Marketing automation business Silverpop has raised $25 million in fresh funding to help it reach out to new customers and build new automation tools that generate revenue and improve ROI.
Silverpop offers marketing automation services across email, social, and mobile formats. It helps its clients engage consumers or sales prospects based on their behaviors. Silverpop also helps with lead management, with lead nurturing and CRM integration. The company now claims to have more than 1,800 customers representing 5,000 brands.
The company ended 2012 with 40 percent revenue growth year-over-year and added 380 new customers. 60 percent of those new customers signed up to help learn about and target specific buyer behaviors.
Silverpop CEO Bill Nussey said his company’s solution lets marketers reach out to consumers and prospects as individuals, which gives it an edge on the competitors like Marketo and Eloqua.
“The world of marketing is undergoing a fundamental shift with customers now more discerning, more educated and more selective than ever before and no longer willing to be part of an audience or locked into a single channel,” Nussey said in a statement. “In 2012, we dramatically stepped up our investment in sales and marketing and drove record-setting growth. This new funding allows us to invest even more aggressively in 2013 and beyond, giving an ever wider set of marketers access to our game-changing solution.”
The new funding was led by Escalate Capital Partners and Silicon Valley Bank. Specifically, the funding is venture debt, which could mean the company is thinking about an IPO. Including the new round, Silverpop has raised more than $50 million, including a $15 million round from D.E. Shaw and Draper Fisher Jurvetson in 2008.
Atlanta-based Silverpop launched in 1999 and has more than 500 employees in the U.S., U.K., and Germany.
Marketing concept via Shutterstock
VB's working with marketing expert Scott Brinker to understand the new digital marketing organization. Help us out by answering a few questions
, and we'll help you out with the data.