Influitive Raises $7.3 Million Series A
Influitive is an advocate marketing company that has raised $7.3 million in Series A funding. Investors in this round include Hummer Winblad, Relay Ventures, Lightspeed Venture Partners, New Enterprise Associates, Illuminate Ventures, Resolute.VC, Common Angels, and several angel investors. Lars Leckie of Hummer Winblad and Alexa Baker of Relay Ventures will be joining the Influitive board of directors. The company plans on using the funding to ramp up their marketing, sales, and services teams.
The funding will also be used to accelerate the development of their advocate marketing platform AdvocateHub. AdvocateHub is used by marketers for recruiting, mobilizing, and setting up an army of advocates to support marketing campaigns. The system is also used for new client referrals.
Before starting Influitive, Mark Organ was the founding CEO of Eloqua.
“Influitive is exemplary of the kind of company in which Hummer Winblad looks to invest: at the forefront of an exciting market opportunity, management with a proven track record, and momentum that underscores and validates its market approach. As the founding CEO of Eloqua, Mark Organ has a deep understanding of the crucial importance of customer advocacy for the growth and profitability of B2B companies. We are excited to help bring his vision of the ideal advocate experience to the market,” stated Lars Leckie, the managing director at Hummer Winblad.
“This new investment will help us address a critical point of friction in the B2B marketing and sales marketplace by providing a platform that empowers customer advocates. Our users have enthusiastically embraced our unique solution because it focuses on the advocate experience, is highly engaging and drives measurable business value,” stated Mark Organ, the CEO and co-founder of Influitive.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry