New investment from Resolute Ventures, Bloomberg Beta, Crosslink Capital and Tekton Ventures to fuel product development, sales and marketing of its industry’s first “analytics cloud” application for B2B marketing attribution, prediction and benchmarking
Building on an exceptional year, BrightFunnel announces major new enterprise client wins including Nimble Storage, HootSuite and ServiceMax.
October 9, 2014 – 7:00AM, SAN FRANCISCO — BrightFunnel, the predictive analytics cloud for B2B marketers, today announced that it has raised a $2.5 million Series Seed investment to fuel product development, sales and marketing efforts. The new investment from Resolute Ventures, Bloomberg Beta, Crosslink Capital and Tekton Ventures will accelerate expansion of its industry-first marketing analytics cloud application, and strengthen integrations with Salesforce and Oracle Eloqua marketing clouds, as well as Marketo, Pardot, Act-On Software and Hubspot marketing automation platforms.
The financing builds on an exceptional year for BrightFunnel, which saw rapid growth in its stable of early adopter clients and key hires, as well as accelerating momentum in the increasingly important market at the intersection of predictive analytics, business intelligence (BI) and marketing cloud technologies. The company is on pace to grow revenues over 20x year over year and announced major new enterprise clients including HootSuite, Nimble Storage and ServiceMax.
BrightFunnel is the industry’s only predictive marketing analytics cloud for B2B marketers, combining multi-touch attribution, intelligent forecasting and industry benchmarking as part of its platform.
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“Marketers can no longer afford to rely on vanity metrics — they must connect marketing efforts directly to revenue. BrightFunnel’s B2B marketing attribution platform enables just that,” said Nadim Hossain, CEO and Co-Founder of BrightFunnel. “The added capital will allow us to continue investing in our predictive intelligence technology and help us expand our sales and marketing efforts.”
“As a former executive at WordPress.com, I have seen first-hand the evolution of marketing technologies and the need for BrightFunnel’s B2B marketing attribution platform,” said Raanan Bar-Cohen, General Partner of Resolute Ventures. “And I’m delighted to be leading this new investment in BrightFunnel, alongside a ‘Dream Team’ of enterprise and big data investors with ties to Salesforce.com, Omniture, Bloomberg and Business Objects.”
“BrightFunnel has helped us become a more data-driven organization,” said Julian Hannabuss, Director of Revenue Operations, HootSuite. “By measuring the revenue impact of our marketing investments, we have increased our focus on marketing activities that drive results, and have brought sales and marketing closer together.”
“Data-driven decision making has been a foundation of Nimble Storage’s success,” said Dan Leary, VP Marketing, Nimble Storage. “BrightFunnel has given us valuable new insights into the true impact of our marketing activities on the business. As a result, we’re making smarter investments with the confidence that we can support continued rapid growth.”
“The rise of predictive intelligence is one of the most important trends to watch in marketing technology,” said Jon Miller, VP and Co-Founder of Marketo. “BrightFunnel is on the cutting edge of that trend, providing analytic solutions for our joint customers. We’re proud that BrightFunnel has chosen to be a Marketo integrated partner.”
BrightFunnel is the industry’s only predictive analytics cloud for B2B marketers. For the first time, CMOs and their teams have a complete picture of marketing’s impact on revenue. Through multi-touch attribution and intelligent forecasting, B2B marketers can now understand the revenue impact of every decision, and align marketing plans with business priorities. BrightFunnel’s clients are data-driven B2B marketing leaders such as HootSuite, Nimble Storage and ServiceMax. For more information, visit www.brightfunnel.com and read the blog at www.brightfunnel.com/blog/.