In May 2018, the Innovate Indiana Fund invested $200,000 in Costello, a sales co-pilot software company. Only a year and a half later, Costello was acquired by Atlanta-based sales engagement platform SalesLoft. Led by Indiana University alumnus Frank Dale, the Indianapolis company has already begun integrating its software with SalesLoft’s.
The combination of the company’s standout tech and leadership team struck a chord with the staff of IU Ventures, which manages the Innovate Indiana Fund. Dale is a graduate of the Indiana University Kelley School of Business who had successfully founded, scaled and led previous companies to acquisition.
After receiving its investment, Costello proved itself a worthy addition to the world of sales tools. The software stood apart from other similar platforms thanks to its ability to integrate all relevant sales information into one view: All planners, calendars, alarms, pipelines, playbooks, metrics and timelines are available in one place, giving managers the ability to push in-progress deals across the finish line.
Jason Whitney, associate vice president of IU Ventures, said Costello fit naturally within the diverse IU Ventures portfolio.
“The IU Ventures portfolio includes a wide variety of companies, but there is a thread developing with business intelligence and automation tools that are all very complementary,” Whitney said. “This enhanced relationship with SalesLoft will add to our relationships in this sector, providing even more opportunities for partnerships and impact.”