Demandbase, a cloud-based provider of B2B intelligence that tracks millions of company IP addresses, today announced it had raised $30 million in growth equity funding from Sageview Capital and that Sageview founding partner Ned Gilhuly had joined its board of directors.
This financing round, which includes participation from Adobe Systems and Salesforce.com, will fund international expansion as well as help to commercialize what Demandbase CEO Chris Golec described as “several ground-breaking innovations in account-based marketing.”
The company’s CMO, Peter Isaacson, said that Sageview was attracted by Demandbase’s 80% revenue growth in the first half of this year and the continuing demand it sees for account-based marketing solutions.
“When I think back to when I was at Adobe 15 years ago, we’d sit down with field sales and identify the top 30 accounts we wanted to work with. But now we can develop account-based programs at scale and, instead of targeting 30 key accounts, we can do 300 or 3,000,” said Isaacson.
A SiriusDecisions report released in May said that 60% of companies planned to invest in account-based marketing solutions in the year ahead, with 85% of that spend focused on account-based advertising and website personalization.
