From the Wires
Goldman Sachs Leads $54 Million Investment in Infusionsoft
Infusionsoft positioned to dominate the market of all-in-one sales and marketing software for small businesses, with 12,000 customers and fast growth
By: PR Newswire
Jan. 7, 2013 07:08 AM
CHANDLER, Ariz., Jan. 7, 2013 /PRNewswire/ -- Infusionsoft today announces $54 million in growth capital financing from Goldman Sachs. The company 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. Infusionsoft's all-in-one sales and marketing software combines CRM, marketing and e-commerce, and is designed specifically to help small businesses with fewer than 25 employees get more customers, increase repeat sales and save time. See the software that more than 12,000 small businesses use here.
"We're pleased to welcome new investors who share our belief that successful small businesses are the engine behind the economy," says Infusionsoft co-founder and CEO Clate Mask. "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."
The financing follows a banner year for Infusionsoft, with record sales growth pushing the company to more than 12,000 small business customers representing 44,000 users in 70 countries. Infusionsoft solves the most common sales and marketing challenge for small business owners: attracting, capturing and converting leads in an effective way. Infusionsoft has combined CRM, marketing, and e-commerce into one, easy-to-use Web-based software. In 2012, Infusionsoft customers:
Of the 27 million small businesses in the U.S., five million fit into Infusionsoft's target market of small businesses with two to 25 employees. These businesses are owner-operated, lack IT support, follow their buyers online and desperately need effective sales and marketing tools to succeed. Mid-market software and IT support is too expensive and complicated for small businesses, but simple sales and marketing tools can't effectively manage their growing businesses.
Infusionsoft's sales and marketing platform enables small businesses to attract new customers, market automatically, close sales quickly, sell online, get repeat sales and increase referrals. Infusionsoft helps small businesses automatically market and sell while also saving them time and money so they can invest in other areas of their business, and their life. The company packages education, strategy and services with its software so that customers have the opportunity to further learn how to grow their businesses.
"We believe Infusionsoft is the market leader in delivering an all-in-one sales and marketing software solution for true small businesses," says Raheel Zia, managing director for Goldman Sachs Group. "Infusionsoft is a proven partner in working with small businesses and Goldman Sachs is pleased to be an investor in this highly innovative and unique company in the software as a service industry."
The $54 million investment from Goldman Sachs, with participation from Arthur Ventures, will help fund Infusionsoft's future growth plans. To date, Infusionsoft has received a total of $71 million in funding. Goldman Sachs joins Mohr Davidow Ventures and Signal Peak Ventures as investors in Infusionsoft.
Infusionsoft employs 350 people and recently moved into new headquarters in Chandler, Ariz., where it plans to grow to 1,000 employees in just three years.
Infusionsoft Customer Comments
"Infusionsoft has been heaven sent. It allows me one place to go for working with the most important business systems; CRM, marketing, and shopping cart. And being able to automate my business systems and workflow has really changed the way I think about, and do, business," says Michael Mills, owner of Telestory Pictures.
"Honestly, I feel like Infusionsoft is the brains behind my business. I can handle the creative side just fine but if it wasn't for Infusionsoft there is no way I could track my sales, customers and leads," says Becki Crosby, owner of Whippy Cake.
"Infusionsoft lets us treat every customer as if they were our only customer and helps to cultivate lasting relationships with them," say Gonz Medina and Jason Heslop, co-owners of Blue Chip Athletic.
About Goldman Sachs Group, Inc.
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