Silverpop Scores $25M In New Funding

Published: April 25, 2013

Silverpop announced that it has received $25 million in new funding in the form of venture debt from Escalate Capital Partners and Silicon Valley Bank.

Venture debt is a typical precursor to IPOs and acquisitions, leading observers to speculate that Silverpop plans to go public and is an acquisition target of Salesforce.com, Microsoft or another CRM provider. Marketo, another marketing automation provider, recently filed an IPO and is widely believed to bet on track to be acquired by a CRM vendor.

Originally founded as an email solutions provider in 1999, Silverpop has expanded its services to marketing automation for mobile and social platforms. The company enjoyed a 40% growth rate from 2011 to 2012 and added 380 new clients in the past year. The company plans on using the new funding to expand its efforts in behavioral-based marketing automation.

“In 2012, we dramatically stepped up our investment in sales and marketing and drove record-setting growth,” said Bill Nussey, CEO of Silverpop. “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.”

Get the latest B2B Marketing News & Trends delivered directly to your inbox!
ADVERTISEMENT
ADVERTISEMENT
B2B Marketing Exchange
B2B Marketing Exchange East
Campaign Optimization Series
Buyer Insights & Intelligence Series
Strategy & Planning Series