INDIANAPOLIS, July 23, 2019 /PRNewswire/ -- DemandJump, whose platform is empowering marketers to make better decisions, announced today that it has raised Series A2 funding of $5.5 million led by venture investment firm BIP Capital. The A2 round extends the total amount raised to date to over $14 million.
DemandJump's innovative platform provides a single view of the marketer's data, overlays data that marketers do not have and provides actionable insights powered by AI. Marketers can now see the complete path to purchase for their target market and greatly improve ROI.
DemandJump has experienced year-over-year growth of 121 percent and has doubled its workforce in the last 12 months. With digital marketing spend projected by Forrester to reach $146 billion by 2023, companies are increasingly looking for better analytics and attribution to consolidate their data, spend more time making strategic decisions and truly optimize their marketing budgets.
"What's currently out there are products that silo data from different online channels, making it difficult to get a holistic view of digital marketing performance," said Paul Iaffaldano, Chief Investment Officer at BIP Capital. "We've been looking for some time now for the next evolution in SaaS MarTech and what DemandJump's platform is able to do for digital marketers is truly transformational."
"The complexity of digital marketing has changed the way companies have to market to consumers," said Christopher Day, CEO and co-founder of DemandJump. "We built DemandJump to help companies market with precision so they can transform their marketing departments into revenue centers. We're excited to partner with a firm of BIP Capital's experience and caliber to further accelerate our rapid growth and continue to build on the value we provide to our customers. In addition to funding, BIP Capital offers exceptional operational guidance and mentorship that will be invaluable to our team."
DemandJump plans to use the additional funding to continue to expand their product, engineering, sales and marketing teams. DemandJump was ranked Top 10 in the Indiana Chamber of Commerce 2019 Best Places to Work and has won multiple Mira awards from TechPoint, the industry-led growth accelerator for Indiana's tech ecosystem. It also received recognition in 2017 from the National Retail Federation's Shop.org as one of three national finalists for Digital Commerce Startup of the Year.
About BIP Capital
BIP Capital is recognized as one of the most active venture investors in the Southeast, serving entrepreneurs, investors, and operators to grow the emerging company ecosystem. It applies experience and process to make investment decisions and operational recommendations, allowing its portfolio companies to achieve and stay on a glide path of growth. Areas of focus include Enterprise SaaS, Healthcare IT, Digital Media, Dev Tools, and MarTech. For more information, visit www.bip-capital.com or follow BIP Capital on LinkedIn or Twitter @BIPCapital.
DemandJump is an Indianapolis-based marketing technology company. DemandJump's marketing platform empowers marketers to make better decisions. Learn more at https://www.demandjump.com