Boulder Ventures backing CommercialTribe

BOULDER – Boulder-based Boulder Ventures is one of four venture capital firms backing CommercialTribe Inc., a Denver-based firm that is developing a platform to help train sales representatives.

CommercialTribe announced Tuesday it closed a $3.2 million Series A round of funding. Boulder Ventures invested $1 million, according to Kyle Lefkoff, general partner of Boulder Ventures. Others participating in the round were Westminster-based Access Venture Partners, Denver-based Crawley Ventures and Grotech Ventures in Virginia.

CommercialTribe expects to use the money to continue to develop its social sales learning platform and build out a go-to-market model, said Paul Ironside, chief executive of CommercialTribe, who resides in Lafayette. He said the firm plans to add more jobs. It has 10 employees and hopes to have 21 by year’s end.

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The platform allows sales reps to teach and learn from each other by using various contents, such as video, web, PowerPoint and PDFs. For instance, a manager can capture the best practice of the top sales reps in the organization on video and share the scenarios with other sales reps. That way, reps can practice on their own after watching the video, and managers don’t need to be with them. “Our objective is to improve the productivity of sales reps,” Ironside said.