Bizo Delivers Record-Setting Fourth Quarter; Company Enters 2014 with $50M Revenue Run Rate B2B marketing solutions leader continues high growth trajectory in 2014 with a focus on innovation, customer success, and strong company culture
SAN FRANCISCO, Feb. 4, 2014 /PRNewswire/ -- Bizo, the global leader in business audience marketing, today announced that the company closed out the fourth quarter of 2013 at a record $12.43 million, boosting the company's annual revenue run rate to $50 million. Bizo also delivered bookings of $38.3M in 2013, an increase of nearly 75 percent year-over-year. A primary driver of bookings growth was the launch and rapid adoption of new subscription-based products, including Bizo for Marketing Automation, which enables B2B marketers to synchronize their online display, social advertising, and email nurturing programs.
2013 milestones that drove the company's growth include:
- Increased customer acquisition – 365 new companies engaged with Bizo for the first time. New customers include ADT Security Services, CDW, ClearSlide, DropBox, HootSuite, Hyatt Hotels, Mack Trucks, Penske, SanDisk, Staples, Starwood Hotels, Tyson Foods and Volvo.
- Expansion of partner ecosystem drove channel revenue growth – As direct sales revenue grew at a rapid clip in 2013, the company also drove over $9M in channel revenues through Bizo's growing base of data resellers, including B2B publishers, leading ad technology companies and marketing platform vendors. Partners utilize Bizo solutions and the company's proprietary business audience data to enable a wide range of applications including cross-channel media targeting, site personalization, audience modeling, and website analytics and optimization.
- Rapid adoption of new products – Since announcing general availability in late October, Bizo for Marketing Automation was adopted by more than 25 new and existing customers including Concur, Rockwell Automation, Sage Software, and Avid.
- Growth of headcount by nearly 70 percent – Hiring great talent to build a strong culture and an effective, customer-focused organization has been top priority and a competitive differentiator as supported by Bizo's 2013 Employee Net Promoter Score (eNPS) of 91. With this commitment, the company was able to grow headcount by nearly 70 percent, ending the year with more than 130 total employees.
- Venture debt funding of $12.5M – Bizo secured $12.5M in venture debt during the summer of 2013, providing the company financial flexibility to continue its rapid growth, further build out its technology platform and make strategic investments. In total, Bizo has raised nearly $30 million in total equity and debt capital.
- Continued product innovation – In addition to Bizo for Marketing Automation, the company also developed and released several new products including Full Funnel Analytics, which boosts visibility into display advertising effectiveness and Bizo Data Solutions, which allows marketers to use Bizo's demographic data on over 120 million business professionals to get more value out of their marketing programs and other technology investments.
"2013 was all about bringing innovative new products to market, expanding the reach of our data, and partnering more closely with our clients to deliver results," said Russell Glass, co-founder and CEO of Bizo. "As we head further into 2014, a key focus will be maintaining our great culture as we hire new talent into the organization to take advantage of the big growth opportunity ahead of us."
In 2013, Bizo was named one of America's Most Promising Companies by Forbes, and a CODiE Finalist for Bizo for Marketing Automation. The company was also listed on the San Francisco Business Times Fast 100 for the third year in a row and was recognized by Inc. Magazine in the Hire Power awards.
B2B marketers use the Bizo Marketing Platform to reach their target prospects online and shape purchase decisions. Bizo's data management and targeting technology, fueled by a proprietary audience of more than 90% of the U.S. business population, enables precise and measurable B2B multi-channel marketing programs. The company has earned the confidence of SMB marketers and large global brands including AMEX, Mercedes Benz, Monster, Salesforce.com, Porsche, Microsoft, AT&T, and UPS who use the platform to reach over 120 million business professionals from around the world to impact every stage of their sales and marketing funnel. For more information on Bizo, or for a free look at the business demographics of your website audience, visit http://www.bizo.com.