Act-On Software Announces New Funding to Accelerate Success of Growth Marketing Automation Platform
$20 million round of growth financing
Act-On Software, the leading growth marketing automation platform, announced $20 million of growth financing from existing investors U.S. Venture Partners (USVP), Technology Crossover Ventures (TCV), Norwest Venture Partners, Voyager Capital, founder Raghu Raghavan and new investor, Beedie Capital. The funding, which is comprised of equity and debt, will drive customer and revenue growth through product innovations and expansion of the company’s go-to-market activities.
Act-On will use this financing to build upon platform enhancements introduced throughout 2020. The company will also invest in its partner ecosystem through a cadre of new integrations and strategic relationships with best-of-breed solution providers and channel partners. Additionally, the investment will accelerate its current efforts of developing a more comprehensive and value-driven post-sales experience for its customers.
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“For today’s buyer, a great product or service is not enough. Buyers want meaningful and authentic brand experiences before, during and after a purchase. It has become essential that marketers evolve and drive engagement throughout the entire customer lifecycle,” said Kate Johnson, CEO of Act-On Software. “Our mission is to empower modern marketers to do more than just create sales leads–we’re helping them deliver holistic brand experiences that strengthen customer loyalty and drive adoption. This is the future directive of all marketers regardless of industry, geography or market segment and with this investment we are able to advance our vision at accelerated pace.”
Since launching its rebranded Growth Marketing Automation Platform in June 2020, Act-On has released new innovations that modern marketers demand, including:
- Industry-first Zoom webinar integration
- Automated Journey Builder for customer lifecycle support
- Transactional event-triggered email capabilities
- Integrated real-time SMS messaging capabilities
- Localized offerings in both Canada and the European Union that are purpose-built to comply with relevant data protection regulations.
These new innovations, combined with the platform’s advanced capabilities such as segmentation, personalization, and multi-channel communications, enable customers to drive value beyond just customer acquisition.
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To capitalize on this investment, Act-On plans to expand its team in its Portland, OR headquarters and remotely, with an emphasis on engineering, product management and go-to-market roles.
“As a long-time investor in Act-On, we have always believed in the power of marketing automation,” said Rick Lewis, General Partner, U.S. Venture Partners (USVP). “Over the past year, our enthusiasm has strengthened as we have seen the company expand its solution to address the unique needs of mid-market companies as they continue to seek avenues of customer acquisition and growth. We’re thrilled to support Act-On as the company realizes its potential to be the leading independent company in the marketing technology sector.”