Raghavan said the company plans to allocate the funds primarily to the continued expansion of its marketing, global sales and service teams. Act-On recently opened its UK sales subsidiary in partnership with Pipedream Marketing. The new capital will also enable Act-On to further increase its product development and initiatives.
“We went from initial meetings to three term sheets in just over three weeks,” he said. “It was a very nice step up in valuation. [Industry insiders] are giving us credit for what we’ve done in the last five months because of our metrics.”
Act-On’s marketing platform is designed to accelerate the execution of multi-channel online marketing campaigns and also to automate critical marketing tasks by providing graphical analytics and reports in real-time. The solution is targeted at organizations with smaller sales teams. It integrates with applications including Webex and Salesforce.com.
