Startup Targets Expanding Market and Raises Funding from Angel Investors

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The optimal path to success when starting a business is targeting an expanding market. One of the reasons is that rising interest in a type of product inspires buyers to examine new options. Plus, angel investors are eager to provide backing to startups offering innovative options to eager consumers.

Illustrating this phenomenon is Intercom, a new business in the hot field of customer relationship management (CRM) products. The company recent raised $1,000,000 for expansion from multiple angel investors. Intercom’s CRM tool is designed specifically for use by internet businesses.

Features of the Intercom produce include analytics, group filtering, interaction tracking, and a messaging feature. Users set goals into the program, such as conversion of a lead into a paying customer. The company’s goal is helping web-based businesses deliver customer service that personalizes relationships beyond a computer interface.

As a new business, the Intercom product is currently supplied in a free beta version. Approximately 1,500 individuals from 500 companies are using the Intercom CRM solution to manage over 1,000,000 customer relationships. A full version is expected for sale beginning in the summer of 2012. Current users include Guestlist and GitHub.

Intercom is based in Ireland, but investors and customers are centered in the San Francisco area. The company notes that employees and contractors with needed technical skills are readily available in many areas, including the current Intercom location on the Emerald Isle. The key element driving progress at the new business is the growing demand for CRM products. This creates opportunities for startups with creative alternatives to attract attention.