A Toronto digital marketing company that calls itself the “advocate marketing expert” today announced an infusion of capital to help it expand globally and beef up its platform.
Influitive closed $30.5 million of Series B round of funding led by Georgian Partners. The company plans to use the cash to help develop AdvocateHub and expand its staff.
Mark Organ, CEO and founder of Influitive, said in a statement that he was "gratified by the enthusiastic response" from investors. “The team leading this round offers Influitive enormous value beyond the financing," he added, noting the he looked forward to "tapping into their broad operational and analytical expertise" as his company as we scale our business.”
Organ was the co-founder and first CEO of Eloqua, the B2B marketing automation platform company acquired by Oracle in 2012. According to Influitive, advocacy marketing emphasizes the accumulated voice of as many advocates as possible. It allows marketers to mobilize advocates to build a network of advocacy.
“The idea of a comprehensive, advocate-centered, self-service platform for marketing is one I’ve been pitching to investors since founding Influitive in 2010,” Organ said in a blog post. “It’s an opportunity that I’ve been thinking about since 2005, when I was the CEO of marketing automation pioneer Eloqua and saw the impact of advocacy on that business. Even before the age of the social web, it was obvious to me that systematic social proof was a powerful and relatively untapped driver of growth for companies.”
Influitive’s latest advancement was its launch in May of Influitive Communities, a platform designed to help businesses use the power of their brand advocates to drive community engagement. Unlike communities that exist to solely lower support costs, the new offering – an add-on to Influitive’s advocate marketing platform – aims to help buyers connect and build relationships through authentic peer-to-peer conversations and interactions.
“We share Influitive’s view of a massive market opportunity for business advocacy that is gaining traction every day,” Simon Chong, managing partner for Georgian Partners, said in a statement. “For a company at this stage, this management team offers deep experience and operational sophistication.”
Influitive has 100 employees, and engages more than 20,000 active advocates each month on its platform. It is targeted toward B2B companies which officials said identify, mobilize and recognize the “advocates” to accelerate business growth.