SOURCE: Eloqua Corporation

October 16, 2007 10:28 ET

Eloqua Secures $23 Million in Series C Funding to Expand Global Reach

New Investor Bessemer Venture Partners Leads Round; JMI Equity and Bay Partners Add to Existing Investment

TORONTO--(Marketwire - October 16, 2007) - Eloqua Corporation, the leading supplier of automated demand generation applications and expertise for business-to-business (B2B) marketers, today announced that it has received $23 million in Series C funding. New investor Bessemer Venture Partners led the financing, with existing investors JMI Equity and Bay Partners also participating. Eloqua will use this strategic funding to support the company's rapid customer growth, extend its worldwide adoption -- especially in key global markets -- and continue innovating for current customers across a range of vertical markets and industries.

"We are proud to have attracted a top-tier venture investor like Bessemer to help Eloqua continue its remarkable success," said Joe Payne, CEO of Eloqua. "In addition to its global reach and presence, Bessemer Venture Partners' record of growing technology companies will assist us greatly as we pursue our aggressive expansion in Europe and Asia. Today Eloqua has more than 25 clients with more than $1 billion in revenue each -- clients who need us to support them around the world with our industry-leading technology. This round of investment will help us meet these needs."

Bessemer Venture Partners joins Bay Partners, which invested in Eloqua in 2006, and JMI Equity, which invested in 2005. All three investors are participating in Eloqua's Series C funding.

"Eloqua's combination of proven technology with a comprehensive portfolio of best-practices in consulting and marketing services has fueled its rapid growth and widespread adoption. Our investment will help the company continue to expand its leadership position in demand generation through deeper business alliances, innovative application development, and aggressive global expansion," said Byron Deeter, Partner at Bessemer Venture Partners.

Eloqua Conversion Suite, available in Enterprise, Team and Express versions, meets the needs of a wide range of businesses, from small companies to global enterprises. It has become the industry's leading family of integrated demand generation applications for businesses that expect measurable results from their marketing efforts. An on-demand solution, Eloqua automates and integrates the key marketing and sales functions of email, direct mail, prospect profiling, website analytics, campaign analytics, and sales force automation to improve the quality and quantity of sales leads, eliminate waste and accelerate the entire selling process.

About Bay Partners

Bay Partners is a Silicon Valley-based early stage venture capital firm that has been building successful technology companies since 1976, and has funded more than 350 startups. Notable successes from Bay's portfolio include Brocade, Concord Communications, Exodus, Sonicwall, Placeware, Informatica, Weblogic, Digital Island and NetScaler. Bay is currently investing its eleventh venture fund and has over $1 billion under management. Bay has become a leading SaaS venture capital firm with notable current investments such as Eloqua, Xactly, Cornerstone on Demand and eProject. Bay invests in early stage companies either through the seed track ($250K-$750K) in bold out-of-the-box capital-efficient ideas or through the more typical early stage track ($1M-$7M) in early product development stages of companies. For more information, please visit

About Bessemer Venture Partners

Bessemer Venture Partners is a global investment group with offices in Silicon Valley, Boston, New York, Mumbai, Shanghai, and Tel Aviv. As the oldest venture capital practice in the United States, Bessemer has helped to pioneer the software industry over the last several decades with investments in leading companies such as Veritas, Parametric, Keynote Systems, VeriSign, and Skype. Bessemer currently has one of the largest software portfolios in the venture capital industry with over twenty-five active software investments, including industry leaders such as Bladelogic, BroadSoft, Endeca, Netsmart Technologies, Portrait Software, SWSoft, Tripwire, and Vertica. Bessemer's software practice is now primarily focused on Software as a Service and has been among the most active investors in this emerging market, with investments including Postini (recently acquired by Google), Perimeter eSecurity, LinkedIn, Cornerstone OnDemand, Select Minds, and T3Ci. For more information, please visit or send an email to

About JMI Equity

JMI Equity, based in Baltimore and San Diego, is a private equity firm exclusively focused on investments in growing software and business services companies at all stages of their lifecycles. Founded in 1992, JMI has invested in more than 85 companies throughout North America and has approximately $1.3 billion of committed capital under management. JMI provides the first institutional capital to self-funded companies, partners with management teams to acquire or recapitalize market leading companies and selectively makes investments in early-stage companies. Representative investments include Blackbaud, DoubleClick, Harmony Information Systems, Kronos and Unica. For more information on JMI Equity, visit

About Eloqua Corporation

Eloqua provides the leading integrated demand generation applications and expertise for executing, automating and measuring highly effective B2B marketing programs. Eloqua drives the entire marketing process from contact to close, while making prospect interest and intent visible at every step. With leading technology backed by expert professional services, Eloqua automates best practices in demand generation for marketers who need to produce a continuous flow of qualified leads for a professional sales force. Eloqua's customers include Sybase, Seagate, Nokia, MySQL, Administaff, Nuance and many other leading B2B marketers. Eloqua Corporation is headquartered in Toronto with offices throughout North America and in London. For more information, please visit or call 866-327-8764.

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