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
CHICAGO, IL - November 18, 2021-- Logik.io, a next generation software company, focused on creating high performance headless configuration technology, announced today that it has raised over $10M in seed funding led by High Alpha with participation from Salesforce Ventures and other private investors.
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 best-in-class configurator on top of Salesforce CPQ.
The Logik.io configuration solution extends Salesforce CPQ by providing complex logic, math calculations, dynamic bills of material, split second performance, and tremendous 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.
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 game-changing 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 an extraordinary 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.”
With this market expertise, Logik.io aims to create the highest performing “lightning fast” headless configuration technology on the market that delivers solutions for:
- Sales Teams on Salesforce CPQ: Logik.io augments Salesforce’s already powerful platform with a configuration tool that offers teams premium speed, advanced configuration logic, and a simple, intuitive administration.
- B2B/C OmniChannel Selling: Logik.io provides a headless robust rules engine that seamlessly integrates with all major e-commerce platforms, and enables companies to sell high-complexity products online via existing self-service digital commerce platforms.
“Chris, Godard, and team have built multiple products that have transformed this market. We couldn’t be more excited to partner with them on what we see as yet another game-changing product, and one of their most promising ventures yet,” said Scott Dorsey, Managing Partner at High Alpha.
“We’re extremely excited to see the impact Logik is already having for Salesforce customers and the way it supercharges Salesforce Revenue Cloud,” said Meredith Schmidt, EVP of Revenue Cloud at Salesforce. “We’re looking forward to a long and successful partnership with this team to help revolutionize the configuration space and delight our customers.”
This investment will be used to fuel Logik.io’s product development strategy as well as support the growth of Logik’s go-to-market engine into 2022.
Logik.io provides high performance headless configuration technology that alleviates the operational limitations of traditional configurators, streamlines complex selling processes, and enables omni-channel e-commerce sales for enterprise businesses. Purpose-built to complement and enhance Salesforce CPQ and E-commerce platforms, Logik.io delivers a headless solution with premium speed and performance, a proprietary solving engine, and a simple and intuitive admin experience.
Logik.io is founded by a proven team with over 100 collective years of experience in the CPQ space, and is backed by High Alpha and Salesforce Ventures. Learn more at logik.io