including Boebel, Silverton Partners, and Capital Factory.

Boebel wrote a very detailed post on Venture Beat about his company’s latest funding round and why, in his words, he’s building a flywheel and not a rocket ship.

Speak Your Mind

*