OurCrowd is investing in Influitive, the pioneer in B2B advocate marketing software generating segment-leading revenues with numerous Tier 1 enterprise customers (like Oracle, IBM, LinkedIn) and a great list of institutional co-investors — founded by the co-founder and former CEO of Eloqua (acquired by Oracle for $960M in 2012).
Influitive is a company we know well. We’re not just investors, we’re also paying customers. OurCrowd has been using Influitive internally for the past few months to power employee advocacy and are in the process of sending out our first batch of invites to members of our investor community. We were so impressed with the product and the overall opportunity that we aggressively pursued an investment in this round.
Four reasons why we’re excited about investing in Influitive:
- Rapidly emerging segment in a large market: Influitive is the leader in advocate marketing, an emerging segment of the overall $20B marketing software industry. Businesses place great focus on the acquisition of fresh leads through normal marketing practices, but frequently ignore the powerful referral and promotional capabilities of advocates within their existing customer base. Advocates are customers so passionate about a product or service that they promote it for the sake of helping others, usually without great incentive. Influitive has pioneered a new marketing methodology and Software as a Service (SaaS) platform for businesses to engage, incentivize, and direct the activity of their advocates. OurCrowd believes the high ROI and satisfaction customers experience using Influitive indicate that brands will begin allocating budget towards this new marketing channel, growing it into a substantial segment of the marketing industry.
- Significant traction and accelerating growth: Founded in 2010, Influitive has scaled to achieve multiple millions of dollars in 2014 revenue and significant, sustained monthly recurring revenue (MRR) growth. Its current roster of nearly 200 enterprise customers includes well-known brands such as HP, Dell, Intuit, IBM, Oracle, Forrester Research, and LinkedIn. Average customer value is increasing and customer retention is notably high for its industry, driving Influitive’s strong revenue growth.
- Top-tier team and co-investors: Influitive is led by founder, Mark Organ and is his second marketing software venture. Mark was the founder and first CEO of Eloqua, a B2B marketing automation platform that he took public on NASDAQ and that was later bought by Oracle for $960M in 2012. Both VPs of Marketing and Engineering, as well as Influitive’s Director of Product, are Eloqua “graduates”, while their VP of Sales formerly held senior positions at Sophos (rumored to be seeking a ~$1.5B IPO) and VMTurbo (rumored to be valued at $500M in a series D round earlier this year). Influitive’s earlier investors include Relay Ventures, First Round Capital, and Resolute Ventures, all of whom are participating again in this round. The round is being lead by Georgian Partners, a growth equity firm based in Influitive’s hometown, Toronto. Management has communicated that our selection to participate in this round was due in no small part to you, the OurCrowd globally-diverse, strategic investor base.
- Building the next big marketing platform, not a component or gadget: The successful marketing software companies like Hubspot (NYSE:HUBS; ~$1.3B mkt cap), Silverpop (acquired by IBM for ~$300M), Marketo (NASDAQ:MKTO; ~$1.17B mkt cap), Responsys (acquired by Oracle for ~$1.5B), and ExactTarget (acquired by Salesforce for ~$2.5B) all built total marketing platforms. By servicing their corporate customers’ total marketing needs, they were able to capture huge shares of wallet and built incredibly sticky, essential tools for their customers. CEO Mark Organ pioneered modern marketing platforms when he founded Eloqua. He intends to grow Influitive into a broader platform serving brands across any types of advocacy (think event and partner marketing) and in doing so, capitalize on diverse revenue streams. Influitive’s high customer satisfaction and growing average customer value through the sale of additional services around its core platform supports this roadmap, which includes servicing markets like SMBs, information services, B2C software, financial service providers, and high-value B2C businesses.
Mark Organ, Founder & CEO
Mark Organ, founder & CEO – Co-founder of Eloqua, where he served as President and CEO, scalling the company to $20M in revenues. After leaving in 2007, Mark served on the BoD of Game Ventures and conducted a number of consulting engagements
Chris Newton, VP of Business Development
Chris Newton, VP of Business Development– Prior to Influitive, he served as the VP of marketing for Xactly. Before that, Chris was the VP of Marketing for Deem, Ketera, and M-Factor. Started career at Oracle before attending HBS
Ryan Brunner, VP of Engineering
Ryan Brunner, VP of Engineering – Ex-Eloqua Sr. Application Developer and Team lead, responsible for back-end architecture and user-facing products. Most recently, instructor for Ruby on Rails at HackerYou Joined Influitive from the start, 4 yrs ago
Emmanuella Skala, VP of Sales
Emmanuella Skala, VP of Sales – Previously served as the VP of Inside Sales and Channels at VMTurbo. Prior to that, she spent 4 years as VP of Global Channel Sales at Spohos. Sales experience at HP and Oracle as well
Jim Wilians, VP of Marketing
Jim Wilians, VP of Marketing – Ex-Eloqua (since ’05), where he served as Director of Field Marketing, then Sr Director of Product marketing. Also held position as Director of Demand Generantion.
Aaron Rothschild, Director of Product & Customer Experience
Aaron Rothschild, Director of Product & Customer Experience – Ex-Eloqua, who was there from 2006 to 2010 when he joined Influitive. At Eloqua, Aaron served as a Product Manager, Product Support Manager, and Product Specialist