CoordinateHQ Raises $5.5 Million Seed Round for Collaboration Platform

CoordinateHQ, a project management system for client service organizations, announced the closing of a $5.5m seed round. The funding was led by Initialized Capital, with investments from Webb Investment Network and a number of prominent angel investors.

Too often, professional services companies rely on a patchwork of static tools to collaborate. CoordinateHQ removes the complexity and inefficiencies inherent in established software solutions, making it easy for hybrid teams and clients to work together. The platform eliminates the friction of communicating with a customer with a mix of email, spreadsheets, and messaging platforms while trying to ensure teams execute and deliver.

"For any client-facing software, the key differentiator is design; people expect intuitive interfaces with little-to-no onboarding efforts and the ability to customize functionality based on individual client needs," says Jen Wolf, Managing Partner at Initialized Capital. "The CoordinateHQ team has an incredible understanding of their end user and has built a product that has already proven itself as transformative."

The CoordinateHQ founding team consists of Rick Morrison (CEO) and Jud Gardner (CTO), who previously founded and ran Comprehend Systems, a provider of clinical analytics software. They spent a decade managing complex customer projects and understand the frustrations and inefficiencies of collaborating with clients using legacy tools.

"Our average customer has tried multiple software products without seeing clear returns," stated Rick Morrison, CEO of CoordinateHQ. "By allowing the vendor to scale internally while still meeting the client on their terms, our customers routinely report tripling revenue, doubling project velocity, reducing churn by up to two-thirds, and incredible testimonials. The results have exceeded even our own expectations."

Customers agree. "100% of our clients have responded positively to our onboarding process for CoordinateHQ, with nothing but positive feedback," noted Seth Forbus, Senior Project Manager at Avsant. "We've asked CIOs, network admins, IT managers, and stakeholders. Everyone agrees ? CoordinateHQ is the most user-friendly portal they've used."

CoordinateHQ has an established and growing customer base that relies on the software to collaborate with clients, and the funding will help accelerate customer acquisition. View a demo of the platform here.

About CoordinateHQ

Founded in 2020, CoordinateHQ provides software for client service organizations. The collaboration platform is an intuitive portal that streamlines communications and makes it easier to scale your business. Learn more at www.coordinatehq.com and connect on LinkedIn.

About Initialized Capital

Initialized is a venture capital firm that invests in seed-stage software companies across many sectors, including enterprise, consumer, crypto, climate, healthcare, real estate, fintech, and frontier tech. We look for visionary founders early and help them build companies with strong foundations. Our well built support team made of founders and experts operates like a startup - with a founder's mindset and expertise uniquely suited for the challenges of seed stage companies. We help companies reach product-market fit, launch, raise, hire and more. Initialized has over 175 companies in our portfolio worth close to $200B in market value and $3.2B in assets under management. More than 25 of our portfolio companies are valued at $1B or more and we are early investors in Coinbase, Instacart, Rippling, Flexport, and Cruise.