Demandbase Adds $15 Million in New Financing to Accelerate Growth of Marketing Platform
Greenspring Associates Leads Growth Round with Full Participation by Existing Investors
SAN FRANCISCO, March 24, 2014-- Demandbase, Inc., the B2B targeting and personalization company, today announced it has closed a $15 million round of equity financing. Greenspring Associates, one of the world’s largest venture-only fund-of-funds with nearly $3 billion in committed capital, led the round. The investment included participation by existing investors including Scale Venture Partners, SigmaWest, Altos Ventures, Costanoa Ventures and Adobe Systems Incorporated (ADBE). The new financing will help accelerate the growth of the company’s advertising solutions and fund additional innovations slated for release in 2014.
“Demandbase is disrupting a mega advertising market with a subscription-based advertising solution that is generating measurable returns for their customers,” said John Avirett, Partner, Greenspring Associates. “Few companies innovate at the pace of Demandbase and we believe they will be the marketing platform company to drive the convergence of adtech and marketing tech sectors.”
In 2013, the volume of web interactions managed by Demandbase’s cloud-based platform nearly tripled to more than 10 billion through connectors into more than 30 leading marketing solutions, including technologies from Adobe, Salesforce, Oracle and Marketo. The company’s proprietary Demand Side Platform (DSP) for B2B advertising grew at even a faster pace, scaling to more than five billion impressions per day with integrations to public advertising exchanges including Google, Microsoft, Facebook and multiple private exchanges. By combining adtech with common marketing technology solutions, Demandbase’s platform makes it possible for B2B marketers to serve ads to business audiences and target accounts across the web and then personalize experiences in real-time on their website, connecting the off-site and on-site experience.
“Real-time bidding (RTB) display ad spending has become a $4 billion dollar market in just a few years, but it had lacked a B2B solution,” said Chris Golec, CEO of Demandbase. "The Demandbase platform fills this void, and the new funding will help us accelerate innovation, grow our proprietary data assets, and extend our competitive advantage.”
To learn more about Demandbase, visit http://www.demandbase.com
Demandbase is the first targeting and personalization platform for B2B, transforming the effectiveness of marketing programs and marketing’s ability to impact revenue. While personalization tools have long existed for B2C, until now, none were geared specifically to enable B2B marketers to make online interactions more effective, delivering the right message at the right time. Demandbase’s patented identification technology bridges the gap between known and anonymous web visitors by identifying and segmenting the companies visiting a website, and providing detailed, targetable business attributes in real-time. Demandbase integrates with other sales and marketing technologies to deliver unique intelligence about web visitors, and better attract, convert and retain the right customers. Enterprise leaders and high-growth companies alike use Demandbase to drive better marketing performance. For more information, visit http://www.demandbase.com.
About Greenspring Associates
Greenspring Associates, founded in 2000 with offices in Maryland and California, is one of the largest venture-only fund-of-funds managers in the industry today with 25 full-time employees and $2.7 billion in committed capital. The Firm is actively managing five global venture capital fund-of-funds, a dedicated late stage venture capital/growth equity direct investment fund and certain customized venture capital investment mandates. To identify and gain access to the world's top-performing managers and their leading later stage direct investments, Greenspring Associates leverages its deep industry relationships, value-added investment approach and proprietary due diligence processes, in an effort to provide its investors with a globally diversified portfolio capable of generating superior investment performance.
Jennifer Conway, 978-463-0289
Venture Capital Database