Raleigh startup raises $3.1 million in funding

Raleigh startup Queue Software has rebranded itself along with raising $3.1 million in new funding that it plans to use to beef up its staff and launch its first product.

The company has changed its name to Dropsource, which is also the name of its upcoming product. Dropsource the product is aimed at enabling businesses – specially startups, small businesses and marketing agencies – to create apps themselves rather than outsourcing the work at considerable cost.

Today Dropsource has 15 employees, up from 7 last December. The company, which previously raised $1.65 million in funding, moved from Syracuse, N.Y., to downtown Raleigh in August 2014.

Some of the new funding will go towards the final stage of development of its product, which currently is being beta tested and is expected to launch early in 2016.

Will Bernholz, the company’s product marketing manager, said that aligning the name of the company and the product was designed to eliminate confusion and focus attention on the product.

Although the company plans to hire additional employees, it’s not projecting how many workers will be added to the payroll.

This story was originally published November 6, 2015 at 12:25 PM with the headline "Raleigh startup raises $3.1 million in funding."