The smell of money is in the air for vendors in the marketing technology space this week.
Radius secured $50 million earlier this week for its B2B predictive marketing software.
And InsideView, the San Francisco-based sales and marketing software company, secured $32.5 million yesterday in a round led by Spring Lake Equity Partners. This investment brings InsideView’s total funding to more than $80 million.
InsideView’s technology comes up in CRM circles, and who wouldn’t want to invest there? Gartner Research reported worldwide CRM software totaled $23.2 billion in 2014, up 13.3 percent from 20.4 billion in 2013.
3 Focus Areas
InsideView claims its technology is used by more than 20,000 companies. Company officials said they will use the latest investment to grow:
- API products, which have increased 500 percent Quarter-to-Quarter in paid transactions since launching in the third quarter last year. InsideView’s APIs are being leveraged in CRM (AscendixRE, Autopilot, CB Insights, LeadEnrich, QuotaFactory, Riva), predictive analytics (DealSignal, Fliptop, Infer, SalesPredict), business intelligence (Dasheroo) and systems integration (Kairos Technologies).
- Marketing products, which experienced 138 percent revenue growth Year-over-Year in the first half of 2015. The marketing tech is used to clean and enrich lead data and build targeted prospect lists, according to InsideView officials.
- A big data platform, which aggregates, triangulates and validates company and contact data, social and news insights, and business connections from more than 40,000 sources. Platform data has grown three times in volume just since the beginning of this year, according to company officials.
Sales Meets Marketing
InsideView for Sales, which is embedded in Microsoft Dynamics CRM Online, has reportedly seen a 250 percent growth of European data.
“In this new world of uber-competition, insight from big data is the ultimate advantage because market intelligence turns information into opportunity,” Jeff Williams, a partner at Spring Lake Equity Partners, said in a statement. “InsideView’s superpower is using intelligent data to provide companies with a consistent, unified view of their market opportunity to align sales and marketing for greater revenue performance. That’s why they’re leading the market and we chose to invest.”
Umberto Milletti, CEO of InsideView, said the company is seeing more traditional industries like commercial real estate, banking and manufacturing adopt his team’s products.
Williams will join InsideView’s board of directors. In addition to Spring Lake Equity Partners, Big Sky Partners, Foundation Capital, Rembrandt Venture Partners and Split Rock Partners also participated in this funding round.
Title image by Jeffrey.