NetProspex Lands $13 Million in Series C Funding to Fuel Rapid Company Growth
Spring Lake Equity Partners Leads Round as Demand for Marketing Data Management Takes Off
Waltham, Mass. – April 8, 2014 – NetProspex, the leading provider of cloud-based B2B marketing data management services, today announced it has received $13 million in Series C funding led by Spring Lake Equity Partners. The funding round brings the company’s total capital investment to date to $27 million and includes follow-on investment from Edison Ventures and other early investors. As the market for B2B data services builds momentum, NetProspex will utilize the funding for further product innovation and to expand sales and marketing to meet growing market demand.
NetProspex also announced today the company’s highest-ever quarterly results for top-line achievement and new customer signings for the quarter that closed March 31. This growing demand is being driven by the fact that, according to Sirius Decisions research, companies that regularly maintain their marketing database realize 66 percent higher conversions to revenue than those that do not.
“NetProspex addresses a growing challenge in today’s B2B companies – the need for reliable, actionable data – and their innovative services plug directly into the technology platforms that today’s modern marketers are building their organizations around,” said Jeff Williams, Partner at Spring Lake Equity Partners. “The company’s rapid growth through 2013 and into the start of this year is clear evidence that the market is primed, the technology delivers and the team is in place to execute at a high level. We are excited to join the cause and help accelerate the company through its next stage of growth.”
Data is at the heart of every successful marketing initiative and marketers are collecting it through an increasingly diverse, and ever expanding, set of channels. At the same time, the marketing organization is rapidly evolving to leverage new technologies that drive incredible efficiencies in connecting with potential buyers and creating interest and engagement. NetProspex ensures that the marketing database that fuels these demand generation efforts is accurate, targeted and actionable so that marketers can focus on building the content that drives results.
“Marketing data management is becoming a requirement for growth-oriented companies and revenue-focused marketing organizations,” said Michael Bird, Chief Executive Officer at NetProspex. “We are thrilled to have the backing of Spring Lake Equity Partners and the continued support from Edison Ventures. We have big plans to expand our footprint and to continue to help companies realize the tremendous impact great data can have in driving revenue.”
As part of the financing round, Jeff Williams will join the NetProspex board of directors, effective immediately.
NetProspex is the smarter B2B data partner. We help marketing and sales organizations optimize their revenue impact by increasing the quality and effectiveness of their marketing database. Thousands of B2B organizations rely on NetProspex to manage their marketing data in order to fuel high-performing marketing campaigns and accelerate the creation of sales pipeline. To make databases richer and more actionable, the company offers a suite of cloud-based data services backed by its proprietary CleneStepTM verification technology and the industry’s largest and most accurate reference database of B2B contacts and companies. For more information visit www.netprospex.com.