Infusionsoft Receives $54 Million Investment from Goldman Sachs
Infusionsoft has been on a tear recently. In 2012 they posted $39 million in revenue and hired 150 new employees, bringing their total employee count to 350. Even more exciting, yesterday, they announced a $54 million venture capital investment from a group led by Goldman Sachs.
Infusionsoft is an all-in-one sales and marketing automation software designed for small businesses to convert more leads, grow sales, and save time. The company was founded in 2004 and began by building custom software for small businesses. They explain that they quickly realized a pattern in what their customers needed and that was an all-in-one system to manage their sales and marketing. This resulted in the Web-based system that combines intelligent automation with CRM, email marketing, e-commerce, and social media tools.
Infusionsoft has a series of investments prior to the recent Goldman Sachs $54 million investment. After significant growth from their founding in 2004 to 2007 they completed a series B round of venture financing, totaling $7.9 million. This round was led by vSpring of Salt Lake City, Utah and included the previous investor Mohr Davidow Ventures in Silicon Valley. They used this financing to expand sales and marketing efforts to build upon its previous growth. At the end of 2012 Infusionsoft moved locations from Gilbert to Chandler, Arizona into a building where they expect to grow from the current 350 employees to over 1,000 employees in the next few years. The recent financing from Goldman Sachs follows a banner year with record sales growth. They now serve more than 12,000 small businesses and represent 44,000 users in 70 countries. Even though they are not sharing the financial details of their series C with Goldman Sachs, the company states that they will use the funds to ramp up product development, accelerate marketing and sales, and to grow its partner and education programs in the U.S. and internationally. CEO, Clate Mask, states that “We’re pleased to welcome new investors who share our belief that successful small businesses are the engine behind the economy. No other company in the world serves small businesses an all-in-one sales and marketing software combined with services, strategy, education and passion like Infusionsoft does. We will use this new funding to further transform the way small businesses grow.”
More about Infusionsoft:
CEO: Clate Mask
Headquarters: 1260 South Spectrum Blvd, Chandler, AZ 85286