Manhattan Beach-based Caplinked, a cloud-based work optimization platform for secure enterprise coordination between multiple organizations, announced a $3.5 million round this morning.
The funding was led by Subtraction Capital and included investments from PayPal co-founder Peter Thiel and Indicator Ventures.
Eric M. Jackson, the former head of U.S. marketing for PayPal, and Christopher Grey, a former private equity and banking executive, created the site in 2010 for cloud-based collaboration on business deals and other multi-company projects such as asset sales, mergers, and acquisitions. The platform is currently used by hundreds of enterprises including Ernst & Young and Sunbelt Business Brokers.
"Given the nature of the venture capital industry, we understand the need for a secure team management and stakeholders communication platform," Subtraction Capital General Partner Jason Portnoy said in a statement. "CapLinked provides a seamless workflow-optimization solution that appeals to a number of industries and is poised to transform the way we all do business in the cloud."
The company had previously raised $4 million from investors including Founders Fund's FF Angel and 500 Startups. CapLinked will reportedly use the new capital to expand their sales and marketing efforts to accelerate growth.