Local software firm hopes to grow after VC infusion

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Indianapolis-based Salesvue LLC, which produces productivity software products for sales departments, is looking to raise $5 million to grow its sales and marketing team, CEO Bill Johnson told IBJ.

Johnson said he’s in second- and third-stage conversations with venture capital firms from each of the coasts and expects to complete a deal by 2015’s second quarter.

Founded in 2007, the software company took a slight pivot 18 months ago by rewriting its subscription-based application for use on Salesforce.com’s popular sales platform. New users have skyrocketed since then, and Salesvue booked more new contracts in 2014’s fourth quarter than in all of 2013.

“Being an engineering-centric organization and seeing what we accomplished in the fourth quarter with our small sales team,” Johnson said, “we realize that if we had a bigger sales team, we’d get in front of more customers.”

The company has 21 employees. Three of those workers are in sales and marketing, and Johnson said he hopes to use the capital infusion to grow that department to 25 employees in 2015.

Salesvue has about 65 clients, including local customers Angie’s List and Scale Computing. Its contracts are based on seats, and no single company accounts for more than 10 percent of its seven-figure annual revenue total, Johnson said.

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