Demandbase Reels In $65 Million, Looks To Expand AI, Machine-Learning Capabilities

Account-Based Marketing (ABM) platform Demandbase announced the closing of $65 million in new financing on Thursday, bringing total funding to date to more than $150 million.

The Series H funding was led by Sageview Capital, and includes participation from Silver Lake Waterman, Adobe Systems, Altos Ventures, Greenspring Associates, Scale Venture Partners, Sigma Partners and Split Rock Partners. 

Demandbase plans to funnel the new financing into product development, aiming to expand its artificial intelligence (AI) and machine-learning technology.

Founded in 2007 and based in San Francisco, Demandbase offers a suite of marketing solutions for personalized digital marketing and advertising within the Demandbase B2B Marketing Cloud. Demandbase’s B2B Marketing Cloud is tailored to help B2B marketers delivered personalized advertising to specific accounts online.

Demandbase is an ABM platform spanning marketing, advertising and analytics, meaning that it helps its customers target prospective client accounts as markets of one. Account-based marketing enables B2B marketers to provide the same personalized marketing experience touted in the consumer realm, and some of Demandbase’s clientele includes major enterprise providers like Adobe, Oracle and Salesforce. 

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ABM marketing must be in high demand, as Demandbase has more than quadrupled revenue over the past three years.

Demandbase’s marketing solutions are powered by a proprietary database of B2B interactions and company relationships, a database the company claims is growing by billions of attributes every month. AI is then applied to this data, helping marketers pinpoint potential leads and insights that can drive sales.

Demandbase’s targeting capabilities were greatly expanded last year when the company acquired Spiderbook, a data science startup that scans online attributes such as Web pages and SEC filings to automatically identify the best businesses for marketing outreach.

 

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