BERKELEY, CA--(Marketwired - Jul 28, 2016) - LeadGenius today announced that it has closed its Series B financing round of $10 million to radically expand its Account-Based Marketing (ABM) platform. Lumia Capital led the latest round of financing with participation from Javelin Venture Partners and existing backer, Sierra Ventures. All other existing investors including Better Ventures, Bee Partners, Y Combinator (through its new Continuity Fund), Kapor Capital, Initialized Capital, Fuel Capital, Scrum Ventures & FundersClub also participated in the round.
LeadGenius, recently named one of the fastest-growing companies in the San Francisco Bay area by BusinessInsider, doubled its revenue each of the last three years. LeadGenius' dramatic rise has been driven by the company's unique combination of machine learning technology and human researchers to gather and quality-assure B2B contact data. In addition to identifying the best possible accounts in a target market, marketers can also use LeadGenius' SaaS platform to easily connect with decision makers through automated, personalized emails.
LeadGenius' customers range from rapidly-scaling tech startups such as Weebly, to Fortune 500 businesses such as Google and eBay. These companies use LeadGenius' custom lead generation, data enrichment and outbound email services and solutions.
Building on this momentum, LeadGenius will use the additional financing to expand its ABM product features and increase investment in its own sales and marketing resources. LeadGenius customers will be able to more quickly and easily build account lists, target decision makers within high-potential accounts, engage with those contacts, and measure the return on investment (ROI) of ABM programs.
"With this new funding, we will move forward on our vision to be the leading Account-Based Marketing platform. What Marketo does for inbound marketing, we will do for outbound marketing in support of ABM strategies," said Prayag Narula, co-founder and CEO of LeadGenius. "The key to successful B2B outbound marketing is to have really great data, which we are market leaders in, combined with our strategic solutions that enable personalized multi-channel outreach."
He added, "Considering that a lack of data is a critical challenge to successful ABM campaigns, our deep expertise in data and research are an important asset to B2B marketers."
A recent poll of over 100 B2B marketers by the business intelligence company Avention reported that data was by far the largest challenge facing account-based marketers.
"By combining the best of human intuition and artificial intelligence, LeadGenius has emerged at the forefront of smart outbound sales and account based marketing," said Martin Gedalin, partner and founder of Lumia Capital. "As leading companies start to focus to outbound sales, LeadGenius' solution will only grow in importance and we're thrilled be a part of it."
According to Noah Doyle, managing director of Javelin Venture Partners, "LeadGenius solves a problem that every company from start-up to large enterprise faces -- making sales and marketing teams more efficient. From my time building sales teams as a founder, venture investor, and manager at established businesses including Google, I know that fast growing companies strive to improve sales economics because a huge percentage of internal resources are spent targeting and trying to reach prospects."
With this investment, Martin Gedalin of Lumia Capital has joined the LeadGenius board of directors and Noah Doyle from Javelin Venture Partners will join as a board observer. A Y Combinator alum from the Summer 2011 class, LeadGenius has now raised more than $20 million in total funding.
About Lumia Capital
Lumia Capital is a VC firm partnering with leading technology companies in the U.S. and select global markets to accelerate international expansion, business development and mobile partnership opportunities. Lumia works closely with management teams by pairing Silicon Valley insights with global knowledge sharing and relationships. Representative investments include: Careem, EatStreet, Greenhouse Software, Hired, Kabbage, MarkaVIP, OpenDNS (acq. by Cisco), Procore, and Xtime (acq. by Cox Automotive).
About Sierra Ventures
Founded in 1982, Sierra Ventures is a privately held venture capital firm based in San Mateo, Calif. that invests in early-stage emerging technologies and innovative business solutions. Sierra Ventures is known for its experienced investment team and proven 'hands on' entrepreneurial approach. The firm seeks out, invests in, and evolves promising early stage startups to scale and meet enterprise and consumer market demands by leveraging the Sierra team's unique skillsets, their differentiated CXO Advisory Network and proprietary capabilities.
About Javelin Venture Partners
Javelin Venture Partners is a venture capital firm based in downtown San Francisco. Established in 2008, Javelin was founded by entrepreneurs who have each founded, built, and scaled multiple businesses to highly successful outcomes. Javelin uses that spirit of entrepreneurialism to do early-stage investing, helping the next generation of founders build lasting technology companies.
LeadGenius, based in Berkeley, Calif., delivers a marketing and sales platform that enables B2B companies to better engage with their ideal accounts, accelerate the buying cycle, and increase revenue. The LeadGenius platform is powered by best-in-class B2B data which is continually refined through a unique combination of machine learning technology and skilled human researchers. LeadGenius' customers range from Fortune 500 companies such as Google and eBay, to rapidly-growing companies such as Weebly. Founded in 2011 by three U.C. Berkeley graduate students (Anand Kulkarni, Dave Rolnitzky, and Prayag Narula), LeadGenius is a fast-growing SaaS company with the heart of a social enterprise and a mission to provide meaningful opportunities to underemployed individuals with digital skills anywhere in the world. LeadGenius is a charter member and signer of the Good Work Code.