This week Act-On announced $16 million in venture capital funding from Norwest Venture Partners, Trinity Ventures, US Venture Partners and Voyager Capital. This round of funding is a drop in the bucket compared to marketing automation’s biggest VC funding recipients like Aprimo, Unica, Marketo, Silverpop, and Eloqua.
That said, Act-On has added over 1,000 paying customers since it’s inception three years ago. After growing at over 300 percent in 2011, the company expects to achieve a triple digit growth rate again this year.
“We’re seeing a huge and sustained demand for our cloud-based marketing automation solution from small and mid-sized businesses –the Fortune 5 million – across all major industries,” said Raghu Raghavan, founder and CEO of Act-On. “This new investment will enable us to further increase our business momentum by expanding operations globally to meet this demand, and also to accelerate product innovation. The next wave of online marketing goes beyond marketing automation, and we plan to address the management of the entire customer lifecycle with a single, easy to use and integrated marketing platform.”
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