NetProspex, a cloud-based B2B marketing data management services provider, announced $13 million in series C funding, led by Spring Lake Equity Partners. The capital infusion will go towards continued product innovation and sales and marketing expansion to meet growing market demand, according to Michael Bird, who was recently promoted to CEO from president.
“We are going to use this rounding of funding to focus on our go-to-market strategy,” Bird said in an interview with Demand Gen Report. “We want to build on our already-strong sales organization. As we reach a maturity level in the industry, marketers are realizing that it is not just about developing more content. As marketing organizations embrace new technologies to more efficiently reach their target buyers, data management has become a major challenge.”
The company announced the results for Q1 2014, highlighting a 72% increase in quarter-over-quarter direct bookings and a fifth consecutive quarter of booking growth.
Since the launch of the company’s marketing data management platform in 2013 — the NetProspex Workbench — it has expanded by more than 42% to more than 110 employees.