OppSource, a St. Paul-based software firm that helps companies automate the sales-prospecting process, has raised $1.22 million in an initial round of equity funding led by Montana-based Next Frontier Capital.
"OppSource is at the forefront of a huge market opportunity," said Next Frontier General Partner Will Price. "Companies of every shape and industry are reengineering their sales processes to align with today's modern buyer. OppSource offers a solution that is perfectly timed to help business-to-business companies modernize their sales engagement."
OppSource CEO Mark Galloway, who said the downtown-based firm has funded its own operations since its founding in 2008, will use the fresh capital to invest in software programers and marketing. OppSource should increase employment from eight to as many as 15 by the end of the year.
"Our long-standing industry experience and ability to be nimble when it comes to managing the latest trends puts us in the perfect position to take advantage of market opportunities," said Galloway.
He declined to predict 2017 revenue.
OppSource says its sales-development software helps sales teams markedly increase their sales-development, planning and prospecting productivity.