San Francisco virtual ad firm DemandBase raises $15M in funding
Marketing software firm DemandBase has secured $15 million in a recent funding round, according to San Francisco Business Times.
Greenspring Associates was the lead investor in the round. Existing investors Scale Venture Partners, SigmaWest, Costanoa Ventures, Adobe Systems, and Altos Ventures also participated in the financing, the report detailed.
VentureBeat cited Chief Executive Officer (CEO) Chris Golec saying: "We're managing a billion transactions on our platform a month. Say Adobe has 1,700 accounts. What we can do is help Adobe by serving ads directly to that number instead of focusing on the 35 million people just visiting the site... At the end of the day, a majority of people visiting a site won't buy anything. What we do is to identify a good customer and bring in more companies to their sites."
Founded in 2006, DemandBase uses its B2B (business to business) enterprise software tool of DemandBase to targets both large and medium-sized firms with real-time ads. The said software has built-in analytic features. As of now, it is still developing the mobile ad capabilities of its tool. The San Francisco-based company has closed $44 million in its previous funding round, the report stated.