A new technology startup making software for the Salesforce ecosystem led by a group of local entrepreneurs that includes Godard Abel has raised $10 million.
Logik.io, founded last year, has developed software that can be used on top of the Salesforce Configure, Price and Quote, or CPQ, platform, which companies use to provide accurate pricing information. With Logik.io’s tech, the startup says it can help improve the configuration experience in Salesforce CPQ and add configuration to e-commerce applications.
The startup is led by founders Abel, executive chairman, and CEO Christopher Shutts. The two have long worked together, building tech companies. They are the founders of BigMachines, a cloud software for price quotes that was acquired by Oracle in 2013.
Afterwards, Shutts remained at Oracle until 2020 and Godard went on to launch SteelBrick, another Salesforce-related software, which sold to Salesforce in 2016 for $360 million. Godard is also the CEO and executive chairman of software reviews site G2 and the executive chairman of Threekit, which just raised $35 million in funding.
The duo began thinking of their next venture at the end of 2020.
“Godard and I actually got a call from Salesforce and they were wanting our opinions on the configuration market,” Shutts said.
After some research, Shutts and Abel identified a need in the Salesforce universe and launched Logik.io as a stand-alone business. Shutts said Logik.io has a “handful” of customers that have signed contracts to use the startup’s software. He wouldn’t disclose specific companies but said they exist in manufacturing, architecture and high-tech industries.
Logik.io’s seed round was led by Indianapolis-based High Alpha, with participation from Salesforce Ventures. Other investors were not disclosed. As part of the deal, Scott Dorsey, High Alpha’s founder, who sold his company ExactTarget to Salesforce in 2013 for $2.5 billion, joined Logik.io’s board.
“I’m excited to get Scott’s ideas into the way we’re going to manage the company because I think he’s going to bring a very knowledgeable, fresh perspective,” Shutts said.
High Alpha’s other portfolio companies include Chicago companies like The Mom Project, Rheaply, LogicGate, G2 and project44.
Logik.io employs about 20 people and will bring on about 10 more in the next year across its engineering, sales and customer success teams.
“We like growing and headquartering businesses here physically in Chicago because with Northwestern and the Milwaukee School of Engineering, there’s a lot of really awesome talent here,” Shutts said.