Demandbase, the first targeting and personalisation platform for business-to-business marketing, has closed $15m in equity funding.
By combining adtech with common marketing technology solutions, Demandbase’s platform makes it possible for business-to-business marketers to serve advertisements to business audiences that can then personalise experiences in real-time on their websites.
Venture capital firm Greenspring Associates led the funding round, which also saw software company Adobe Systems reinvest along with Scale Venture Partners, SigmaWest, Altos Ventures and Costanoa Ventures. The new funding adds to the $33m previously raised by Demandbase.
Chris Golec, chief executive of Demandbase, said: “Real-time bidding display ad spending has become a $4bn dollar market in just a few years, but it had lacked a business-to-business solution. The Demandbase platform fills this void, and the new funding will help us accelerate innovation, grow our proprietary data assets, and extend our competitive advantage.”
Demandbase’s platform integrates with other sales and marketing technologies to deliver unique intelligence about web visitors and better attract, convert and retain the right customers.
John Avirett, partner at Greenspring Associates, said: “Demandbase is disrupting a mega advertising market with a subscription-based advertising solution that is generating measurable returns for their customers. Few companies innovate at the pace of Demandbase and we believe they will be the marketing platform company to drive the convergence of adtech and marketing tech sectors.”
The new financing will help accelerate the growth of the company’s advertising solutions and fund additional innovations slated for release in 2014.