While email providers and social networks try to make managing contacts as easy as possible, it’s still a major hassle for busy enterprise workers who have to keep up with hundreds of different people at any given time. In response, users turning to third party providers like FullContact Inc., which closed $25 million in funding today to seize upon the demand.
The investment was led by Foundry Group and saw the participation of four other backers including the venture capital arm of Robert W. Baird & Co, a financial services heavyweight with $151 billion under management. FullContact will invest the cash in developing new features for its address book service, which provides the ability to aggregate contacts from multiple platforms in a unified list. The application removes duplicate entries and combines the information that users scatter across their social media accounts, email addresses and other business accounts into a single profile. FullContact can also automatically update a profile whenever one of those accounts changes to ensure that workers are up-to-date on their contacts’ activities.
The functionality is designed to remove the need for manual updating in situations where, say, a promising lead suddenly switches companies or a colleague changes their email address. Added up across the upwards of hundreds contacts in the average worker’s address book, this can amount to a lot of saved time.
FullContact makes its capabilities available in three forms: A pair of mobile apps for iOS and Android, a Gmail extension and a API that can be used by developers to build an address book into their applications. The startup estimates that over 40 billion individual contact records are managed across its three product lines, a number that is poised to increase significantly following today’s investment.
Besides developing new features, FullContact will also use the new funds to scale marketing efforts and acquire startups with complementary technology. The company expects to more than double its headcount in the coming year as part of the effort.