Philadelphia software-as-a-service startup Crossbeam raised a $76 million Series C round led by Silicon Valley venture capital firm Andreessen Horowitz.
Additional investors are Redpoint Ventures, FirstMark Capital, First Round Capital and Uncork Capital, along with Salesforce Ventures, Slack Fund, HubSpot Ventures and Okta Ventures. Crossbeam CEO Bob Moore announced the investment in a blog post on Tuesday.
Crossbeam runs a platform that lets companies share data between firms to build or improve partnerships. The company has “thousands” of clients, including hundreds of unicorns and multiple publicly traded companies, Moore wrote.
Crossbeam will be “doubling down” on investments in security and privacy best practices and hiring, he said.
The Center City startup’s latest intake of capital comes just over a year after it raised a $25 million Series B round. Crossbeam had a valuation of $120 million following the Series B round in August 2020, according to PitchBook.
The company has now raised $116.8 million since 2018.
Moore and Co-founder Buck Ryan founded Crossbeam in 2018 after Moore sold his startups RJ Metrics and data-centric spinout Stitch. Crossbeam started with a team of 10 and has since grown to a crew of nearly 70.
Crossbeam isn't the first Philadelphia startup to receive an Andreessen Horowitz investment. The Silicon Valley VC powerhouse has participated in funding for Dbt Labs, formerly known as Fishtown Analytics, and T-cell immunotherapy firm Tmunity.
