The consumer brand software provider closed its Novel TMT-backed series A round at $18m with a $10m extension that boosted its total funding to $23m.
US-based consumer product software developer Backbone PLM closed a series A round featuring Novel TMT, the venture capital arm of telecommunications company Novel, at $18m yesterday.
VC firm Foundry Group led a $10m extension led by venture capital firm that added to an $8m first tranche led by Signal Peak Ventures in August 2018 that included Novel TMT, Grotech Ventures, Spider Capital, Beanstalk Ventures, Brainchild Holdings and Peterson Ventures.
Backbone has developed cloud-based software that is used by consumer goods…
