Argyle, the leading technology platform for identity verification, has secured $55 million in Series B funding.
This new funding will be used to grow the engineering and sales teams to continue to develop the Argyle product beyond what is available today.
This funding brings Argyle’s total funding to $78 million, and will significantly impact the company’s direction and vision.
Argyle Secures $55 Million Series B
Argyle is a cloud-based relationship intelligence platform, providing businesses with the insights they need to gain deeper customer engagement. It enables enterprises to stay organized, uncover beneficial relationships, and build trust across their networks. Founded in 2019 and headquartered in San Francisco, the company has raised $55 million in a Series B round of funding led by Spark Capital.
Argyle helps enterprises identify trustworthy contacts from within massive volumes of social data. It accumulates credible information about user behavior and private network involvement using billions of public profile data points. This provides companies a reliable source for making decisions about new contacts, gaining personalized insights into customers or partners for more seamless collaboration.
The company’s platform also incorporates popular tools such as Salesforce Integration, Relationship Intelligence App Suite and Relationship Insights Dashboard that help businesses better manage and engage with their networx on an ongoing basis. The funding will likely be used to expand its engineering team (developing smart algorithms) and sales team (focusing on client onboarding). Argyle allows enterprises to benefit from 360-degree visibility of customer data to make more informed decisions, create potential opportunities and ultimately drive value creation through better relationships.
Summary of Series B funding
Argyle, a mobile, web and API access control solution provider, recently announced that it had completed its Series B funding round. The round was led by Greylock Partners, with strong participation from Lightspeed Venture Partners. The company also stated that Kleiner Perkins and other unnamed strategic investors participated in the fundraising round.
Argyle last raised $17M in its Series A fundraising round in June 2019 led by Lightspeed Venture Partners and Greylock Partners. With the latest Series B funding of $55M, Argyle has raised $72M since June 2019.
Even with the current uncertain economic environment due to COVID-19, Argyle has received strong interest from venture capitalists and prominent investors because of its ability to solve difficult access security problems and its potential for future growth within the identity management market.
The new funding will be used to grow Argyle’s engineering capabilities and expand its sales teams across several geographies – particularly in Asia Pacific – where demand is poised to surge shortly.
Impact of Series B Funding
Argyle has recently secured a $55 million Series B round of funding, which will be used to expand its engineering and sales teams. This funding will give Argyle the necessary resources to scale its business and continue innovating.
This article will discuss the implications of the Series B funding for Argyle.
Expansion of Engineering Team
Argyle is thrilled to announce the completion of its Series B fundraising round, securing $55 million in funding from investors. The company plans to use this new capital to expand its engineering and sales teams across key regions globally.
The engineering team has become a primary focus for the company as they continue to create sophisticated data-driven products related to payment compliance. Currently, Argyle has offices in San Francisco, London, New York and Vancouver and is looking to fill positions in all four locations. Engineers at Argyle work on building core products that affect the financial lives of millions of people, shaping regulatory rules and enabling digital payments around the world.
This funding round fuels Argyle’s rapidly growing team of talented software engineers focused on making secure digital payment infrastructures a reality for everyone worldwide. Strong engineering teams will be invaluable in supporting this multifaceted mission and driving that vision forward technology-wise.
Expansion of Sales Team
In its momentous Series B round of funding, Argyle has secured $55 million for current development and expansion. With additional resources, the company plans to substantially upgrade its engineering and sales teams. Specifically, Argyle will use their new funding to expand the sales team to better service customers and meet rapidly growing market demands.
The investment will attract top-tier talent and strengthen relationships with strategic partners to build a foundation of long-term success. Additionally, Argyle plans to use their newfound resources towards product development advancements and customer experience improvements.
With the assistance of this new funding, Argyle anticipates that they will be able to achieve both immediate results as well as sustainable growth over time. As the company continues on its path towards innovation, it becomes increasingly important for them to invest in advancing their sales team and help secure new clients throughout different areas of industry.
New Features and Products
The impact of Argyle’s series B funding is significant, as it will provide resources to help the company support its growth. Specifically, the injection of funding allows for the expansion of Argyle’s engineering and sales teams. This will enable Argyle to better develop new features and products initiated in response to customer demand.
