Crossbeam Raises $76 Million in Series C Funding – TechCrunch

Crossbeam is a collaborative data platform that helps companies build stronger and more valuable business partnerships. It enables businesses to identify overlapping customers and prospects with their partners while keeping sensitive information protected.

The platform supports business-to-business (B2B) companies by helping partnership, sales, and marketing teams share selected data, discover opportunities, improve collaboration, and measure the value of their partner relationships.

In October 2021, Crossbeam announced a $76 million Series C funding round led by Andreessen Horowitz. The investment highlighted growing interest in partnership-focused software and the role of network effects in scaling enterprise technology companies.

What Is Crossbeam?

Crossbeam provides a secure way for companies to compare selected customer and prospect information with their business partners. Instead of freely exchanging entire databases, participating companies can identify overlapping accounts and use those insights to coordinate sales and partnership activities.

This approach can help businesses discover shared opportunities, identify potential leads, and understand how their partners contribute to growth.

For example, if two software companies serve similar types of customers, Crossbeam can help them identify accounts that appear in both companies’ data. Their teams can then use those insights to coordinate appropriate sales or partnership activities.

Crossbeam’s platform is particularly relevant to businesses that rely on strategic partnerships, technology integrations, referral programmes, and ecosystem-based sales strategies.

Who Founded Crossbeam?

Crossbeam was founded by Bob Moore, who serves as the company’s CEO. His vision was to help businesses understand the value of their sales partnerships by making it easier to identify overlapping accounts and measure collaboration between companies.

Initially, Crossbeam focused heavily on partnership teams. As the platform grew, its potential applications expanded into sales, marketing, and other go-to-market functions.

By helping companies understand which partners are connected to their customers and prospects, the platform aims to make partnership strategies more measurable and effective.

Crossbeam Lands $76 Million in Series C Funding

In October 2021, Crossbeam announced a $76 million Series C funding round led by Andreessen Horowitz.

The round also included participation from previous investors Redpoint Ventures, FirstMark Capital, First Round Capital, and Uncork Capital, along with Salesforce Ventures, HubSpot Ventures, and Okta Ventures.

According to the funding report published by TechCrunch at the time, the investment brought Crossbeam’s total funding to nearly $117 million.

The announcement reflected growing investor interest in software that helps companies build relationships, collaborate across business networks, and generate new opportunities through partnerships.

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How Crossbeam’s Network Effect Supports Growth

Crossbeam’s business model benefits from a network effect. As more companies join the platform, they have more opportunities to connect with existing partners, identify overlapping accounts, and establish new business relationships.

When one company invites its partners to participate, those partners may introduce additional businesses to the network. This can create a cycle in which the platform becomes more useful as participation increases.

During the 2021 funding announcement, Crossbeam reported that its network had grown to approximately 5,000 companies. CEO Bob Moore also described how the company was attracting larger enterprise accounts with extensive partnership networks.

This growth gave investors a way to assess the platform’s adoption by examining how many companies were joining and how actively they were collaborating.

A growing network can make the platform more valuable because businesses gain access to a broader set of potential partner relationships. However, effective collaboration still depends on the relevance of those relationships and how well teams use the available data.

Crossbeam Expands Beyond Partnership Teams

Crossbeam initially focused on teams responsible for managing business partnerships. As the platform developed, its use expanded into sales and marketing departments.

These teams can use partnership insights to understand shared customer relationships, identify opportunities for coordinated outreach, and evaluate the contribution of partners to their business objectives.

Integrations with tools such as Salesforce, HubSpot, and Slack can also help bring relevant partnership information into existing workflows. Rather than requiring employees to work entirely within a separate system, integrations can make useful insights available where teams already manage customer relationships and daily tasks.

Technology partnerships are important across the wider industry as well. Read our article about Apple and Qualcomm for another example of how relationships between technology companies can influence products and business development.

Crossbeam’s Freemium Business Model

Crossbeam’s business model has included a freemium approach, allowing companies to join the platform and establish partner connections before paying for certain advanced uses.

In the model described during the 2021 Series C announcement, companies could connect their data and participate in the network for free. Paid usage became relevant when businesses wanted to move Crossbeam insights into other platforms, such as Salesforce, to support wider operational workflows.

This structure can make it easier for companies to explore the platform and invite partners without requiring every participant to make an immediate financial commitment.

It also supports the network effect: when businesses can join and connect with partners more easily, the network has more opportunities to expand.

Enterprise Customers and Continued Expansion

As Crossbeam attracted larger organisations, its platform became relevant to increasingly complex partnership ecosystems.

