By Amy Cook for Silicon Slopes
“During the Great Recession, many investors repeatedly made the same mistakes: “deploying capital at the peak, selling at a discount, then sitting on the sidelines during the recovery,” according to a report from McKinsey. During the economic uncertainty surrounding COVID-19, investors are taking a different approach. Rather than riding the waves of economic change, they are “parsing the crisis to distinguish temporary shifts from structural market changes and on maintaining (or even accelerating) their strategic momentum.”
Whether you’re seeking to invest or seeking funding, this new strategic focus on structural market changes could be a game-changer. Here’s how one company was poised to receive funding under this new structure.
GuideCX’s Series A Investors
GuideCX®, a Draper-headquartered project management platform for onboarding new customers, recently announced that they completed a $10 million Series A round of funding. Sorenson Ventures, a Silicon Valley and Utah-based early-stage venture capital firm, was instrumental in helping them complete the series, and EPIC Ventures, Orchard Ventures, LLC, and previous GuideCX investors Album VC and Prelude were also among the investors who saw the strategic potential in GuideCX.
What was it about GuideCX that appealed to these investors? Here’s what convinced Sorenson Ventures to take the plunge:”
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