Welcoming Influitive to the Georgian Partners Family
Today I’m pleased to announce that Georgian Partners has invested in a very exciting young software company that’s the leader in advocate marketing: Influitive. Georgian Partners led this $30.5M Series B funding round with participation from OurCrowd, Atlas Venture, Docomo Capital, BDC Capital IT Venture Fund, and previous investors Hummer Winblad Venture Partners, Illuminate Ventures, Resolute Ventures, Relay Ventures, CommonAngels Ventures and First Round Capital.
Advocate marketing is a fast growing category of marketing technology that enables companies to discover, mobilize and reward their supportive customers, social media followers and evangelists. These ‘advocates’ are often so passionate about a product or service that they’ll promote it solely for the sake of helping others, usually without any type of incentive.
For example, perhaps you have a friend who’s a big fan of Apple products. After buying the new Apple Watch he posts a picture of himself wearing it on Facebook along with a comment about why he thinks it’s so great. That information subsequently reaches you and everyone else your friend is connected to, perhaps nudging some of you a step closer to buying the watch. Importantly, your friend doesn’t work for Apple and isn’t getting paid to promote its products. He’s just a happy customer sharing his thoughts on a new product with the people in his community
Enter Influitive, the company that we believe has the best advocate marketing solution on the market. Influitive’s advocate marketing software helps companies discover, mobilize and recognize their advocates so that they drive referrals, references, reviews, word of mouth recommendations and more on a company’s behalf. In essence, it helps companies turn their customers into their best sales people.
Companies can invite their best customers to be their advocates, present them with different opportunities to help promote their products and services, such as leaving a comment on a recent blog post, providing a testimonial, or participating on a panel at an industry conference. In the process, those advocates are able compete with each other for recognition, influence and social capital.
It’s a brilliant idea that the folks at Influitive are executing extremely well, a reflection of the outstanding team behind the company. We are particularly excited to be working with such a capable leadership team headed up by founder and CEO Mark Organ. If that name sounds familiar to you it’s because it should. Earlier in his career Mark was the founding CEO of the highly successful marketing automation platform Eloqua (now part of Oracle). Mark clearly knows how to build great companies and we’re excited to be partnering with him and his team on this journey.
We believe that Influitive has a very bright future ahead and we’re delighted to welcome them to the Georgian Partners family.