Calabasas, CA – November 3, 2014
LeadFerret, Inc. announced today that it has raised $250,000 in seed stage financing from Redcrest Enterprises. The Southern California based internet startup intends to use the funds to add key staff to their development, data processing, and sales teams.
LeadFerret provides users with an amazingly powerful business lead sourcing resource by connecting its cloud-based world-class data management platform to complete information on 17 million+ business contacts, including email addresses and 10s of millions of social profiles. The platform is accessed through LeadFerret.com and has become extremely popular in a relatively short period of time, with over 5 million visitors to date thanks largely in part to their unique offer of free access to complete information for all contacts in their database.
Prior to this investment, LeadFerret had operated only as a bootstrapped startup, yet was able to achieving a positive cash flow via their freemium business model, and 100% growth from 2013 to the same period in 2014. With plans to continue aggressive growth through monthly subscribers, and the introduction of new product offerings, LeadFerret projects an ever increasing rate of growth as they aim to become the go-to business information source for over 40 million+ salespeople, marketers, recruiters, insurance agents, and small business owners in the US.
LeadFerret was founded by a group of industry professionals with a reputation for pioneering new innovations in the B2B data space, including Co-Founder and CEO Forest Cassidy, who says: “We’ve accomplished a lot already with little more than great ideas and the most passionate group of data geeks on the planet, but we still have a long way to go, so we couldn’t be more excited about this opportunity to accelerate revenue growth and product development by bringing on key new team members. We have a vision to make LeadFerret the world’s most empowering sales prospecting tool, and this will help get us there.”
Stephen Edkins of Redcrest commented: “Making this investment in Leadferret we have been impressed by the drive and commitment that Forest and his team show to their vision of removing the friction sales people have in finding the right prospects. Customer feedback is excellent and we expect growth to accelerate as the new resources allow them to roll out the corporate platform.”
About Redcrest Enterprises
Redcrest is a privately-held company that invests in the fastest-growing areas of Web2.0. The company’s focus is on companies whose core teams are not based in the Bay Area and hence can tap into wider pools of talent. Redcrest looks for founders that have the ability to take it the distance, and has an established track record of helping portfolio companies enter international markets.
LeadFerret, Inc offers free access to their cloud-based data management platform, which connects users to a database with complete information for over 17+ million business contacts, including email addresses and social media profile links. Users can search and view all 17+ million records for free, with no limitations, and only pay when they want to download records. For more information, go to: http://www.LeadFerret.com