TrustRadius Raises $5 Million In Series A
TrustRadius is a company where professionals can share their opinions about business software. TrustRadius users share reviews and discussions about software. TrustRadius has raised $5 million in Series A funding led by Mayfield Fund. TrustRadius plans on using the funding to increase their staff and expand their website content. Mayfield Fund partner Rajeev Batra will be joining the TrustRadius board of directors.
Vinay Bhagat, TrustRadius CEO and founder, came up with the idea for TrustRadius due to problems he experience at his last company Convio. Convio went public in 2010 and was acquired for $325 million. Bhagat remembers buying expensive software and deploying it to hundreds of employees, but later decided it was a bad fit.
Launched in May, TrustRadius uses peer reviews of enterprise software to offer side-by-side comparisons. Scaling the content has been a challenge for TrustRadius so far, but they are continuing to grow.