Webtalk raises over $1.6MM of its $3MM Series Seed financing round
Webtalk.co (Webtalk, Inc.), a next-generation universal contact and relationship management platform, has announced raising more than 50% of its $3MM Series Seed round of financing at a $20MM pre-money valuation.
The round is led by former technology executive and entrepreneur, Paul Woodcock. eHealthcare Systems, founded by Woodcock, was acquired by Tampa Bay’s HealthAxis Group in 2013. Other notable and returning angel investors include Steve Westphal, owner of the restaurant conglomerate GoToSteves, and Jeff Catherell, founder of Copper Shaker and The Estate, two of Tampa Bay’s most popular nightlife destinations. Catherell also serves as Webtalk’s chief business officer.
The company says it will use the funds to begin monetizing it’s 2.5M+ total users and over 400,000 registered users by offering premium feature packages for a monthly fee. Webtalk also plans to use the funds to release its enterprise version of the software, along with launching mobile apps, and a proprietary affiliate program to drive new users and sales. The company projects reaching positive cash flow in 2019 with the aid of the new investment capital. Once the company closes its Series Seed round, it will bring their total cash investments to $5.4MM, excluding approximately $3MM in service contracts paid in equity.
“Webtalk has a long-standing history in Tampa Bay as it spent several years in research and development building its core technologies. We are finally able to debut them [software technologies] to our local community, and to the world. We couldn’t be more proud of our rapid user adoption, and the amazing support we have had all these years to get here. In the next year, we plan to see much more growth with the goal of adding dozens of new high paying jobs to Tampa Bay” said, RJ Garbowicz, Webtalk’s Founder and CEO.
ABOUT WEBTALK Founded in 2011, Webtalk invested several years in research and development, building a revolutionary search engine based on trust to change how the world works. The company's mission is to organize and validate the world’s information, surrounding people and businesses, to create a trustworthy virtual economy. Webtalk's primary goal is to create a safer and more successful world by providing "trust (due diligence)-on-demand"
Currently, people use Webtalk to manage all relationships, personal and business, seamlessly, but soon they will use Webtalk to conduct due diligence on individuals and entities prior to completing a transaction. Webtalk also has a marketplace service underway to conduct transactions. The combination of these services will enable the world to research, connect, validate, transact and collaborate with others, providing true end-to-end management for all types of relationships, personal and business. A trusted global economy.
Webtalk was founded by RJ Garbowicz, CEO, Andrew Peret, CTO, Basit Hussain, PhD, Chief Architect & Scientist, Jeff Catherell, CBO and James Pews, CPA, MBA, VP of Finance & Administration.
WEBTALK’S TECHNOLOGY Webtalk is a global, big-data software technology company focused on relationship-based data mining, storage, and search technologies to power the next generation of communication and commerce software. Using a patent-pending data labeling process (AKA SocialCRM), Webtalk has been able to reinvent online relationship management through a user experience unparalleled in the industry. Creating an entirely new class of product to manage contacts, communication and content seamlessly, both personally and professionally.
PRESS RELEASE DISCLAIMER Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Webtalk, Inc. does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Webtalk, Inc. and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
