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IgnitionOne will use the $20m to grow its sales and marketing outfit and acquire other firms

IgnitionOne will use the $20m to grow its sales and marketing outfit and acquire other firms

IgnitionOne, a provider of cloud-based digital marketing technologies has secured $20m, which the company said would be put towards expanding its sales and marketing outfit as well as fuelling its next round of strategic acquisitions.

The latest round of funding was led by new investor SoftBank Capital, ABS Capital Partners and Brown Savano were among existing investors that also participated with the round.

The company was founded 10 years ago as a marketing automation specialist and has over 450 employees in 17 offices across 10 countries, but its services now extend into social media and marketing data management. Some of its higher-profile clients include Fiat, GM and Bridgestone.

“We are committed to simplifying the lives of marketers by assimilating the most important marketing and advertising technologies into a single stack and this capital raise will allow us to accelerate that vision,” said Will Margiloff, chief executive officer of IgnitionOne.

“IgnitionOne is leading the industry with the most integrated and complete digital marketing technology. We will continue to be relentless in our drive to bring far greater simplicity and superior performance to marketers, through the power of an integrated solution.”

Margiloff said the investment will go towards expanding the firm’s sales and marketing organisation globally. He also said the firm plans to continue reviewing opportunities for strategic acquisitions, the latest of which the firm concluded in March this year when it acquired digital marketing specialist Knotice.

Matt Krna, partner at SoftBank Capital said he believes the firm can compete with the “mega-vendors” in the cloud-based digital marketing space – of which there are many. The company claims to have 300 million users monthly in 75 countries.

“By focusing on the integration of digital marketing technology, IgnitionOne is addressing an enormous pain point in the industry in a way that no one else is approaching,” Krna said.