Silverpop raises $15 Mn for future acquisitions

Printer Print Email Email
Atlanta: Silverpop, a provider of on-demand marketing technology, has closed a $15 million round of funding. The funds are earmarked for international expansion, R&D acceleration and to fund additional acquisitions to round out the company's on-demand marketing suite.

Profitable since 2004, Silverpop achieved 60 percent revenue growth in 2007 over 2006 and has a sustained 65 percent compound growth rate over the last 4 years. The company has been recognized by Deloitte as the second fastest-growing technology company in Georgia.

"On-demand marketing solutions are changing how marketers do their jobs. They are able to be more flexible, more responsive and more competitive, all with lower costs," said Silverpop CEO Bill Nussey. "The demand for Software-as-a-Service marketing solutions is growing at an amazing rate, and investors are beginning to realize the tremendous upside of this market."

The D.E. Shaw group's venture capital unit, a new investor, led the round along with existing investor Draper Fisher Jurvetson and others.

"We believe Silverpop has executed very well in a competitive marketplace," said Michael Banks, a senior vice president in the D. E. Shaw group's venture capital unit. "The next era of marketing effectiveness is going to be heavily impacted by more precise use of targeted on-demand marketing technology in the U.S. and worldwide. We think this company is strongly positioned to lead this evolution."

"DFJ has long been an investor in Silverpop's bright future, and we continue to see strong potential in the online marketing suite of services it offers," said Andreas Stavropoulos, managing director of Draper Fisher Jurvetson. "Because its management team consistently exhibits a unique ability to identify the essential online tools marketers need and make them better, Silverpop will continue to thrive along with its clients."

Yamaha Music India has launched its first Indian keyboard PSR I500 under the 'Make in India' initi..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will ..
To ensure uninterrupted functioning of the app in areas of low networks, Facebook-owned..
India's tea exports increased by 11.5 per cent to 17.93 million kgs in April this year aga..
Les Roches Global Hospitality Education, a multi-national hospitality management institute, a..
Actor Dhanush, whose last Hindi release was R. Balkis "Shamitabh", may be working in another H..
Automobile major MG Motors India on Wednesday said that it plans to manufacture electric vehicle E..
Startup City
With cities growing rapidly and infrastructure not keeping pace, the daunting work com..
Imagine life being a romantic Bollywood song of the 90's. All those exotic frames punched into one..