Kochi: FullContact, a US based provider of contact management platform for professionals and enterprises, today announced the acquisition of Profoundis, a Kochi based provider of technology enabled human verified data research platform. This is the first-of-its-kind acquisition in Kerala’s startup community.
Funded by a group of angel investors since mid-2015, Profoundis was founded in 2012 by a group of enterprising technology professionals who were batch mates at the College of Engineering, Chengannur. The company was the first company from Kerala to get selected to the Microsoft Ventures Accelerator programme and one of the three companies to get selected for ‘Start-Up Chile’ in 2013.
FullContact’s purchase of Profoundis follows $25 million in new funding, which the company will use to accelerate its growth, recruit global talent and fund further acquisitions.
“Our goal is to be the smartest, most comprehensive, and most up-to-date address book on the planet.” said Scott Brave, CTO, FullContact. “The only way to truly achieve that is by integrating the best of human intelligence with machine intelligence. Profoundis is a key element of that strategy.”
FullContact will integrate all of Profoundis’ 70 employees, most of whom will remain in Kochi, into its global workforce and add human-based data research to its growing list of capabilities supporting its strategy for expansion and rapid growth. This combination will establish FullContact as a market leader in data quality and data breadth across its contact management solutions for individual professionals and businesses and have a direct impact on the company’s revenue and sales.
“As a strategic partner, Profoundis has been instrumental to adding value and increasing the effectiveness of our data solutions for our clients,” said Bart Lorang, Co-founder & CEO of FullContact.
“With Profoundis, we were on a mission to help businesses do better by providing additional contextual data about organizations and people,” said Arjun R Pillai, Co-founder & CEO of Profoundis who will be FullContact’s Head of Data Strategy. “Becoming part of the FullContact team allows us to further execute on this mission globally, and together, our users will benefit by having more detailed information about their contacts, allowing them to be even more awesome with people.”
Kerala Biz News