Demandbase, a marketing technology company, is acquiring a Data-as-a-Service (DaaS) company that aggregates and segments complex data sets.
Demandbase plans to combine its patented real time IP identification technology and account-based marketing (ABM) data assets with WhoToo's behavioral, functional and persona profiles to help companies target and engage customers. The combined company will have 180 employees.
"It's been our mission to extend our leadership in this whole ABM world," Demandbase CEO and founder Chris Golec told CMSWire. He said the WhoToo acquisition will help Demandbase users scale data in a bigger way, as well as better target customers and prospects through advertising and personalization.
Unlike mass marketing, ABM is a targeted approach that enables customers to leverage account-based data across advertising, web activity and into their marketing automation and CRM systems.
"Every web interaction has an IP address, but not every web interaction has a cookie," Golec said. "And with cookies, it's really insufficient if you really are trying to connect your marketing."
WhoToo was founded in 2012.
Matt Rowlen, founder and CEO of WhoToo, said in a statement that the acquisition is a perfect fit. “I cannot think of a better combination to benefit B2B customers," he said, adding that "we will continue to build robust data innovations that will propel Demandbase" in the ABM category.”
Rowlen will lead Demandbase’s expanded data business team and work with the company’s product and engineering teams. The entire WhoToo team will remain in Seattle and expand Demandbase’s Northwest presence.
Demandbase officials said the company grew revenues 80 percent and posted retention rates above 120 percent in the first half of the year. Demandbase is a little more than a year removed from a major platform release — its B2B Marketing Cloud. They call it the first subscription-based marketing platform that helps marketers target accounts, plan ad spending and tie acquisition costs for target accounts to revenue.