Canal Partners, an early stage venture capital firm based in Scottsdale, Ariz., has sold its interest in the call analytics platform CallRail, making it the fifth consecutive successful exit for the firm. Canal Partners originally invested in the startup in 2014 as part of a Series A round that helped propel the company's incredible trajectory and prepared them for their next phase of growth.
The initial investment also included capital from two well-known, and widely respected and successful serial entrepreneurs Wain Kellum, former partner at Canal Partners, and Reggie Bradford, an Atlanta-based 'techpreneur.' Canal Partners, along with Kellum and Bradford, provided strategic advisory and helped build out the management team to ensure the company's ongoing growth and profitability. Kellum joined the board and assisted in guiding the CallRail team, sharing his expertise from previous endeavors in telecom and marketing software.
"CallRail not only solved a need in the call analytics space with its unique and intuitive software that challenged the status quo, they were organized, customer-focused, and were completely disrupting an otherwise legacy industry," said Todd Belfer, managing partner with Canal Partners. "We recognized a product and leadership team with tremendous potential and knew we could support their continued growth with the initial injection of capital and strategic guidance at a critical time. Now, as the torch passes to new investment partners Sageview Capital and Leaders Fund, we look forward to CallRail scaling to all new echelons of growth."
CallRail enables those in industries that rely heavily on phone-based business leads -- such as attorneys, home service providers, and auto mechanics -- to identify the customer journey that led to the phone call and use that data to create better, more effective marketing campaigns. With mobile search and digital advertising continuing to dominate, CallRail's software is proving to be an imperative part of the digital marketer's tech stack. Canal Partners has sold its interest in the company with a new investment deal from Sageview Capital and Leaders Fund which positions them to further expand and dominate in the MarTech space.
"When we set out to raise our initial round of capital, it was important for us to find a true partner who aligned with our vision and values, and who understood what it took to scale a SaaS company," said Kevin Mann, co-founder and CPO of CallRail. "We found that in Canal Partners. They had a successful track record and standout reputation, and we had tremendous trust the strategic guidance they provided. They became an integral part of our rapid growth and market dominance."
Canal Partners has invested in and advanced more than a dozen companies to date, helping them increase market share in their respective industries and move to the next phase of growth. The firm focuses on growth-stage companies with proven, scalable business models, particularly internet technology and software-as-a-service (SaaS) companies.
CallRail provides call tracking and analytics to more than 65,000 companies and marketing agencies globally. CallRail's intuitive software helps data-driven marketers optimize the performance of their advertising campaigns, increase sales effectiveness, and improve customer retention. Learn more at www.callrail.com.
About Canal Partners
Canal Partners is a venture capital firm that provides professional investor services and capital to B2B software and internet technology companies that have market-proven products and services. Canal Partners creates, and increases value for, highly scalable, revenue-generating, growth-oriented companies in a variety of internet and software-as-a-service businesses. Canal Partners serves the Phoenix, Atlanta, and San Diego markets and works with select portfolio companies, actively participating in board, advisory, strategic, and support roles to increase scalability, financial stability, and shareholder value. Learn more at www.canalpartners.com.