Following Exponential Growth, Gigya Secures $25 Million in Funding to Seize Market Share
Connected Consumer Management Leader Raises Growth Stage Round Led By Greenspring Associates
MOUNTAIN VIEW, Calif., September 19, 2013-- Gigya, the Connected Consumer Management Suite, today announced the closing of a $25 million funding round led by Greenspring Associates with additional support from existing investors including Benchmark Capital, Mayfield Fund, DAG Ventures and Advance Publications. With the closing of this round, Gigya now has raised $70 million in venture funding. Greenspring Associates has been an instrumental backer behind several leading SaaS businesses and was ExactTarget's largest venture capital investor before its acquisition by Salesforce.com.
Gigya's Connected Consumer Management Suite connects brands with mobile and social consumers by helping them access, manage and leverage first-party consumer data to increase marketing campaign performance and on-site social engagement. The company has gained remarkable traction in 2013, with its technology now being used by more than 700 of the world's largest businesses, reaching 1.5 billion unique mobile and desktop users per month. This year, Gigya has already added high profile clients such as World Wrestling Entertainment, Art.com, AARP, and The Atlantic, joining existing lighthouse clients such as ABC, Pepsi, Verizon, and the NFL.
The new capital will be instrumental in helping Gigya meet increased demand for products like Social Login, Registration-as-a-Service, Identity Storage and the NEXUS Partner Ecosystem and will be used to expand domestic and international sales and marketing teams at the company's Mountain View headquarters and in new offices throughout the world. The company will also invest heavily in product development in order to continue building products that help businesses connect closer with consumers through permission-based identity data made available through Gigya's platform.
"Investing in Gigya was an easy decision to make and we jumped at the opportunity," said John Avirett, Partner at Greenspring Associates. "The company's fundamentals -- its products, its leadership, and its sustained growth -- have put Gigya on the path to becoming a large independent company with an enormous market footprint."
"Gigya is a company with a very large footprint," said Paul Greenberg, founder of the CRM Watchlist, the prestigious annual award given to CRM and sCRM leaders, which Gigya was awarded in 2013. "I believe the company has a unique set of technologies that virtually any large online businesses needs, and this new round of funding shows that Gigya has a major opportunity to grow quickly and substantially."
"Greenspring Associates has an amazing track record investing in SaaS companies and we're thrilled to have them as an investor," said Patrick Salyer, CEO of Gigya. "While we're already 225+ employees and 700 clients strong, the global market is telling us that we need to grow faster to meet demand -- and that's exactly what we're going to do."
Gigya's Connected Consumer Management Suite enables the world's largest brands, including Pepsi, Verizon and ABC to understand and connect more closely with today's mobile and socially connected consumers. The company's technology helps businesses access, consolidate and manage permission-based identity and behavior data, while providing deep customer insights that turn data into action.
Through products like Social Login, Registration-as-a-Service, Social Plugins and Gamification, Gigya provides clients with the rich data, intelligence, and tools needed to reach consumers with the right messages, on the right platforms at the right time. Gigya drives user acquisition and engagement for 700 enterprises and reaches 1.5 billion unique users per month, ensuring that today's businesses stay relevant in the age of the connected consumer.
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