Act-On raises $42 million
Act-On is a Beaverton, Oregon based marketing automation company that has raised $42 million led by Technology Crossover Ventures with participation from Norwest Venture Partners, Trinity Ventures, US Venture Partners, and Voyager Capital. Act-On has raised a total of $74 million thus far. Act-On was founded in 2008 and has 270 employees today.
Act-On CEO Raghu Raghavan launched the company after seeing potential for an affordable SaaS marketing tool that mid-market companies could use. Raghavan previously founded a company called Responsys, which was acquired by Oracle for $1.5 billion in 2011.
Act-On generates revenue from contracts that range from $500 to over $6,000 per month. The company now has over 2,000 customers. This number doubled in the last 18 months and revenue grew to $23 million in 2013. This is up from $9.2 million in 2012.