Marin
Software plans to announce a Series D round of financing Thursday. Triangle Peak Partners joined the company's venture capital investors Amicus Capital, Benchmark Capital, DAG Ventures, and Focus
Ventures, infusing $11.2 million to support growth.
Founded in April 2006, Marin now supports more than 180 customers and manages more than $1 billion in annual search budgets. Marin
founder Chris Lien says the company will use the fund to further develop its search marketing application to support and grow its client base. "Companies will spend about $26 billion in the paid
search space this year, and though we're the largest in our space¸ we still only serve well under 5% of the global market," Lien says.
The products will focus on creative ways for clients
to make more money, perform activities faster, and gain better insights. The biggest challenge today remains broader adoption of platforms. Search marketers still use Excel spreadsheets or
first-generation homegrown applications to manage campaigns. Companies have begun to transition to technology systems, but it's happening slowly.
Lien says there's no plan to raise additional
capital. The latest round should last "indefinitely." Marin Search Marketer bids more than 350 million keywords nightly, automatically generates more than 300,000 client reports weekly, and has an
application uptime of 99.9%.
In the past year, the company has expanded overseas, launched support for Facebook Ads, and delivered new products for search marketers at companies like Razorfish,
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