SalesFUSION Gets $1M In Venture Capital, Will Add To Marketing And Sales Staff
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SalesFUSION will use the $1 million in Series A-1 venture capital is has raised to quadruple its sales and marketing team and have a greater presence at industry trade shows, according Chad Ruff, founder and CEO of the cloud marketing automation software company.
“The marketing automation space has been growing at a dramatic pace for the past few years and we are poised to take advantage of the expanding marketplace,” Ruff told Demand Gen Report. “We have been doubling our revenue over the past several years, and this will allow us to expand our marketing and sales head count by 400%.” The company currently has seven people on the sales team and three people in marketing, he said.
Ruff said the additional capital will also enable the company to increase its presence at industry trade shows, including Salesforce.com’s Dreamforce and Microsoft Dynamics’ Convergence 2013.
Although profitable for some time, Ruff said SalesFUSION opted for outside funding to grow even faster as enterprise demand for B2B marketing automation software has increased. Hallett Capital, which led first-round investments in Atlanta-born tech companies Northridge Systems, Cloud Sherpas and BetterCloud, contributed the full amount of the funding and managing director Jon Hallett will join SalesFUSION’s board as chairman.
SalesFUSION expects to raise additional capital in late 2013 to fund international expansion and possible acquisitions.