Dive Brief:
- Demandbase, an account-based-marketing (ABM) business-to-business (B2B) firm, closed a new $30 million round led by Sageview Capital.
- The California company says it plans to apply the funding toward fueling growth, expanding operations globally and spurring sales conversations.
- An April SiriusDecisions report shows that more than 60% of businesses have plans to hike their account development budgets this year -- for context, an estimated $35 billion is already spent on B2B digital marketing efforts annually.
Dive Insight:
"New innovations are making it possible to scale ABM efforts from 50 accounts to 500 or even 5,000. The opportunity for B2B marketers is enormous, and we’re only just beginning to see this category take off," Peter Isaacson, CMO at Demandbase, told Marketing Dive. "Our $30 million investment, led by Sageview Capital, is validation of the long-term growth potential for ABM.”
San Francisco-based Demandbase helps personalize B2B outreach to secure better prospects. As Fortune explains, B2B marketing campaigns aren't measured in clicks, but rather in connections that will hopefully lead to conversations between prospective clients and enterprise sales teams.
Demandbase's technology is used by companies such as Adobe, Salesforce.com, Box, DocuSign and Dell. Their ABM solutions help businesses identify prospects with strong purchase intentions, personalize messages and flag sales representatives.
Ned Gilhuly, founding partner of Sageview Capital and who will be joining the Demandbase board of directors, said in a statement, "Demandbase impressed us with its leadership position in the expanding ABM category, blue chip enterprise customer list, and best-in-class metrics in terms of growth and retention."
Demandbase's total funding is now at $90 million with this new, fifth round.
