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Act-On Raises $10 Million for Online Marketing

By Ashok Bindra
TMCnet Contributor

Aiming to grow substantially this year, cloud based online marketing company Act-On Software has raised $10 million in series C funding from Trinity Ventures, roughly half a year after securing $4 million. Trinity Ventures joins VC firms U.S. Venture Partners and Voyager Capital, as well as Cisco (News - Alert) (also a client), as investors in the Beaverton, Oregon-based company. To-date, the total funding raised by the company stands at $14 million.

Act-On said that it will use the funding to ramp up product development , sales and marketing efforts and to expand internationally. To service the European market, Act-On recently opened a UK sales office in tandem with Pipedream Marketing.

In a statement, Raghu Raghavan, founder and CEO of Act-On Software said, “Act-On’s integrated marketing platform is an idea whose time has clearly come. While this market has been in existence for over 10 years, it is only now beginning to gain traction, and Act-On is at the forefront of this trend. Act-On’s highly intuitive user interface, Instant-On database, and easy-to-use marketing applications, are accelerating the adoption of marketing automation technologies without the burden of dedicated IT support, complex process re-engineering, and cumbersome database maintenance.”

“With the additional funding from Trinity, we’ll be able to bring Act-On to many more users faster and truly participate in defining the requirements of this high-growth market as it goes mainstream,” added Raghavan.

Similarly, Karan Mehandru, principal at Trinity Ventures commented, “Today’s marketing professionals crave a single, unified platform to manage the online marketing initiatives they use to drive their business forward.”

“Act-On’s integrated marketing solution is positioned perfectly to serve that need. Rarely does a company have all the ingredients for success: momentum built on a loyal customer base, an explosive market that is highly receptive and a team that competes to win. Trinity Ventures is proud to fuel the next phase of growth for Act-On,” noted Mehandru.

According to Act-On, it offers a platform that allows marketers to manage a variety of online marketing initiatives from a single, cloud-based system. The company’s marketing automation platform integrates with a number of applications, including Salesforce.com (News - Alert) and Webex. It currently boasts over 250 active customers managing over 25 million contacts. Based on first quarter revenue, Act-On is already predicting close to 300 percent growth this year.

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