Revenuebase Raises $6 Million In Seed Funding To Transform B2b Data Solutions For Sales And Marketing Teams
Martech Outlook | Tuesday, April 21, 2020
RevenueBase is a SaaS startup established in Boston that offers its clients a cutting-edge B2B Revenue Database as a Service. RevenueBase aims to understand clients' go-to-market potential before providing a one-stop, simple-to-use solution for B2B company leaders that is more complete and accurate than other suppliers, allowing users to transform data into revenue growth swiftly.
Fremont, CA: Bessemer Venture Partners led a $6 million seed investment for RevenueBase, a next-generation B2B SaaS analytics solution for sales and marketing organizations. Eight venture capital firms participated in the round, which will collaborate with RevenueBases founders Mark Feldman and Milenko Beslic to grow the company's offering.
RevenueBase was built on the belief that the B2B data market was incredibly defective, and it formally launched in the spring of 2021. Businesses were having difficulty discovering and engaging with customers who fit their desired consumer profile. RevenueBase's founders saw an opportunity to design a system that gave critical contact information and drove high engagement, which was the ultimate success.
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“We saw a whitespace for a company like RevenueBase, especially given that weve seen little real innovation or change in this market over the past decade leading business people to be bombarded with impersonal and poorly-targeted messages multiple times a day. This situation has been made worse by The Great Resignation, during which so many people have left their positions and the data hasnt kept up with those changes,” says Feldman. As a result, Milenko and I thought we could provide a better way to help businesses reach out to more buyers and improve income. We accomplish this by supplying information that others lack, such as extremely clear titles, current position information (what they perform), and technographics.
RevenueBase adds value in data completeness, data correctness at scale, and ease of use. The company puts a lot of effort into getting to know its clients, holding proprietary discovery workshops to unlock a client's ideal customer profile, and then sifting through more than 350 million contacts worldwide to deliver reach, using multi-point verification for better data accuracy, and finally resulting in a connection or engagement. RevenueBase's graph technology to better identify the linkages between seemingly unrelated data points contributes to this. Customers who use RevenueBase as a one-stop-shop obtain all of this data easily, eliminating the need to source data from different sources that may not be updating their databases as often as RevenueBase.
“In our short time working with RevenueBase, we've already seen such an incredible lift in our reach, which is what we had been craving for a long time,” said Clint Poole, CMO at Egress. “We’ve been trying to understand the people we want to reach on a deeper level. Working with RevenueBase, we are able to clearly define our ideal customer profile and translate that into effective outreach that connects and ultimately drives our business forward. We are thrilled with our partnership and foresee it only growing stronger as they focus on further innovation.”
Since its inception in May 2021, RevenueBase has secured 14 clients in the SaaS and technology startup industries, including Plannuh, Egress Software, Forj, Pliant, and others. Through investments in product, sales, and marketing, RevenueBase will focus on bringing its advantages to additional firms and improving the breadth and scope of data offered to current customers with this initial round of funding.
"We think the opportunity to be the B2B data refinement layer powering growth-oriented companies is massive," said Kent Bennett, Partner at Bessemer Venture Partners, "We are impressed with RevenueBase's early traction and the Mark's and Milenko's appetite to transform the B2B data industry."
Gutbrain Ventures, PBJ Capital, Argon Ventures, Converge, 2 Lanterns, Graph Ventures, Service Provider Capital, and Omega Ventures were investors in this seed round. In addition, to assure RevenueBase's sustained growth and reinvestment, Kent Bennett, Partner at Bessemer Venture Partners, Bob Davoli, Founder and Managing Director of GutBrain, and Jude McColgan, the former CEO of Localytics, will all join the Board of Directors.
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