When you think “enterprise software,” industry leaders like Oracle, Microsoft and SAP may come to mind, but Entomo may not be on that list. The Bellevue, Wash.-based startup wants to change that.
Entomo has raised about $2.5 million of a $3.5 million round, according to a filing with the Securities and Exchange Commission. The company confirmed the investment to GeekWire and said it plans to beef up sales and marketing and get its product in front of more businesses. Entomo is not disclosing the names of investors in this round.
The startup offers channel revenue management software for business-to-business clients. In other words, Entomo’s products help customers maximize the money they bring in throughout the complex process of selling items to other businesses.
“We remove the friction all the way from opportunity to cash,” said Entomo CEO Sanjoy Chatterji. “Along that lifecycle, from finding an opportunity to doing a quote; to turning it into an auditor; to shipping the product; eventually collecting cash; paying rebates, there are lots of points of friction as well as lots of points of where margin and revenue can be lost.”
Chatterji founded Entomo in 1999. Before going into enterprise software, he was Founder and President of Trinetra Consulting Group, an organization that helped early-stage startups scale.
Entomo sells subscriptions to its software to customers like Brother, Targus, DishTV, and others. Chatterji believes the startup has the potential to take on big competitors if it can get the word out effectively.
“How did Microsoft compete with IBM when they started?” he said. “How did Oracle compete with IBM when they started? We have a better product. We’re more nimble. The time to value is much shorter. We can implement in three to four months compared to their implementations may take 12 to 24 months. But what they have, and what we don’t have, is really name recognition and that’s why we’re raising the funds.”