For Just 3 Cents a Contact, FullContact's API Keeps Records Up-to-date

WHAT: Developer tool for keeping contact information (email addresses, phone numbers ) current and adding social information to contacts. FullContact's database has over 100 million contact records.

LAUNCHERS: Bart Lorang, CEO [ @lorangb, LinkedIn ]. Dan Lynn, CTO [ @danklynn, LinkedIn ]. Travis Todd, COO [ @travis_todd, LinkedIn ]

INSPIRATION: Says Bart, "Contact management is an enormous problem for both businesses and consumers alike. It seemed strange to us that in the age of information and social networks, we're still fumbling around with address books and wasting enormous time updating, maintaining and entering contacts."

BUSINESS MODEL: Charge $0.03 for each contact. Developers get $50 free credit at sign up.   Monthly pricing and discounted rates available for large volumes.

ON PIVOTING: The company started out as WhoSent.it, called ID for email. "In a nutshell, we realized that there were so many different applications of our identity resolution technology, and we couldn't build all the applications ourselves!  So, the next logical step was to make an API platform that developers could use and focus solely on our API," says Bart.

INVESTORS: Tango Group led seed round that included institutional and angel investors.

RAISING: $1.5M in Series A. Most of the round committed, closing in the next week.