Marketing Automator Act-On Banks $42 Million in VC Funding
Act-On's marketing automation software ties inbound, outbound, and lead-nurturing programs together across email, web, mobile, and social media.Marketing automation software provider Act-On Software, which focuses on small and mid-market enterprises, revealed April 15 that it has landed $42 million in new venture financing. Technology Crossover Ventures led the round with existing investors Norwest Venture Partners, Trinity Ventures, U.S. Venture Partners and Voyager Capital also participating. Beaverton, Ore.-based Act-On will use the new capital to accelerate its business on all fronts, including new product development, sales expansion, and brand recognition. The company now has raised $74 million since it was founded in 2008. Act-On's marketing automation software ties inbound, outbound, and lead-nurturing programs together across email, web, mobile and social media.
Marketing automation is one of the fastest growing categories in business software, increasing at a 60 percent clip annually in a market that is expected to reach $1.2 billion this year, according to Raab Associates Inc.