Strategic acquisition supports company’s mission to build the world’s most adaptive and powerful platform for managing contacts
FullContact, a US-based provider of the most powerful contact management platform for professionals and enterprises, has announced the acquisition of Profoundis, a Kerala-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 batchmates at the College of Engineering, Chengannur, Kerala. Based at Startup Village, Kochi, the company was the first company from Kerala to get selected to the Microsoft Ventures Accelerator program and one of the three companies to get selected for ‘Start-Up Chile’, an initiative by the Chilean Government in 2013.
As per the release, 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.
FullContact will integrate all of Profoundis’ 70 employees, most of who 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.
Bart Lorang, co-founder and CEO of FullContact said, “As a strategic partner, Profoundis has been instrumental to adding value and increasing the effectiveness of our data solutions for our clients. Together we can further accelerate the growth of FullContact as we continue to build the most powerful fully-connected contact management platform for professionals and businesses.”
Arjun R Pillai, Co-founder and CEO of Profoundis who will be FullContact’sHead of Data Strategy remarked, “With Profoundis, we were on a mission to help businesses do better by providing additional contextual data about organizations and people. 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.”
