Another Day, Another Big Marketing Software Infusion
Seismic, which sells software for automating updates to corporate sales and marketing collateral, has disclosed a $40 million Series C round led by General Atlantic.
The infusion disclosed Wednesday gives the private equity firm a seat on the San Diego-based company’s board, which it filled with Gary Reiner, the former CIO for General Electric. The valuation wasn’t disclosed, but the investment puts Seismic’s total funding at around $64.5 million.
This is the third notable funding round focused on a relatively narrow slice of the sales and marketing software sector. Prior to Seismic’s latest funding announcement, Belgian-based Showpad disclosed a $50 million boost last Thursday and Austin-based Bloomfire added almost $13 million one day later.
All three companies specialize in systems designed to keep libraries of sales presentations and other marketing content automatically updated with fresh data, such as a company’s latest financials. Historically speaking, the process of updating these materials, or customizing them for specific audiences, has been a very manual one.
Seismic’s software connects to a who’s-who list of other cloud business applications including marketing automation and sales systems from Marketo and Salesforce, the DocuSign digital signature platform, and high-profile cloud file-sharing services like Box, Dropbox, and OneDrive.
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The new funding will be dedicated, in part, to shaping Seismic’s sales strategy. The 150-person company has approximately 175 customers, including Allianz, Deutsche Bank, Vanguard, and Workday. Its early success centers on financial services, life sciences and healthcare, technology, manufacturing, and insurance. “There is a significant opportunity in this market for Seismic to expand its strong customer value proposition to new verticals,” Reiner said in a statement.