Genius.com Raises Series E Funding Led by Emergence Capital
SAN FRANCISCO, CA--(03/16/11) - Genius.com today announced that it has closed a new round of funding, led by Emergence Capital. Existing investors Mohr Davidow Ventures, Accel Partners and Deep Fork Capital also participated. The company has been operating profitably and will use the additional funding to increase investments in marketing and engineering. Genuis.com also announced it has promoted Sam Weber, previously the COO, to the position of CEO. Weber succeeds the company's entrepreneurial co-founder, David Thompson, who remains as strategic advisor.
Genius.com is the only true SaaS solution in the marketing automation space, providing extremely easy to use marketing and sales interfaces that require no training or technical implementation. In Q3 FY2011, Genius.com evolved its revenue model to include a freemium option. In the business freemium model, companies offer both free and paid editions to customers across the globe. Now Genuis.com is able to provide its full breadth of solutions, from simple email marketing to complex marketing automation, via its patented technology to companies of any size from very small businesses to the Fortune 500.
Genius.com's shift to business freemium is a proven success. In the quarter ending January 30, 2011, conversion rates from free to paid accounts increased from two percent in Q3 to nearly seven percent in Q4 and nearly 20% of new business revenue was driven by the new freemium solution. Genius.com's added focus on the VSB/SMB market follows on the incredible success the company has seen with the release of its freemium solution.
"Genius.com is unique in its ability to serve the largest customers and the smallest customer alike. No other marketing automation company can make this claim," noted Sam Weber, CEO of Genius.com. "We are proud of our record of providing world class service to our loyal customers as we worked to profitability and now expand into broader markets."
"Genius.com's unique instant-on technology and cost efficient business model have enabled the company to achieve impressive growth while also becoming cash-flow positive," noted Gordon Ritter, Managing Partner at Emergence Capital. "This is a very rare combination of qualities in the SaaS space and marketing automation in particular. We are very bullish on the company's strategy to pursue new opportunities in the small business space."
Genius.com is the No. 1 provider of social marketing automation, sales lead management and demand generation solutions that enable both marketing and sales users to quickly identify and connect with their best prospects, without IT. With hundreds of corporate customers who use Genius.com solutions to automate email marketing and lead nurturing campaigns, B2B marketers are proving their impact on revenue by delivering the most qualified leads directly to their frontline sales reps, so they can immediately follow-up on their best opportunities and close more deals.
Genius.com is a privately held company funded by Accel Partners, Deep Fork Capital, Emergence Capital and Mohr Davidow Venture, with headquarters in San Mateo, CA. For more information, visit www.genius.com