These days the words "financing" and "New York investors" doesn't exactly stir up our most noble emotions. But in this case, it's a good thing.
Salesconx is an online marketplace and expert network for selling and business referrals. They've just announced receipt of US$ 1.5 million in Series A financing. This load of dough came from a consortium of New York investors with broad experience in building successful companies.Series A funding is the first round of stock offered during the seed or early stage round by a portfolio company to the venture capitalist. Series A preferred stock is convertible into common stock in certain cases such as an IPO or the sale of the company. Salesconx, having launched in January of this year, plans to use these funds to expand its presence in the U.S. by way of building its technology platform.
Securing funding for Salesconx may not have been hard to come by, considering its positive growth over the past few months. With more than 700 companies being a part of their marketplace, representing over 40 industries across the U.S. and Canada, including accounting, computer services, marketing, manufacturing and retail, among others; Salesconx connects selling experts with companies seeking introductions.
By allowing buyers and sellers to interact directly, Salesconx leverages their social networking applications; and, with these new funds, the online marketplace has high hopes of becoming "a sea-change in Sales 2.0 technologies and their implementations".
Salesconx positions itself as "LinkedIn meets eBay." LinkedIn managed to show that professional networking can be monetized. Salesconx, fueled by a partner program of over 50 companies, may have a bright future ahead of them. We'll just have to wait and see.