Silverpop raises $15 Mn for future acquisitions

Silverpop raises $15 Mn for future acquisitions

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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."

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