The business-to-consumer Marketing Cloud Emarsys has announced it’s getting a $33 million (£21m) equity investment from San Francisco-based Vector Capital.
The Series A minority investment, first institutional funding the company received in its 15-year history, will be used to support the company’s growth in the US and Latin American market, the company said in a press release.
It will also invest in product innovation and sales expanding.
Sameer Kazi, former EVP of Social.com (a Salesforce.com company) and former SVP and GM of EMEA of ExactTarget, will join Matt Blodgett and Alok Pandey from Vector Capital as additions to the Emarsys Supervisory Board.
“We are excited to support the expansion of Emarsys’ unique and powerful platform. We see massive global potential for B2C marketers with Emarsys’ unique integration of usable analytics, personalization, customer intelligence and marketing automation,” said Matt Blodgett, Managing Director, Vector Capital. “We are proud to become Emarsys’ first outside investment partner, and we look forward to working with the company’s talented team to support their ongoing global expansion and rapid growth trajectory.”
The company’s growth is perhaps best described in the fact that it’s opening offices in the United States; in Indianapolis and San Francisco. The U.S. and Latin American expansion is led by Sean Brady who joined Emarsys as President of the Americas. Most recently, Mr. Brady served as Vice President of Existing Business in North America for ExactTarget (a Salesforce.com company).
“We are thrilled about our investment partnership with Vector and look forward to leveraging their insights and resources to support our global expansion,” said Hagai Hartman, Emarsys Founder and CEO. “Ours is the only Marketing Cloud built from the ground up for B2C commerce, where all the applications work and talk together. The vast majority of a B2C company’s marketing resources are currently spent acquiring first time buyers, but not enough is invested in maximizing retention, satisfaction and revenue among existing customers. We plan to change that dynamic.”