Infusionsoft, a provider of sales and marketing automation software for small businesses, received $54 million in growth capital financing from Goldman Sachs. The funds will be used to ramp up product development, accelerate marketing and sales and to grow its partner and education programs in the U.S. and internationally, according to company officials.
“We're pleased to welcome new investors who share our belief that successful small businesses are the engine behind the economy,” said Infusionsoft Co-Founder and CEO Clate Mask. “We will use this new funding to further transform the way small businesses grow.”
Of the 27 million small businesses in the U.S., five million have two to 25 employees, which is the target market for Infusionsoft, said company officials.
The $54 million investment from Goldman Sachs, with participation from Arthur Ventures, will help fund Infusionsoft's future growth plans. To date, Infusionsoft has received a total of $71 million in funding. In addition to Goldman Sachs, Mohr Davidow Ventures and Signal Peak Ventures are investors in Infusionsoft.
Infusionsoft employs 350 people and recently moved to new headquarters in Chandler, Ariz.