SAN FRANCISCO, May 4, 2016 /PRNewswire/ -- ON24, the worldwide leading webinar marketing platform, today announced that Goldman Sachs' Private Capital Investing group has invested $25 million in the company.
The funding comes on the heels of rapid growth for ON24 -- the company experienced 70 percent year-over-year subscription revenue growth in 2015. ON24 will use this funding to accelerate both domestic and international expansion as well as enhance the capabilities of its marketing platform.
"In today's volatile economic climate, more and more businesses are turning to the proven power of multimedia marketing, including video and webinars, to truly connect with prospective customers," says Sharat Sharan, CEO and Co-Founder of ON24. "This funding will allow us to help businesses everywhere deliver billions of dollars in sales pipeline through our marketing platform."
"Goldman Sachs is excited to invest in webinar leader and multimedia marketing platform ON24," said Holger Staude, Vice President in Goldman Sachs' Private Capital Investing Group, who will also join ON24's Board of Directors. "We believe that the company's flexible, scalable cloud-based platform makes webinars accessible to both enterprises and smaller businesses."
The phenomenon of the self-educating consumer is as relevant in the B2B space as it is for B2C companies. Today, because of the engaging nature of video and webinars more and more marketing leaders are turning to this proven medium to educate their target audience. This market trend has led ON24 to grow to serve more than 1,500 customers — making the company the leading webinar marketing platform for demand generation, lead qualification, and customer engagement.
In fact, ON24 supported more than 60,000 webcasts in 2015 -- with more than 732 hours of content delivered every hour -- and this year will deliver more than 100,000 webcasts. In addition, ON24 has received widespread praise from industry analysts, with a Forrester report stating that "ON24 has the best webcasting technology for marketers." The company's award-winning, patented, cloud-based platform enables companies of all sizes to deliver engaging live and on-demand webinars.
ON24 is the leading webinar marketing platform for demand generation, lead qualification and customer engagement. Its award-winning, patented, cloud-based platform enables companies of all sizes to deliver engaging live and on-demand webinars. Providing industry-leading analytics that can be integrated with all leading marketing automation and CRM platforms, ON24 enables marketers to optimize demand generation, enhance lead qualification and accelerate sales pipeline opportunities.
Additional applications for the ON24 product portfolio include virtual training, talent development and town hall meetings. More than 1,500 companies and organizations rely on ON24, including IBM, CA Technologies, Merck, JPMorgan Chase, Credit Suisse and SAP. The company is headquartered in San Francisco, with offices throughout the world. For more information, visit http://www.on24.com.
About Goldman Sachs Private Capital Investing:
Private Capital Investing ("PCI") is Goldman Sachs' investment platform dedicated to providing junior capital to growth and middle market companies throughout North America. PCI invests $20 million – $150 million per transaction in the form of common, preferred, and structured equity. Contact: firstname.lastname@example.org
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