Elk Grove business tech startup EyeRate picks up $1.7 million in seed funding
An Elk Grove business technology startup recently secured $1.7 million in seed funding from a Southern California investor, Elk Grove economic development officials announced this week.
Two-year-old EyeRate, which develops online reputation management software, plans to hire more staff and prepare for its first significant round of financing with the investment, EyeRate officials said in the funding announcement. With its software, EyeRate monitors and helps companies solicit feedback from their customers and clients including customers’ comments and product reviews.
“We will expand the team to 50 or so in the next year and execute on an aggressive product and revenue road map as we prepare for Series A funding,” said EyeRate founder and Chief Executive Officer Ray Weisberg.
Santa Monica-based early-stage investor Mucker Capital had its eye on the Elk Grove firm, leading the round of seed funding for EyeRate.
The nascent tech firm started in a garage in 2019 with three employees when it became one of the first companies to participate in Elk Grove’s Startup Incentive Program.
The city program offers grants to Elk Grove startups at their launch. EyeRate received $75,000 in grant money, lifting it out of the garage and helping it move to its present 10,000 square-foot office.
“When the city council established our Startup Incentive Program, we envisioned investing in just these sorts of emerging companies,” Darrell Doan, Elk Grove economic development director, said in a statement. “We look forward to seeing their next chapter of growth.”
This story was originally published September 1, 2021 at 11:32 AM.
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