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NetProspex Receives $7 Million in Funding to Power Further ExpansionEdison Ventures Leads Round With Second Investment in Marketing Technology Leader (June 06, 2012)
WALTHAM, MA -- (Marketwire) -- 06/06/12 -- NetProspex, the leading provider of business contact data services, today announced it has received $7.0 million in Series B funding. The deal was led by information technology investment firm Edison Ventures, which has invested $8.8 million in the company over the course of two rounds, and will be used to increase sales, accelerate channel partner integrations and support innovative product development. Previous investors also participated in this round.
Keeping customer and new prospect data up-to-date and accurate is a universal problem for B2B marketers. As research from NetProspex found, contact data degrades at a rate of two percent each month. NetProspex alleviates this burden and drives efficient customer acquisition by partnering with B2B marketers to deliver targeted, on-demand prospect lists, data cleansing, and profiling analytics that help to uncover insight from data and optimize lead generation results. The company's solutions integrate with marketing automation and CRM systems, enabling continual lead flow and delivery of quality data at scale.
"NetProspex is leading the industry with the most accurate business contact and company data in the cloud," said Edison Principal Ryan Ziegler, who led the investment. "The company allows marketers to analyze, verify, fix, append and grow prospects and customer data, which is really the lifeblood of any campaign."
Today's investment marks the latest milestone in a period of notable momentum for NetProspex. In fact, the company has doubled in headcount, database size, and revenue every year since 2006. In recent months, NetProspex introduced CleneProspex to the marketplace to meet rising demand from clients for an affordable and reliable data cleansing solution. The company also introduced its award-winning Data Cloud API, with such partners as j2 GlobalR, Inflection, VoodooVox, and Visistat. It was also recently named one of the region's Best Places to Work by the Boston Business Journal, and earned CODiE Awards for both Best Lead Generation Solution and Best Solution Integrating Content into Workflow by the SIIA.
"This investment supports aggressive expansion toward category leadership in cloud-based data services," said Gary Halliwell, NetProspex CEO. "Bad data costs marketers significant missed revenue opportunity and costs hundreds of dollars per record to fix. Chief marketing officers need to get a grip on data hygiene, which is at the heart of what we're doing. We are thrilled to have the power of Edison's network and operational insight as we continue to grow and address these issues."
Founded in 2006, NetProspex drives customer acquisition by partnering with B2B marketers to deliver targeted prospect lists, comprehensive data cleansing, and profiling analytics that help to uncover data insights and optimize lead generation results. Thousands of B2B organizations rely on NetProspex to acquire and maintain clean, accurate contact information to fuel high-performing marketing campaigns.
Winner of two CODiE Awards from the SIIA, Best Lead Generation Solution and Best Solution Integrating Content into Workflow, NetProspex maintains a deep database of millions of crowd-sourced business contacts verified by CleneStep technology. The company was also voted a Best Place to Work in Boston by the Boston Business Journals.
For more information, please visit www.netprospex.com
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