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Submittable announces that it has raised $ 10 million in Series B funds.
When I first wrote about the company in 2012, it was aimed primarily at helping literary magazines manage their submissions – useful, but perhaps not the kind of things for which capital investors -risk issue big checks.
Since then, Submittable has collected a $ 5 million Series A and has been developed by helping companies in many industries manage their submissions and applications. Co-founder and CEO Michael FitzGerald said the company has designed products for four core businesses (corporate, university, philanthropy and publishing) and has recruited major clients such as AT & T, HBO, Conde Nast, Harvard and MIT.
And while publishing may not be the main focus any more, FitzGerald – a published novelist himself – noted that "in the publishing world, we are pretty much like you do it." I've certainly seen more submissions pages to submit, (although FitzGerald acknowledged that the service was not yet widespread enough in science fiction magazines).
He also stated that the product was becoming more sophisticated, allowing for example a publisher to review and rank submissions based on very specific qualities such as sentence structure and voice.
In addition to expanding into other verticals and mobile, one of FitzGerald's primary goals is to create what it calls "ZipRecruiter for Opportunities," a market that uses the Submittable software. data that connects individuals and organizations that seem to correspond, whether writers and magazines, scholarships and students or any other couple, for "any opportunity that do not be a job. "
Submittable is based in Missoula, Montana, and the tour was led by Next Coast Ventures, a company that invests in startups outside the major coastal hubs. (Previous investors, True Ventures and Next Frontier, also participated.) Next Coast co-founder and CEO Michael Smerklo joins the startup's board of directors.
"Submittable is a perfect example of what is possible outside of Silicon Valley," Smerklo said in a statement. "The platform is modernizing the often painful task of managing the submission process and leveraging that data to create real opportunities."
FitzGerald (who has talked elsewhere about his experience as a start-up CEO while dealing with a stage 4 cancer diagnosis) said the plan was to extend the 88 Submittable team. to 240 people by the end of 2020. He acknowledged that the location had created hiring challenges, particularly for experienced executives, but he was helped by the fact that ClbadPbad and OnxMaps also opened offices in Missoula.
In addition, he stated that one of the most effective tactics was to search LinkedIn for executives who had attended high school in Missoula between 1985 and 2000: "Everyone is looking for a way to get home."
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