Bliinx, a#nbsp;Montréal-based startup that aims to#nbsp;map out interactions with contacts for professional teams, has raised a $#nbsp;1 million CAD pre-seed round of#nbsp;financing. This brings the startups' total raised to#nbsp;date to $#nbsp;1.2 million.
The round was led by Altair Capital, a#nbsp;San Francisco-based investment firm. Other participants include 500 Startups, Panache Ventures, and undisclosed strategic angel investors. Bliinx will use the funding to#nbsp;increase product development speed and hire new team members. The raise is#nbsp;the result of#nbsp;a#nbsp;product pivot from an#nbsp;external application to#nbsp;a#nbsp;Microsoft 365 embedded solution.
"Having the right information is#nbsp;crucial to#nbsp;building strong professional relationships, however, that information is#nbsp;siloed into many tools like your inbox, calendar, LinkedIn, [customer relationship management], project management, and team messaging apps," said Bliinx founder and CEO Frédéric Melanson.
"Most professionals waste hours and countless opportunities by#nbsp;manually managing that information," he#nbsp;added. "We put it#nbsp;at#nbsp;your fingertips and give you insights that we’ll make you and your team more productive."
Bliinx was founded in#nbsp;2019 to#nbsp;alleviate the pain of#nbsp;using heavy and complicated customer relationship management tools for business relationship building. The solution integrates directly into a#nbsp;user’s inbox, calendar, and Microsoft Teams applications, and aggregates company touchpoints with contacts into a#nbsp;relationship timeline that it#nbsp;analyzes to#nbsp;recommend actions and follow-ups.
When Bliinx participated in#nbsp;500 Startups' Seed Accelerator program earlier this year, it#nbsp;was developing an#nbsp;external application. Two weeks in, Melanson said the team had to#nbsp;start from scratch to#nbsp;build a#nbsp;solution that could be#nbsp;integrated and better aligned with the needs of#nbsp;the market.
"We got an#nbsp;immediate traction with customers," Melanson told BetaKit. "Our daily active usage went from almost zero to#nbsp;80 percent."
The solution is#nbsp;currently only available in#nbsp;private beta, which Bliinx is#nbsp;conducting with a#nbsp;handful of#nbsp;consulting firms. The company plans to#nbsp;launch the tool to#nbsp;the public in#nbsp;September and is#nbsp;in#nbsp;discussions with Microsoft to#nbsp;enter the Microsoft for Startups program.
"As business professionals, we#nbsp;are always looking for tools that can enhance our own productivity and efficiency," said Igor Ryabenkiy, managing partner at#nbsp;Altair Capital. "Bliinx is#nbsp;a#nbsp;unique product that is#nbsp;ideal for creating valuable and productive business relationships in#nbsp;the simplest and easiest way#nbsp;— directly in#nbsp;the email client."
Melanson told BetaKit the company is#nbsp;seeing an#nbsp;increase in#nbsp;demand during the COVID-19 pandemic, because although teams are remote, companies still are required to#nbsp;work on#nbsp;business development and interact with clients.
Notably, the pre-seed round was opened and closed in#nbsp;the middle of#nbsp;the pandemic. Melanson said remote working was part of#nbsp;the original vision of#nbsp;Bliinx, which is#nbsp;one of#nbsp;the reasons the company is#nbsp;able to "thrive in#nbsp;a#nbsp;complicated situation."
"We think that work will be#nbsp;inherently different after COVID-19," Melanson said. "Even when things settle down… people will have a#nbsp;new way to#nbsp;work, whether it’s with tools like Zoom or#nbsp;Microsoft Teams, and we’re really happy to#nbsp;be [a part of] that transition."
Despite the gravity of#nbsp;the current global crisis, Melanson acknowledged the pandemic has had a#nbsp;net positive impact on#nbsp;the business because the shift to#nbsp;remote working will help Bliinx demonstrate the product’s value.
"Our vision is#nbsp;to#nbsp;make business relationship management collaborative, productive and easily accessible to#nbsp;all," he#nbsp;said.