Folloze Raises $7.3 Million in Funding to Extend Reach of Account Based Marketing (ABM) Sales Platform
Financing Co-Led by Canvas Ventures and NEA to Accelerate Go-to-Market and Fuel Company Growth
PALO ALTO, Calif., September 29, 2016-- Folloze, an Account Based Marketing (ABM) Sales Platform, today announced that it has closed $7.3 million in funding to further accelerate the company’s market traction and grow its sales, marketing and customer success teams. The investment was co-led by Canvas Ventures and NEA, the lead investor in the seed round, with participation by Cervin Ventures and others.
ABM has become a key Go-To-Market strategy for B2B companies, with double the customer adoption in 2016 compared to 2015 and more than 70% of companies now focused on driving revenue with ABM*. A key success factor for ABM is a new “contract” between Marketing and Sales that is transformational. While previous attempts at aligning sales and marketing teams have repeatedly failed, ABM empowers a shift. The new role of marketing is to create and support account-based campaigns for sales to operate at scale, for a specific account or customer situation; salespeople in turn become ‘mini-marketers’, as they own the relationships with their target accounts.
Folloze is the first platform specifically designed for marketers to enable salespeople to use content campaigns, content automation, actionable account analytics and other marketing techniques, all from within their familiar sales tools. These capabilities enable sales to act as consultants and educators during the selling process, delivering significantly more value to customers through the buying journey. This account-oriented approach allows salespeople to manage “account-specific funnels” and drastically increase their pipelines.
“The rate at which Folloze is being adopted by the largest and most sophisticated global enterprise sales organizations is truly impressive,” said Gary Little, Partner at Canvas Ventures. “Sales organizations typically don’t trust the value of marketing generated leads. In contrast, companies adopting Account Based Marketing are using Folloze to create highly personalized sales campaigns for Account Executives tasked with penetrating named major accounts.”
Folloze technology is architected for account personalization, while at the same time can scale to support thousands of accounts. This is achieved via dynamically generated content boards, content campaigning, real time account alerts and content and account analytics.
“The Folloze team has been a great partner as we’ve built out and executed our Account Based Marketing strategy,” said Mike Goldgof, Vice President of Marketing at WhiteHat Security. “The Folloze platform provides our sales development reps with the ability to deliver immediate value to account contacts through relevant, personalized content. Its ability to scale is very important; we can provide customized experiences no matter how large our ABM program grows.”
Folloze was founded in 2013 with the mission to deliver the most engaging personalized buyer experience. The company has grown its revenue by four times over the last year, adding many new customers including Fortune 500 companies.
“ABM practices and technologies will prompt a fundamental revolution of B2B marketing over the next decade,” said Etai Beck, CEO of Folloze. “The opportunity is huge, both from a customer ROI and from a buyer value proposition. We are delighted to see such highly regarded investors supporting this vision and our path to empower the digital salesperson.”
Folloze is conducting free ABM consultancy sessions at Dreamforce 2016. For more info and registration, visit www.folloze.com/DF16.
*According to data from SiriusDecisions 2016 State of ABM
Folloze is a provider of an innovative Account Based Management (ABM) Sales Platform, which enables B2B sales teams to use marketing techniques to engage, develop and win their top target accounts. Built for scale, the platform allows Marketing to empower Sales to deliver account-specific content campaigns, content automation, actionable account analytics and more, all from within their familiar sales tools. These capabilities enable salespeople to act as consultants through the selling process, delivering significantly more value to customers and drastically increasing their sales pipelines.
Folloze is headquartered in Palo Alto, CA with a development center in Tel Aviv, Israel. Folloze was founded by a group of marketing, sales and technology veterans and is backed by world-class investors. The company has dozens of customers including fortune 500 companies. To learn more, and sign up for a trial, visit http://folloze.com.
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