October 14, 2010 08:00 ET
Involver Celebrates 100,000 Customers With $8 Million Series C Funding Round
Additional Funds Fuel Continued Growth and Development for the Web's Most Trusted Social Marketing Platform
SAN FRANCISCO, CA--(Marketwire - October 14, 2010) - Involver Inc., the web's most widely used social-media platform, announced today that it has surpassed 100,000 customers and closed an $8M series C funding round, led by venture firm Bessemer Venture Partners. Existing investors Cervin Ventures and Western Technology Investment also participated. The new capital will be used to fuel Involver's growth initiatives and continue to expand the company's social marketing platform.
"While Involver is profitable today, receiving outside capital is an important and strategic move for any company growing as rapidly as we are," said Rahim Fazal, co-founder and CEO of Involver. "This new round, led by Bessemer Venture Partners, will provide our company with additional opportunities to enhance the value our future and existing customers find in the Involver Platform."
"In the past few years we've watched the social Web -- including sites like Facebook, Twitter and LinkedIn -- turn into an incredibly compelling marketing medium for businesses," said Bessemer's Byron Deeter. "There are few other venues where brands can interact so directly, in a one-on-one fashion, with their customers -- and find new ones." Deeter's Bessemer colleague Philippe Botteri added: "This trend has created an entirely new software category, and Involver is the leading player in it right now. We are proud to back the company and be active in the wider space." Both Deeter and Botteri are joining Involver's board as part of the financing.
Involver has quickly become the choice for leading brands and advertising agencies looking for fully customizable, automated solutions to their social media needs. Current customers include Facebook, the White House, Sony/RCA Records and Foster Farms. Involver's platform currently supports more than 200,000 installed applications and interacts with greater than 325 million social "fans."
Involver's platform is sorely needed. Although social media is exploding, many companies today still aren't sure how to best take advantage of it -- and craft marketing campaigns that both produce measurable results and protect their brands. Involver's technology helps big and small companies do this, allowing brands to do everything from share photos, tweets and whitepapers on social-media sites to offer coupons, polls and even customized "landing pages" for visitors. Brands using Involver's Audience Management Platform benefit from the ability to create and optimize unique social-media experiences for millions of brand advocates on social sites, all from within an easy to manage dashboard.
Involver is the web's most trusted social media platform, providing applications and monitoring tools to over 100,000 brands and agencies to manage a total audience of 325 million plus fans. We power over 200,000 applications that encompass a complete range of social media functions. Involver's Audience Management Platform is the world's most effective way for agencies and their clients to publish, monitor, measure, and manage social media content across multiple social networks from one central dashboard. Our technology and audience engagement tools make it easy to ramp up your marketing on social networks and implement highly effective options to promote brand identity in this new climate of two-way communication. Involver is a Facebook Preferred Developer, a technology provider for Facebook's internal marketing team, and has been recognized by Amazon as one of the most innovative companies on their Cloud Computing platform. Involver is the trusted partner of the world's top brands and agencies including Facebook, Sony/RCA Records, The White House and EVB. Learn more at www.involver.com.
Bessemer Venture Partners is a global investment group with offices in Silicon Valley, Boston, New York, Mumbai and Tel Aviv. One of the oldest venture-capital practices in the United States, BVP has partnered as an active, hands-on investor in Ciena, LinkedIn, Postini, Skype, Staples, VeriSign, W.R. Grace and Yelp. More than 100 Bessemer-funded companies have gone public on exchanges in Canada, India, London and the United States. In addition to Involver, the firm's current portfolio includes many other SaaS, marketing-technology and social-media companies including Cornerstone OnDemand, Eloqua, Bizo, Criteo and Yodle. To learn more, visit www.bvp.com
About Cervin Ventures
Cervin Ventures is an early stage B2B technology fund investing in mobile, cloud computing, software-as-a-service and social media startups. Cervin Ventures has been founded by a team of successful ex-entrepreneurs, whose experience and network allow them to find exceptional entrepreneurs, build strong alignment on company goals with the founders, and work with them to create great companies. Cervin Ventures can be found at www.cervinventures.com.
About Western Technology Investment
Founded in 1980, WTI is exclusively focused on venture debt and has substantial follow-on capacity for portfolio companies at all stages of development. Transactions range from $500 thousand to $25 million for early to late stage companies. Previous portfolio companies include Juniper Networks, Brocade Communications Systems, Google, Cerent, Infoseek, IDEC Pharmaceuticals, Facebook, IronPort Systems, Volcano Corporation, and many others. WTI has completed over 800 financing commitments totaling over $2.4 billion since inception. Western Technology Investment is headquartered in San Jose, California. www.westerntech.com