Demandbase Secures $10 Million in Funding To Expand Real-Time ID
- Written by Demand Gen Report Team
- Published in DemandGen Reports
Demandbase, Inc., announced today it has closed a $10 million round of financing to support accelerated growth of the Demandbase Real-Time ID Service.
Sutter Hill Ventures, a venture firm with a 50-year track record of investing in technology based startups, led the round of funding. Existing investors Sigma Partners, Altos Ventures, and Adobe Systems, participated in the round.
“Demandbase is creating what we believe will be the foundation for the next generation of business to business marketing and personalization on the web,” said Greg Sands, Managing Director for Sutter Hill Ventures. “Their proprietary technology which has created a unique global database that grows through a network effect, and a variety of high ROI applications useful to companies from the Fortune 1000 to small businesses, sets the stage for a very significant market opportunity.”
Business marketers are leveraging Demandbase’s Real Time ID service to deliver more targeted web experiences for their business audience and a higher ROI from their sales and marketing programs by knowing the identity of the companies visiting their web site.
With the recent FTC Do Not Track initiative picking up steam, online marketers are searching to find alternative technologies to deliver personalized experiences online without cookies. Demandbase said it is gaining more traction with their customers who need to convert web traffic into sales without landing under the microscope.
“Businesses are engaging online more than ever before and the vast majority of BtoB sales start with, end, or continue due to some type of online interaction," said Chris Golec, CEO, Demandbase. "Customers are relying on us to transform their static web sites to real time engagement and conversion platforms. The investment from Sutter Hill and our existing investors will help make this shared vision a reality”.