ATLANTA, April 24, 2008 -- Silverpop, a leading provider of on-demand marketing technology, has closed a $15 million round of funding. The funds are earmarked for international expansion, R&D acceleration and to fund additional acquisitions to round out the company's on-demand marketing suite.
Profitable since 2004, Silverpop achieved 60 percent revenue growth in 2007 over 2006 and has a sustained 65 percent compound growth rate over the last 4 years. The company has been recognized by Deloitte as the second fastest-growing technology company in Georgia, and Silverpop is the only company that has consistently been named by JupiterResearch as one of the top two enterprise-oriented email service providers each of the last four years.
"On-demand marketing solutions are changing how marketers do their jobs. They are able to be more flexible, more responsive and more competitive, all with lower costs," said Silverpop CEO Bill Nussey. "The demand for Software-as-a-Service marketing solutions is growing at an amazing rate, and investors are beginning to realize the tremendous upside of this market."
The D.E. Shaw group's venture capital unit, a new investor, led the round along with existing investor Draper Fisher Jurvetson and others.
"We believe Silverpop has executed very well in a competitive marketplace," said Michael Banks, a senior vice president in the D. E. Shaw group's venture capital unit. "The next era of marketing effectiveness is going to be heavily impacted by more precise use of targeted on-demand marketing technology in the U.S. and worldwide. We think this company is strongly positioned to lead this evolution."
"DFJ has long been an investor in Silverpop's bright future, and we continue to see strong potential in the online marketing suite of services it offers," said Andreas Stavropoulos, managing director of Draper Fisher Jurvetson. "Because its management team consistently exhibits a unique ability to identify the essential online tools marketers need and make them better, Silverpop will continue to thrive along with its clients."
Silverpop is a premier email service provider delivering a comprehensive array of on-demand, Web-based software solutions serving the online relationship marketing needs of enterprise-level organizations throughout the world. Its Software-as-a-Service approach makes it easy and affordable for marketers to create, automate and execute lifecycle multi-channel marketing campaigns that are timely, relevant and measurable. With highly scalable tools supporting both high-volume BtoC marketing initiatives as well as demand generation activities for BtoB sales processes, Silverpop delivers a robust suite of marketing tools not available elsewhere in the marketplace.
With offices throughout the United States and in the United Kingdom, Silverpop is the only company that has consistently appeared as one of the top two enterprise-oriented ESPs each of the last four years in international analyst firm JupiterResearch's annual evaluation. Silverpop provides email marketing to industry-leading companies including Fossil, Siemens, JetBlue, Aetna, British Sky Broadcasting, Little Tikes, Houghton Mifflin and more. Best practices and white papers are available at www.silverpop.com.
About The D. E. Shaw Group
The D. E. Shaw group is a global investment and technology development firm with more than 1,300 employees; approximately $35 billion in aggregate investment capital as of January 1, 2008; and offices in North America, Europe, and Asia. Since its organization in 1988, the firm has earned an international reputation for financial innovation, technological leadership, and an extraordinarily distinguished staff.
About Draper Fisher Jurvetson
Draper Fisher Jurvetson is the preeminent venture capital firm with global presence through a network of partner funds, with offices in more than 33 cities around the world and over $5.5 billion in capital commitments. DFJ's mission is to identify, serve, and provide capital for extraordinary entrepreneurs anywhere who are determined to change the world. Over the past twenty years, DFJ has been proud to back more than 300 companies across many sectors including such industry-changing catalysts as Hotmail (acquired by MSFT), Baidu (BIDU), Skype (acquired by EBAY), United Online (UNTD), Overture (acquired by YHOO), Athenahealth (ATHN), EnerNOC (ENOC), Interwoven (IWOV), Four11 (acquired by YHOO), Parametric (PMTC), and Digidesign (acquired by AVID).