Silverpop Raises $25 Million From Escalate and Silicon Valley Bank
Silverpop is a marketing automation startup that has raised $25 million in a new round of funding led by Escalate Capital Partners and Silicon Valley Bank. The company plans to use the funding to reach out to new customers and create new automation tools in order to improve ROI and generate additional revenue.
Silverpop has marketing automation services used on e-mail, social media, and mobile devices. The company helps brands interact with customers or sales leads based on behaviors data. Silverpop also helps with lead generation, CRM integration, etc. Silverpop has over 1,8000 customers that represents about 5,000 brands. Silverpop saw a 40% revenue growth year-over-year and added 380 customers in 2012.
“The world of marketing is undergoing a fundamental shift with customers now more discerning, more educated and more selective than ever before and no longer willing to be part of an audience or locked into a single channel,” Nussey said in a statement. “In 2012, we dramatically stepped up our investment in sales and marketing and drove record-setting growth. This new funding allows us to invest even more aggressively in 2013 and beyond, giving an ever wider set of marketers access to our game-changing solution.”
Silverpop has raised over $50 million in total funding. The company is based in Atlanta and was founded in 1999. The company currently has over 500 employees in the U.S., U.K., and Germany.