Argyle’s engineering team plans on using their new resources to rapidly iterate on existing products, allowing for faster launch times for features and more automation in backend processes. In addition, this renewed focus on engineering productivity will allow Argyle to expand their product lineup more easily.
The sales team has also been given additional budgeting to better understand customer needs and gather feedback regarding recent product launches. With this added information, Argyle can fine-tune existing products and introduce new services that better meet customer needs.
Overall, the series B funding has provided a boost of confidence necessary for Argyle’s growth strategy while offering the chance to ensure long-term prosperity through improved engineering automation, enhanced sales intelligence and updated product offerings.
Benefits of Series B Funding
Series B funding can be a helpful tool to grow businesses, as it helps provide access to larger investments which can be used to scale the business and expand operations. For example, Argyle recently secured $55 million in Series B funding, and the company is already looking to use it to its advantage by investing in its engineering and sales teams.
Let’s take a look at the other benefits of Series B funding.
Increase in Revenue
Argyle’s Series B funding will allow the company to make crucial investments in its engineering, sales and marketing teams. This addition of personnel will help spur the development of products and services that will increase revenue for the company.
With a larger engineering team, Argyle can create more powerful products and services that can enable a larger customer base than previously possible. In addition, a larger sales team will enable the company to reach more potential customers. Additionally, Argyle’s marketing team can develop strategies that help promote their products and services on a larger scale, increasing awareness about what Argyle offers.
Ultimately, these investments should increase revenue for the company so it can begin a period of sustained growth.
Increased Market Share
Argyle’s Series B funding enables the company to increase its market share, expand its reach within existing markets, and enter new markets. In addition, the additional capital will allow the company to invest in growing its engineering team to improve existing product offerings and add innovative new technologies.
Furthermore, Argyle will be scaling its sales team to promote its products in strategic markets with industry-leading marketing campaigns. With these measures in place, Argyle is well-positioned to take full advantage of an anticipated surge in demand for digital payment solutions across all sectors of the economy.
The added resources also provide a secure financial base that can be tapped into when long-term objectives are reached or when a larger expansion plan is needed.
Improved Customer Experience
Argyle’s new Series B funding will be used to further improve customer experience. By expanding its engineering and sales teams, Argyle will be able to respond faster and more accurately to customer needs. This includes developing new features and products, updating existing ones, and increasing the speed of delivery. Additionally, Argyle plans to invest in tools that improve customer service such as enhanced chats, remote support options, online document sharing, and ticket tracking systems, allowing customers to manage their support requests more efficiently.
At the same time, this investment will equip Argyle with the resources necessary to create better training materials for its existing staff to provide their customers with higher service quality standards. Moreover, it enables Argyle to develop improved processes and procedures that increase employee efficiency while reducing customer response times.
Ultimately, this funding commitment allows Argyle to create a stronger foundation of customer satisfaction throughout their product or service usage. In practical terms, this includes developing Intelligent Automation capabilities around advanced analytics – turning data into valuable insights – improving reliability so customers have trust in the platform delivering their services across multiple channels; additionally API’s providing system-to-system integration-friendly features so your organization can easily integrate with other systems – invariably leading to an improved overall customer experience for everyone involved.
Argyle’s new funding will help the company grow and further invest in various areas important to the development and growth of the business. The series B round was led by Sequoia Capital, with additional participation from other venture firms including Iconiq Capital, Craft Ventures, and Redpoint Ventures.
Capital injection will allow Argyle to invest in additional engineering talent to build its core platform and develop innovative products that meet customer needs. Additionally, the funds will reinforce Argyle’s sales team with extra resources to help reach more customers and further develop business relationships.
Thirdly, with this new round of funding, Argyle can continue improving its marketing activities to increase brand awareness and create more customer demand for its products.
Ultimately, Argyle is well-positioned for future growth by keeping focused on core product experience, expanding engineering resources to speed up development iterations, and ramping up sales activities supported by more marketing efforts, as it continues building a better credit card market for everyone.
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