US-based cloud marketing company Act-On software has acquired the assets of US-based e-marketing automation company Marketbright.
Act-On completed a series C round of funding in June, raising $10m from investors including US-based consumer electronics conglomerate Cisco Systems. The round was led by Trinity Ventures and also participated in by fellow US-based venture capital firms U.S. Venture Partners and Voyager Capital.
Marketbright’s own series B round raised an undisclosed amount of funding from the US-based software company CDC Software, as well as venture capital firms Greycroft Partners and Knight’s Bridge Capital Partners, in April 2010. Greycroft and Knight’s Bridge also funded Marketbright’s series A round, in August 2008.
Raghu Raghavan, chief executive officer of Marketbright, said: "We are extremely pleased to be in a position to be able to do this. Marketbright was certainly one of the pioneers of the marketing automation space. We look forward to the opportunity to bring current Marketbright customers into the vibrant and growing Act-On community."
Act-On’s acquisition of Marketbright will allow it to add to a customer list that includes Motorola, IBM and Cisco.