Logik.io Announces Seed Funding Led by High Alpha to Build the Next Generation Enterprise Configuration Engine
Founded by pioneers of modern CPQ technology, Logik.io raises over $10M to help B2B enterprises streamline complex sales processes and enable e-commerce selling
Logik.io, a next generation software company, focused on creating high performance headless configuration technology, announced today that it has raised $10M in seed funding led by High Alpha with participation from Salesforce Ventures and other private investors.
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As businesses build on the success they see with Salesforce CPQ in streamlining their Quote to Cash process, they are looking for ways to open up eCommerce selling channels and share accurate information with their ERP and supply chain applications. Logik.io makes this possible by overlaying a configurator on top of Salesforce CPQ, available on the Salesforce AppExchange.
The Logik.io configuration solution extends Salesforce CPQ by providing complex logic, math calculations, dynamic bills of material, split second performance, and scale all while utilizing the Salesforce data model. Logik.io is also designed to work with existing eCommerce solutions to provide guided selling and configuration to B2B and B2C self-service selling.
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Logik.io’s funding marks a significant moment for the CPQ category, as the company’s founding team carries over 100 years of combined experience in the industry, led by CEO Christopher Shutts and Executive Chairman Godard Abel. Previously the two co-founded BigMachines, a company that defined the CPQ space, and was acquired by Oracle in 2013. Godard also went on to build another CPQ pioneer, Steelbrick, which he successfully sold to Salesforce in 2016 for $360M. In addition to his chairman role at Logik.io, Godard is currently also the CEO and Executive Chairman of G2 and Executive Chairman of ThreeKit.
“We are building a truly innovative technology for companies looking to improve their CPQ experience and enable B2B e-commerce,” said Shutts. “We know both buyers and sellers demand speed and convenience throughout the sales process, and Logik.io delivers on that promise with lightning fast selection and configuration tools.”
“From our experience building and operating BigMachines and Steelbrick, this team has a great understanding of how configuration technology was built, where it’s strong, and where the next evolution is going,” said Abel. “We’re already seeing significant demand in the market, and this investment will fuel the team to deliver on what the market needs quickly.”
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