Infusionsoft Announces $55 Million Growth Financing Led by Bain Capital Ventures
New investment validates Infusionsoft as the category leader in sales and marketing software for small businesses
(Chandler, Arizona. – Oct. 06, 2014) – Infusionsoft today announced it closed $55 million in Series D growth financing. The investment was led by Bain Capital Ventures with participation from prior investors Signal Peak Ventures and Goldman Sachs. This is the fourth round of financing Infusionsoft has raised since 2007, bringing its total capital raised to more than $125 million.
“Small businesses are the lifeblood of the US and the global economy. Yet many small businesses lack an integrated sales and marketing system to help them grow and succeed. Infusionsoft has been providing software, services, education and a community designed to enable small business success for the last 10 years,” said Clate Mask, co-founder and CEO of Infusionsoft. “Bain Capital Ventures shares our passion and our vision for building the essential small business success platform and brings unique experience with high-growth SaaS businesses to our team. We’re excited to have them as partners.”
The new investment will be used primarily for further product development and commercial expansion.
“Infusionsoft is the category leader in integrated sales and marketing software for small businesses, with a customer base that is multiples the size of its closest competitor. The company has also ‘cracked the code’ on selling to and supporting small businesses in a cost effective and scalable way,” said Deepak Sindwani, a Partner at Bain Capital Ventures who will join the Infusionsoft board of directors. “We believe there is a massive market opportunity ahead to provide software products and services to the millions of addressable customers, and we’re excited to help fuel Infusionsoft’s rapid growth.”
This financing comes on the heels of a record-breaking year for the company. Some highlights from 2014 include:
- Adding more than 8,300 customers, bringing the total to more than 25,000 customers and 87,000 users in 100 countries
- Users adding more than 290 million contacts since the company’s founding
- Users sending 3.8 billion emails year-to-date
- Hiring more than 225 employees, bringing the total to more than 600
- Adding 550 Affiliate, Referral and Certified Partners in the past quarter, bringing the total to 1,500 for the year
- Growing the total count of apps in The Marketplace by Infusionsoft to 150, an increase of more than 78 percent since the end of 2013
- Releasing new mobile-focused product releases like Snap by Infusionsoft and Infusionsoft Mobile
- Reaching record attendance with 3,000 small business owners at ICON14, the company’s annual small business conference
Arthur Ventures and Allure Ventures also participated in the Series D financing. Prior investor Goldman Sachs led a $54 million Series C investment in Infusionsoft in January 2013.
Customer Comments about Infusionsoft
“The passion I have for helping people live healthier lifestyles is the same passion I see in how Infusionsoft helps small businesses,” says Jim Cavale, Partner and COO of Iron Tribe Fitness in Birmingham, Alabama. “By automating my sales and marketing, Infusionsoft allows me to have more time to focus on my core business. It gives me more time to do what I love.”
“Before using Infusionsoft we didn’t have any processes, and while we were growing, we didn’t have a reliable sales and marketing process to attract, convert and retain customers,” said Lisa Macqueen, Co-Founder and CEO of Cleancorp in North Sydney, Australia. “After we started using Infusionsoft back in 2009 our business took off and we’ve used it ever since. It automates so many things that used to take so much time giving me back time to spend with my family.”
“The combination of Infusionsoft’s product with the services and community the company provides has helped our sales and marketing efforts tremendously,” says Ken Chandler, Vice President of Presidential Pools & Spa in Phoenix. “Infusionsoft’s growth is great for small businesses everywhere, but it’s also fantastic news for Arizona and its business community. They are truly an Arizona company on the rise.”
About Bain Capital Ventures
Bain Capital Ventures (BCV) is the venture and growth affiliate of Bain Capital, a global alternative assets platform with approximately $80 billion in assets under management.
With offices in Boston, New York and Palo Alto, BCV has a long history of partnering with sales and marketing technology companies including Booker Software, Captora, Clari, CQuotient, Gainsight, Kenshoo, Optimizely, Persado and SurveyMonkey. Since 2000, BCV has helped steer many ideas to success by partnering with management teams, connecting talented and passionate entrepreneurs with industry experts, opening doors to customers and collaborating on long-term strategies. For more information, please visit www.baincapitalventures.com or follow us at @BainCapVC.
About Signal Peak Ventures
Signal Peak Ventures is a venture capital and growth equity firm with more than $500 million in assets under management. Based in Salt Lake City, Utah, the firm invests in innovative information technology companies and looks for entrepreneurial teams with the potential to transform markets and create lasting value. Specific areas of focus include Internet, SaaS, enterprise software, security, and mobile computing. For more information, please visit www.signalpeakvc.com.
About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.