B2B marketing technology provider Demandbase has secured US$ 15 million in financing in an investment round led by Scale Venture Partners and including existing investors Sigma Partners, Altos Ventures, Costanoa Ventures, Sutter Hill Ventures and Adobe Systems.
B2B has not yet taken advantage of the reduced cost of selling that is enabled by digital marketing and data driven decision making,” Chris Golec, founder and CEO of Demandbase, said in a press release.“The new investment will help fuel our growth and fulfill our vision of creating connected conversations with prospects and customers across traditionally siloed technologies and data.”
B2B Companies Spend More on Sites
As reported by Online Media News, this round of funding reflects increased spending by B2B companies on their customer-facing websites. “Companies selling to other businesses have begun to invest more on their websites, integrating marketing automation tools and content management systems,” states an article about the investment.
Demandbase's funding will support this trend, along with a move toward using Internet protocol (IP) rather than cookie-based targeting because of the attributes - such as an industry, revenue and specific company - required to reach customers.”
In addition, Online Media News states that Demandbase grew its customer base by 70% and more than doubled subscription revenue during 2012, and expects to double revenue in 2013 and 2014. San Francisco-based Demandbase also reportedly will open international offices later this year.
The Road to an Optimized Customer Experience
This funding will presumably help Demandbase travel further down the “road to an optimized customer experience” CMSWire said it was following in an October 2012 article about Demandbase’s launch of a B2B advertising solution called Company Targeted Advertising, which enables B2B advertisers to target and personalize display advertising to specific companies or to companies that meet a predetermined list of corporate attributes.
This solution is built upon previous Demandbase releases -- such as the Real-Time ID Service that identifies business web traffic in real time, initially released in 2010 and then updated several times over the years. In 2012, Demandbase launched the Strategic Services Program with the aim of letting B2B marketers implement real-time identification faster and more effectively.
The company is not being specific about how exactly it will spend this newly available money, but it’s safe to assume the end goal will be enabling users to identify and track their customers in real time across the enterprise for better omni-channel service.