Enterprise companies often work with many technology providers, service partners, resellers, and other organisations. Managing these relationships can involve large amounts of customer data and coordination across multiple departments.

Crossbeam helps organisations identify connections within these networks and understand how partnerships contribute to sales and marketing outcomes.

The company’s expansion into larger enterprise accounts also created opportunities to serve more teams within each customer organisation. Partnership managers, sales representatives, and marketing professionals can use ecosystem insights for different purposes while working toward shared business goals.

Diversity, Inclusion, and Company Culture

During the company’s earlier funding stages, Crossbeam’s leadership also discussed diversity and inclusion as part of its recruitment and workplace culture.

In the 2021 TechCrunch report, CEO Bob Moore described the company’s efforts to make diversity, equity, and inclusion part of its internal processes. These efforts included an internal committee focused on workplace culture and reviewing organisational practices.

The company’s growth also created opportunities to attract employees interested in enterprise technology, business partnerships, and the development of a growing software platform.

For technology companies, building a team involves more than hiring quickly. Maintaining a supportive workplace and developing effective internal processes can be important as an organisation expands.

Why Crossbeam’s Funding Matters for Enterprise Technology

Crossbeam’s Series C funding illustrates the importance investors place on software that helps businesses coordinate activities across organisational boundaries.

Enterprise technology has traditionally focused on systems such as customer relationship management, marketing automation, analytics, and communication tools. Partnership platforms add another layer by helping companies use relationships with other businesses to find opportunities and improve their go-to-market strategies.

This broader approach to business software can be especially valuable when companies share customers, integrate their products, or work together to deliver services.

Other enterprise technology investments have addressed challenges in cloud infrastructure and application networking. For related coverage, read our article on Tetrate and Sapphire Ventures, which explores venture funding for enterprise software and cloud-native technology.

Related Technology Coverage

Technology businesses operate across a wide range of areas, from enterprise software and cloud services to consumer electronics and connected products.

Readers interested in other technology topics can also explore our guide to using the Xupikobzo987 model TV.

These subjects reflect the broad technology landscape in which businesses develop products, form partnerships, and find new ways to serve customers.

Frequently Asked Questions

1. Where Is Crossbeam’s Headquarters?

Crossbeam is headquartered in Philadelphia, Pennsylvania, United States.

2. Who Founded Crossbeam?

Bob Moore founded Crossbeam and serves as its CEO. The company focuses on helping businesses identify partner relationships, compare selected customer data, and improve collaboration across business ecosystems.

3. Who Invested in Crossbeam’s $76 Million Series C Round?

Andreessen Horowitz led the Series C round announced in October 2021. Other participating investors included Redpoint Ventures, FirstMark Capital, First Round Capital, Uncork Capital, Salesforce Ventures, HubSpot Ventures, and Okta Ventures.

4. How Much Funding Had Crossbeam Raised by Its Series C Round?

Following the $76 million Series C round in October 2021, Crossbeam had raised nearly $117 million in total funding, according to the funding report published at the time.

5. What Does Crossbeam Do?

Crossbeam helps companies securely compare selected customer and prospect data with business partners. Its platform identifies overlapping accounts and helps partnership, sales, and marketing teams find opportunities for collaboration.

6. How Does Crossbeam Make Money?

Crossbeam has used a freemium model in which companies can join the network and connect with partners before paying for certain advanced capabilities and integrations. Specific plans and features may change over time.

7. Why Is Crossbeam’s Network Effect Important?

As more companies join Crossbeam, participating businesses can potentially connect with more partners and identify additional overlapping customers and prospects. This can increase the platform’s value to its users and support network growth.

8. Which Businesses Can Benefit from Crossbeam?

B2B software companies, technology providers, sales teams, marketing departments, and organisations with established partner ecosystems may benefit from Crossbeam. Its usefulness depends on the quality of partner relationships and how effectively teams apply the insights.

Conclusion

Crossbeam’s $76 million Series C funding round in October 2021 marked an important milestone in the company’s development. Led by Andreessen Horowitz and supported by several existing and strategic investors, the round brought the company’s reported total funding to nearly $117 million.

The platform addresses a practical business need: helping organisations discover shared customer opportunities and make better use of their partnerships without freely exchanging all their underlying data.

By expanding beyond partnership teams into sales, marketing, and enterprise workflows, Crossbeam demonstrated how collaborative data platforms can support business growth. Its network effect also illustrates how the participation of more companies can increase the potential value of a partnership ecosystem.

Ultimately, Crossbeam’s approach centres on turning business relationships into measurable opportunities. As companies continue to seek better ways to collaborate, platforms that help them understand and activate their partner networks remain an important part of the enterprise technology landscape.