Armed with a new CEO, a technology firm in Durham has raised more than $5 million.
Corevist closed on $5.4 million, according to a securities filing that dropped Thursday. The sum came from five investors, including Jurassic Capital, the investment firm spearheaded by Joe Colopy, the serial entrepreneur behind Bronto Software in Durham.
Corevist makes business-to-business portals and e-commerce accessible to manufacturers running enterprise resource planning software SAP ERP. It has clients in the U.S., U.K and Europe, Canada, Africa and Asia.
Corevist CEO Andy Martin, who recently replaced retiring CEO Sam Bayer, said the financing translates to growth.
"We’re going to make some pretty big investments in sales and marketing efforts and that will result in growth from a headcount perspective," he said.
The overall headcount, currently at 50, will likely increase.
"My guess is we'll be able to grow that by 50 percent," he said.
Some of those hires will be in the Triangle, where the management team is currently looking for space.
In particular, Martin said the firm plans to build a direct enterprise sales team and expand its digital marketing efforts.
In a blog post penned earlier this month, the Jurassic Capital team said it had first invested in Corevist two years ago.
“We had been impressed by their bootstrapped upbringings, significant industry expertise, and passion for growing the company,” the post reads. “Over the last couple years, we helped support the team by bringing on accomplished executives from our network to complement the group already there, helping grow the company significantly during that time.”
Other investors participating included Recurring Capital in Austin, Texas, and Florida-based Halstatt.
Corevist first raised outside capital back in 2020, a $650,000 raise, according to securities filings. With the latest financing, the firm is at more than $6 million.
About half of the team is located outside of the U.S. Most of the U.S. team is located in Durham, Martin said.