Act-On Software, a US-based marketing software platform developer backed by networking technology provider Cisco, raised $20m yesterday.
The capital was supplied by US Venture Partners (USVP), Technology Crossover Ventures (TCV), Norwest Venture Partners (NVP), Voyager Capital and company founder Raghu Raghavan.
Founded in 2008, Act-On operates a cloud platform that automates digital marketing activities and helps enterprises analyse customer data. It will put the funding towards expanding its engineering, product management and go-to-market teams.
The company last raised funding in 2014 when TCV led a $42m round that also featured NVP, Voyager Capital, USVP and Trinity Ventures, the four investors that had provided $16m two years earlier.
Cisco had joined Trinity Ventures, USVP, Voyager Capital and Stanford Management Company in Act-On’s $10m series C round in 2011, following a $4m series B co-led by Voyager Capital and USVP in November 2010 and $500,000 from unnamed backers three months earlier.
