Putting points on the board for the Portland startup community, Beaverton-based Act-On software today announced a $16 million Series D round of funding. The new investment was led by Norwest Venture Partners. Previous investors, including Voyager Capital, Trinity Ventures, and the US Venture Partners, participated.
According to the funding database Crunchbase, Act-On raised a combined $14 million in its B and C rounds, making this most recent investment larger than both its predecessors.
Act-On works in the business-to-business (B2B) space, powering a cloud-based marketing platform for what it prefers to refer to as the Fortune 5,000,000 – the collection of small and medium-sized businesses that have a budget large enough to support paying for such a product like what it offers. Act-On’s pricing starts at $500 a month, and rises based upon the number of active contacts that a business has on its platform.
On a functional level, Act-On powers lead generation and management, along with content syndication in a single location, helping businesses manage their marketing in a single location, at least in theory. Aside from cash, sales prowess is likely the second most key element in a growing business. Act-On helps businesses generate leads through email marketing, forms, Twitter work, webinars, and a host of other tools.
According to its release on the funding, Act-On has over 1,000 paying customers, and grew over 300% in 2011. It anticipates another year of growth above the 100% mark.
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All signs look strong for Act-On, except it’s oddly unattractive website. Then again, in a B2B, are people keeping that score?
Top Image Credit: Luz Bratcher
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