Logik.io to Build Enhanced Configuration Engine with New Funding
Logik.io, a company founded by current CPQ technology pioneers, has raised over $10 million to help B2B businesses improve complex sales processes and enable e-commerce selling.
Fremont, CA: Additional funds can be used by a firm for a variety of purposes. Funds can be used for enhancing working capital, expansion, purchasing new assets, refilling a stock, recruiting more workers, or refinancing to pay off current debt. Logik.io has raised $10M in seed funding with High Alpha leading the charge, and Salesforce Ventures and other private investors joining in.
Businesses are searching for methods to open up eCommerce selling channels and exchange correct information with their ERP and supply chain apps as they expand on the success they've seen with Salesforce CPQ in optimizing their Quote to Cash process. Logik.io accomplishes this by layering a configurator on top of Salesforce CPQ, a Salesforce AppExchange app.
Logik.io expands Salesforce CPQ by delivering complicated logic, arithmetic computations, dynamic bills of material, split second performance, and scale, all while utilizing the Salesforce data format. Logik.io is also built to integrate with existing eCommerce platforms, allowing for guided selling and configuration for B2B and B2C self-service sales.
“We are building a truly innovative technology for companies looking to improve their CPQ experience and enable B2B e-commerce,” said Christopher Shutts, CEO, Logik.io. “We know both buyers and sellers demand speed and convenience throughout the sales process, and Logik.io delivers on that promise with lightning fast selection and configuration tools.”
“From our experience building and operating BigMachines and Steelbrick, this team has a great understanding of how configuration technology was built, where it’s strong, and where the next evolution is going,” comments Godard Abel, Executive Chairman, Logik.io. “We’re already seeing significant demand in the market, and this investment will fuel the team to deliver on what the market needs quickly. “