SAN FRANCISCO, CA – May 12, 2011 –Demandbase, Inc., a technology company providing business to business marketing performance-improvement solutions, today announced it has closed a $10 million round of financing to support accelerated growth of the company’s business identification technology, the Demandbase Real-Time ID Service. The round of funding was led by Sutter Hill Ventures, a leading venture firm with a 50 year track record of investing in technology based startups, and included participation by existing investors Sigma Partners, Altos Ventures, and Adobe Systems (NASDAQ:ADBE). The funds will support the rapid adoption of the technology by large enterprises and partners, and further expansion of the data network globally.
“Demandbase is creating what we believe will be the foundation for the next generation of business to business marketing and personalization on the web,” said Greg Sands from Sutter Hill Ventures. “Their proprietary technology which has created a unique global database that grows though a network effect, and a variety of high ROI applications useful to companies from the Fortune 1000 to small businesses, sets the stage for a very significant market opportunity.”
Leading business marketers are leveraging Demandbase’s Real Time ID service to deliver more targeted web experiences for their business audience and a higher ROI from their sales and marketing programs because they know the identity of companies visiting their web site. Common applications of the identification service include the ability to shorten or eliminate forms to improve lead generation, target messages or content by company size or industry, and enhance site analytics to measure behavior by industry segment or specific named account.
“Businesses are engaging online more than ever before and the vast majority of B2B sales start with, end, or continue due to some type of online interaction. Customers are relying on us to transform their static web sites to real time engagement and conversion platforms,” said Chris Golec, CEO of Demandbase. “The investment from Sutter Hill and our existing investors will help make this shared vision a reality”.
The Demandbase Real-Time ID Service is built on its Business Resolution Platform, a cloud-based business data network and correlation platform that maps over 1 billion IP addresses to millions of global companies, accurately identifying business web traffic without using cookies, and delivering that information in real-time to drive better website engagement and overall conversion.