Toronto’s Influitive announced it has closed $30.5M in a Series B round of funding led by Georgian Partners. Other investors in this round include OurCrowd, Atlas Venture, Docomo Capital, BDC Capital IT Venture Fund, and previous investors Hummer Winblad Venture Partners, Illuminate Ventures, Resolute Ventures, Relay Ventures, CommonAngels Ventures and First Round Capital.
The company plans to use the funds to continue to expand the advocate marketing category and its market-leading platform, AdvocateHub, while fueling its rapid growth through new offerings and global expansion. In addition, Simon Chong of Georgian Partners will join Influitive’s Board of Directors.
Mark Organ, CEO and founder of Influitive, stated:
“I’m gratified by the enthusiastic response we’ve received from investors that share our excitement for advocacy as the most authentic and effective way for marketers to reach buyers. The team leading this round offers Influitive enormous value beyond the financing. I’m looking forward to tapping into their broad operational and analytical expertise as we scale our business.”
Simon Chong, Managing Partner for Georgian Partners, noted:
“We share Influitive’s view of a massive market opportunity for business advocacy that is gaining traction every day. For a company at this stage, this management team offers deep experience and operational sophistication. We are looking forward to helping the company grow by delivering exceptional value to their customers.”
The news comes as Influitive signs its 250th customer, hires its 100th employee, and engages more than 20,000 active advocates each month on its platform. This rapid growth is fueled by a number of industry trends. Buyers are increasingly influenced by peer to peer recommendations, reviews and references instead of marketing and sales pitches. In response, marketers are increasing their focus on the customer experience to cultivate satisfied clients into vocal advocates.
Influitive helps B2B companies identify, mobilize and recognize these advocates to accelerate business growth.
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