Social data management developer Gigya has closed a $25m funding round led by Greenspring Associates, alongside existing investors Benchmark Capital, Mayfield Fund, DAG Ventures and Advance Publications.
With the closing of this round, Gigya now has raised $70m in venture capital funding. Greenspring has previously backed a number of SaaS businesses and was ExactTarget’s largest venture capital investor before its acquisition by Salesforce.com.
Gigya connects brands with mobile and social consumers by helping them access and manage consumer data to increase marketing campaign performance and social engagement. The company’s clients include World Wrestling Entertainment, Art.com, AARP, and The Atlantic, joining existing lighthouse clients such as ABC, Pepsi, Verizon and the NFL.
The new capital will be used to help Gigya meet increased demand and to expand domestic and international sales and marketing teams at the company’s Mountain View headquarters and in new offices throughout the world. The company said it will also invest “heavily” in product development.
“Investing in Gigya was an easy decision to make and we jumped at the opportunity,” said John Avirett, partner at Greenspring Associates. “The company’s fundamentals — its products, its leadership, and its sustained growth — have put Gigya on the path to becoming a large independent company with an enormous market footprint.”
Earlier this year Greenspring was said to be eyeing a final close of its first dedicated direct investment vehicle, targeting late-stage venture growth deals.
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