Demandbase, a provider of account-based marketing (ABM) technology, has raised $30 million in equity financing to bring the company’s total funding to more than $90 million.
The company plans to use the investment to accelerate the growth of its ABM solution in the U.S. and abroad. In addition, Demandbase will explore acquisition opportunities to bolster its B2B data assets and real-time identification technology.
With this investment, Ned Gilhuly, founding partner of Sageview Capital, will join the Demandbase board of directors.
“We already see customers spending 10 times more on ABM than they spend on marketing automation tools, and the category will continue to explode over the next several years,” said Chris Golec, CEO of Demandbase. “The additional $30 million investment will allow us to capitalize on this market trend faster and commercialize several ground-breaking innovations in ABM to help keep our customers ahead of their competition.”
This latest round of funding was led by Sageview Capital, with participation from existing investors Adobe Systems, Altos Ventures, Costanoa Venture Capital, Greenspring Associates, Salesforce.com Ventures, Scale Venture Partners and Sigma West.