Act-On Software Scores $4M from Voyager, USVP
Act-On Software, an online marketing startup based in Beaverton, OR, has raised $4 million in Series B venture financing, co-led by Seattle-based Voyager Capital and Silicon Valley-based U.S. Venture Partners.
The startup makes marketing and sales automation software (across Web, e-mail, and social media) for businesses. This is a fast-growing and competitive field. Act-On’s customers include IBM, Cisco Systems, and Progressive Insurance. I heard about the news independently, but Mike Rogoway of The Oregonian has more details and context here.
The company is led by founder and CEO Raghu Raghavan, who was previously chief technology officer and co-founder of digital marketing firm Responsys. Act-On previously raised about $2 million in a Series A round from Cisco in early 2008.
Act-On’s software is “a total business disruption to the current market leaders who offer complex enterprise solutions,” says Diane Fraiman, a venture partner with Voyager Capital, who is based in Portland.