A Lawrenceville-based investment firm announced Tuesday it was the leader of a $10 million investment in the New York City-based Offerpop, a cloud-based software company focused in social marketing, data insights and analytics for brands and marketers.
Edison Ventures’ investment will help accelerate global sales, fuel product innovation and increase partnerships and platform integration in the United States and abroad.
Co-investors include CommonAngels, Hearst Ventures, Salesforce.com and Windcrest Parnters.
"We are in the early innings for marketers and CMOs to fully utilize the power of social data. The consumer is now the marketer, and social is not just a channel," Ryan Ziegler, partner who led Edison's investment, said in a statement. "Offerpop is the leading profiling platform that scales across social networks. Triple digit growth and customer retention is demonstrable of market demand for their products.”
"Customers rave about the software platform's ease of use, mobile focus, and consumer data and insight capabilities," Tom Vander Schaaff, partner who led the diligence process, said in a statement. "We are excited to partner with an impressive team who are creating a new marketing technology category," said David Nevas, Edison principal.
"For more than three years, we have come to know Edison for their unmatched value-add and enduring record of success building technology leaders," Wendell Lansford, CEO and co-founder, said in a statement. "Their deep industry expertise, relentless focus on execution, and expansive network solidified them as the right strategic partner.”
Offerpop is Edison’s 21st investment in New York as part of the firm’s growing marketing and digital media group. Notable investments include:, Arkadium, Dendrite (Cegedim), Fishbowl, Magnetic, Motionsoft, NetProspex, PlumChoice, RealMatch, Salsa Labs and Vocus.
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