InsideView which powers the world's business conversations, today announced it has secured USD 32.5 million in new equity and debt funding.
Spring Lake Equity Partners led the round. Jeff Williams, partner at Spring Lake, will join InsideView's board of directors. InsideView's investors, including Big Sky Partners, Foundation Capital, Rembrandt Venture Partners, and Split Rock Partners, also participated.
This investment brings InsideView's total funding to over USD 80 million.
InsideView is used by over 20,000 companies across the globe to inform and increase the success of their sales and marketing efforts. InsideView will use the new capital to fuel the growth of its rapidly expanding products:
The company's new API products have grown 500 percent quarter-to-quarter in paid transactions since launching in the third quarter of 2014. ISVs are adopting InsideView's APIs to bring market intelligence to a wide range of markets, including CRM (AscendixRE, Autopilot, CB Insights, LeadEnrich, QuotaFactory, and Riva); predictive analytics (DealSignal, Fliptop, Infer, SalesPredict); business intelligence (Dasheroo); and systems integration (Kairos Technologies).
The InsideView for marketing products experienced 138 percent revenue growth in the first half of 2015 vs. the same period in 2014.
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Customers use the marketing products to clean and enrich their lead data and build targeted prospect lists.
Finally, InsideView will continue to invest in its big data platform, which powers the entire product line. InsideView's industry-leading, proprietary MTV methodology aggregates, triangulates, and validates company and contact data, social and news insights, and business connections from over 40,000 sources.
The result is company intelligence with global breadth and unmatched accuracy, and contact data that is consistently up to 20 percent more accurate than that of other data providers.
The company's platform data has grown three times in volume just since the beginning of 2015.
The company's InsideView for Sales product continues to be ranked as a market leader by G2 Crowd and is embedded in Microsoft Dynamics CRM Online. It continues to deliver value to sales people with its expanded global company and contact information, including 250 percent growth of European data. Earlier this year the company introduced a new mid-priced edition, InsideView Essential, to give customers more flexible deployment options.
"In this new world of uber-competition, insight from big data is the ultimate advantage because market intelligence turns information into opportunity," said Jeff Williams, partner at Spring Lake Equity Partners. "InsideView's superpower is using intelligent data to provide companies with a consistent, unified view of their market opportunity to align sales and marketing for greater revenue performance. That's why they're leading the market and we chose to invest."
"The mindset in companies today is evolving from 'help me be faster' to 'help me be smarter'," said Umberto Milletti, CEO of InsideView.
"Every company is looking to market intelligence to drive success, not just the early adopters. We are seeing more traditional industries like commercial real estate, banking, and manufacturing adopt our products to gain a competitive advantage in their increasingly competitive markets. We chose Spring Lake because of their vast experience with later-stage growth companies and their connections to Wall Street. Working with them brings us closer to an important market like financial services and helps us prepare for our future.