Digital marketing platform Offerpop raises $15m
Edison Ventures-led backing will consolidate firm’s market position and invest in new technology
Digital marketing software business Offerpop has announced the closure of a $15m round of Series C funding led by new investor Edison Ventures, bringing the firm’s total backing to $25m.
Founded in 2009 by Prakash Mishra, Allen Bonde, Wendell Landsford and Mark Cooper, Offerpop operates a software-as-a-service (SaaS) platform which claims to allow brands to easily create marketing campaigns across mobile and social media using user-generated content.
Since launch the firm has grown into a leader in its sector, with more than 2,000 enterprise and mid-market clients on its books including L’Oreal, Comedy Central and Lilly Pulitzer.
The current Series C round was led by US-based investment firm Edison Ventures, with input from additional new investors Hearst Ventures and salesforce.com, and existing investors Windcrest Partners, CommonAngels and Mesco Ltd.
It will be used to develop Offerpop’s Campaigns, Content and Commerce products, in addition to expanding its current operations in the US and Europe and opening new offices globally.
Wendell Lansford, co-founder and CEO of Offerpop, said: “The world of brand marketing is changing every day. With the rise of mobile and social, the most powerful content is now user-generated. And the most effective marketing is authentic and consumer-driven.
“Offerpop provides a complete solution for this new reality, allowing brands to adapt to a new marketing landscape driven by social and mobile consumers and content creators.”
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Ryan Ziegler, partner at Edison Ventures, will join the Offerpop board as part of the deal. He said: “New mobile and social technologies are transforming how consumers interact with brands, and as a result a new category of marketing software is emerging that is strategically important to the CMO.
“With its bold vision, business momentum and unique solution, Offerpop is in a commanding position to lead this market shift, and help redefine how marketers engage with consumers.”