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February 15, 2013

Method CRM Secures $3M in Series A Funding from Klass Capital

By Rory Lidstone, TMCnet Contributing Writer

Method CRM, a Toronto-based startup and provider of affordable apps for businesses, recently secured $3 million in Series A funding from Klass Capital, a North American venture capital firm, bringing Method's total funding to $6 million.

This investment is to be allocated to what Method calls "extreme product development," which in this case is a complete redesign of its platform for full integration with Intaact, Wave, Xero, FreshBooks and other accounting and SMB applications.

The company has received quite a bit of attention already, with thousands of users in the U.S., and expects to more than double in size by the summer to better serve its customer base in North America, eventually expanding to South America, Europe and Asia.

Method currently has 25 employees.

Method's full drag and drop customizable SaaS (News - Alert) platform is what has managed to garner it so much attention, as it gives SMBs the high level of software personalization typically only available to larger corporations.

The company also built a complete sync with QuickBooks and Google (News - Alert) Apps at the ground floor, allowing users to enter and view financial and CRM data all in one place.

“We have a different story from the stereotypical tech startup,” said Paul Jackson, CEO and founder of Method, in a statement. “We’re a few years in now, but up until this raise, we had no outside investors. I was fortunate enough to have built and sold a previous software company, so I kicked in the cash to get us started. Having done this before, I have a good idea of what it takes to be successful and we focused on two things: identifying our customers’ pain points and creating the best possible solutions for their needs.”

Back in April, Klass Capital partnered with Healthcare of Ontario Pension Plan (HOOPP)to significantly increase the size of Klass Capital Fund I, LP, a Canadian venture capital fund focused on enterprise software, IT and e-commerce companies.

Edited by Braden Becker
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