Philadelphia-based software-as-a-service startup Crossbeam has merged with its Paris-based competitor, Reveal, writes Ryan Mulligan for the Philadelphia Business Journal.
The combined company will maintain its Philadelphia headquarters. It will be helmed by Crossbeam co-founder and CEO Bob Moore and operate under the Crossbeam name. Co-founder and CEO Simon Bouchez will take on the role of chief operating officer, which executives from both companies will take leadership roles in the new firm.
The financial terms of the all-stock deal were not disclosed.
Following the merger, Crossbeam, which was founded in 2018, now has 143 employees and almost 30,000 customers.
The two companies decided to join forces due to the similarities in their operations. Crossbeam and Reveal are both “LinkedIn for data,” explained Moore, where the platform is predicated on a network of potential leads.
Crossbeam uses data to create a network for sales teams to identify potential partners and grow their existing relationships.
However, many customer companies of Crossbeam had potential partners on Reveal, with the same being true for the other company. As a result, the number one request from customers for both companies was to find a way to combine the two networks.
“The only solution was for us to talk about merging,” Moore said. “That’s how the conversation started.”
Read more about Crossbeam’s new merger in the Philadelphia Business Journal.
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