InsightSquared nets $23m in Series D led by Tola

InsightSquared, a revenue intelligence provider, has netted $23m in its Series D funding round led by Tola Capital.

Existing backers Accomplice, Draper Fisher Jurvetson, Two Sigma and NextView also committed to the new investment. As part of the transaction, Tola Capital principal Aaron Fleishman will join InsightSquared’s board of directors.

Boston-based InsightSquared builds revenue intelligence software to help operation professionals make better decisions through real-time information. Its solution is used to forecast more accurately, manage pipelines and revenue, and create data-backed plans and analysis.

This equity injection will be used to grow the company’s engineering and product teams and build a enterprise sales and services business to help cater for larger organisations.

InsightSquared CEO and co-founder Fred Shilmover said, “We’re thrilled to team with Tola Capital. I was impressed from our initial meeting. They opened with an insightful thesis on the space – a thesis that closely matched our go-forward strategy. The team at Tola brings deep expertise along with the capital that will fuel our growth.”

The company’s Series C raised $13.5m in 2014, with participation coming from Atlas Ventures, Draper Fisher Jurvetson, NextView Ventures and Two Sigma Ventures.

Late last year, Tola contributed to the $25m funding round of compliance software developer Convercent. The company helps businesses to engage with their employees, understand operational risks and improve performances.

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