Demandbase Secures $15M to Fuel Triple-Digit Growth
Demandbase, Inc., the targeting and personalization platform for B2B, today announced it has closed a $15 million round of financing to support accelerated growth of the company's online advertising and web site optimization platform, enabling B2B marketers to dramatically improve sales and marketing results. Scale Venture Partners, whose previous investments include Box, Hubspot, ExactTarget (NYSE: ET) and Omniture (acquired by Adobe Systems) led the round. The investment included participation by existing investors Sigma Partners, Altos Ventures, Costanoa Ventures, Sutter Hill Ventures and Adobe Systems (NASDAQ: ADBE). The additional funds will support innovation of Demandbase's patented technologies and the rapid adoption by enterprises in the U.S. and Europe. As part of the investment, Stacey Bishop from Scale Venture Partners will join the Demandbase Board of Directors.
"Demandbase's unique ability to not only personalize a prospect's first engagement with a brand site, but also to focus ad spend on reaching target customers is why ScaleVP is so excited to work with Chris and his team.” said Stacey Bishop, partner, Scale Venture Partners. “We believe Demandbase delivers tremendous value to B2B marketers and we look forward to helping fuel its growth.”
Demandbase's patented real time identification technology provides rich visibility on prospects and customers, as well as the ability to segment audiences. This allows marketers to target online ads to the right companies with zero waste, present consistent, relevant messages and offers on corporate websites, streamline lead capture into their marketing automation systems, and track all activity in their web analytics or business intelligence tools. Leading companies, such as Adobe, HP, Dell and Informatica, have embedded Demandbase's technology into their already-installed marketing systems to power more personalized and targeted experiences for new and existing customers. In 2012 alone, Demandbase grew its customer base by 70 percent, and more than doubled subscription revenue as adoption of its platform expanded within existing accounts.
"Demand for sophisticated but easy to use marketing solutions has grown rapidly in the last year, especially for B2B and enterprise companies. So, there's no surprise at the financial activity in the space from venture funding to IPOs,” said Denis Pombriant, managing principal, Beagle Research. “Demandbase is transforming B2B marketing in meaningful ways and the new funding should enable them to scale their success even faster."
"B2B has not yet taken advantage of the reduced cost of selling that is enabled by digital marketing and data driven decision making. The team at Demandbase has innovated a suite of technologies that is forcing B2B marketers to rethink what is now possible in digital marketing,” said Chris Golec, founder and CEO of Demandbase. “The new investment will help fuel our growth and fulfill our vision of creating connected conversations with prospects and customers across traditionally siloed technologies and data. Online advertising, web site logs, and CRM systems can finally be joined in real-time to connect advertising spend to web site engagement to company revenue.”
Demandbase can plug into existing technologies, including CRM, CMS, marketing automation, chat and analytics to better engage and measure customers across the entire sales cycle. In the last year, Demandbase connected to 25 new technologies, with category leaders such as Adobe, Drupal, Ektron, Eloqua, ExactTarget, Google Analytics, Marketo and Salesforce.
About Scale Venture Partners
Scale Venture Partners (ScaleVP) invests in emerging-growth technology companies with a focus on SaaS, Cloud, Mobile and Internet sectors. With a proven track record and market-specific expertise, ScaleVP is a strategic partner in helping entrepreneurs and management teams scale their business and grow into long-term companies that matter. Founded in 2000, the firm has $900 million under management and is currently investing Scale Venture Partners III. Representative investments include: Box, BrightRoll, DocuSign, Everyday Health, ExactTarget (ET), HubSpot, NComputing, Omniture, RingCentral and Vitrue.
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