Sep 3, 2015

Friends (0) June 2, 2010    4 Views    1 Comment peHUB has learned that Zift Solutions, a Raleigh, N.C.-based provider of SaaS that helps corporations create controlled marketing campaigns for channel partners, has raised $500,000 in Series A funding from Southern Capitol Ventures. The round could be topped off at $1.5 million, if Southern Capitol opts to bring on a syndicate partner. The company has already been around nearly three years due to bootstrapping, and has secured customers like HP and Red Hat. “They help clients better communicate its marketing message to its partner programs,” explains Jason Caplain of SCV. “For example, the technology allows a company like HP to create different email or website templates that contain some basic, unchangeable marketing materials, but which the channel partners also can customize.” This sort of thing doesn’t normally rate its own post here (that’s usually what our news section is for) but I’ve been thinking a lot about North Carolina startups since returning from the VCIC Finals last month. Specifically, I’ve been thinking about the financing troubles they face. Southern Capitol Ventures is an active firm in Research Triangle Park, as is Intersouth Partners and NC Idea. After that, there really aren’t any local firms doing much local investing. Moreover, the lack of a nonstop flight from San Francisco to RDU puts even more financing pressure on local startups. I talked about the situation a bit with Zift co-founder and CEO Ken Romley, who previously was president and CEO/CTO of local startup SmartPath (acquired by DoubleClick). “Getting talent around here is pretty easy, because of the strong academic institutions and the general lifestyle,” Romney explained. “But financing is definitely hard to come by because there are so few VCs here on the ground. You’d think there would be more, considering the number of young tech companies we have.” Romley adds that Zift’s financing round should take it to profitability sometime next year – it’s already been around three years thanks to bootstrapping – after which it may consider a $5-$7m Series B round. 1 Comment Eric Boggs     June 2, 2010 There aren’t many local firms in the Triangle, but plenty of regional firms are doing deals in the area. Trinity, Valhalla, ATV, Chrysalis, and others. Not a lot of West Coast interest…which is the bigger issue. Leave a Reply