New York, New York, United States, 6th Dec 2023 – Glencoco, the B2B sales marketplace where companies pay business development professionals for booked meetings, is announcing plans to deploy its recently raised $3 million in seed funding to aggressively grow both sides of its marketplace. The company is targeting $3 million in annual recurring revenue (ARR) within the next six months.
The funding round was co-led by Felicis Ventures and Crossbeam Ventures, two prominent early-stage investment firms backing innovative companies. Other notable participants fueling Glencoco’s growth included Soma Capital, Gold House Ventures, L2 Ventures, and angel investors/advisors from high-profile startups and VC firms like BOND Capital, Stripe, and Roblox.
Glencoco operates a specialized B2B sales marketplace to address a common challenge: enterprises need more pipeline and meetings to fuel growth, while abundant qualified business development talent often goes untapped. The startup’s platform allows companies to outline sales campaigns, set meeting pricing models and provide guidelines to contractors who can view opportunities and earn compensation for booked meetings. Glencoco vets all contractors, provides supporting sales tools and training, and takes a 30% transaction fee.
Companies transform fixed-cost business development headcount and agency fees with uncertain output into variable payouts directly aligned with tangible meeting results. Meanwhile, skilled contractors access stable income opportunities without extensive ramp-up costs.
Armed with new funding, Glencoco now aims to aggressively pursue $3 million in ARR within 6 months. The startup plans to pour capital into sales and marketing for rapid business client acquisition, especially targeting technology, financial services, healthcare and manufacturing verticals. At the same time, Glencoco will invest heavily in expanding its qualified contractor pool across different industries and geographies to meet increasing enterprise demand.
“Rather than paying expensive and inflexible agency fees, companies can leverage our marketplace to turn business development into a variable cost directly linked to the meetings that actually drive revenue,” said Ingwon Chae, CEO of Glencoco. “This funding enables us to scale a win-win model that makes flexible, performance-based sales a reality.”
About Glencoco
Glencoco operates a B2B sales marketplace that connects enterprise companies seeking more meetings and leads with vetted business development professionals who can deliver results. The company’s platform provides sales infrastructure, analytics, training and compensation models to empower contractors while offering companies flexible and cost-effective sales solutions. For more information, visit https://www.glencoco.com.
Media Contact
Organization: Glencoco
Contact Person: Ingwon Chae
Website: http://glencoco.com/
Email: Send Email
City: New York
State: New York
Country: United States
Release Id: 0612238165