Integrate raises $8m to further martech among B2B marketers
B2B martech specialist Integrate has just raised $8m in funding bringing its total investment to $35m, with a host of big-name execs now among its backers.
The new investors of the seven-year-old martech startup include Iron Gate Capital, as well as a notable selection of industry luminaries, including: Scott Dorsey, founder and former chief executive of ExactTarget (acquired by Salesforce); Reggie Bradford, founder and former chief executive of Virtue (acquired by Oracle); plus David Karnstedt, former chief executive of Efficient Frontier (acquired by Adobe).
"The participation of such experienced veterans is a clear sign of validation for Integrate," said Dorsey, who invested via High Alpha Capital, a venture studio where he serves as managing partner.
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Integrate plans to use the growth capital to expand its sales and business development operation, as well as to hire 15 to 20 additional people in product and engineering to focus on demand generation.
Integrate currently serves over 400 customers, including brands such as Dell, Salesforce, Workday, Iron Mountain and ServiceNow, and claims it is undergoing a rapid expansion of its customer base, namely a host of enterprise and mid-market organizations.
According to the company, Integrate’s annual recurring subscription revenue nearly tripled this past year, and it has generated positive operating cash flow for the past four fiscal quarters.
“When we talk about automating the top of the funnel, we’re saying, 'let’s go across the ad tech stack and centralize all of these data points for B2B marketers',” said Integrate chief executive Jeffrey Bloom.
“Where we’ve made tremendous progress is in areas around demand generation, from search, display and social [to] content syndication, call centers and centralizing data from webinars and events.”