[ibimage==32899==Original==none==self==ibimage_align-center]Some of Selling Simplified's 150 employees together in January
Selling Simplified, a leading global provider of Marketing as a Service (MaaS) technology based in Greenwood Village, Colo., announced today that it raised $2.8 million in growth capital.
According to Ben Lazar, Selling Simplified’s chief revenue officer, the capital comes from Berger Associates, a Connecticut-based investment firm. Lazar said the money will be used to do two things: continue the development and effectiveness of their platform — which helps marketers generate, track and nurture leads — and accelerate customer growth.
“To expand our revenue footprint with new customer acquisition and growth of our existing customers, we’re going to be adding a number of people — sales representatives, account represent and inside sales representatives — over the next year,” Lazar said. “We’re going to be adding between 8-10 sales resources.”
The funding follows one small angel round in 2014, Lazar said. In exchange for $2.8 million of funding, Selling Simplified gave a non-disclosed amount of equity.
Lazar said Selling Simplified recently hired a new CTO who will expand the vision of the platform and strengthen the company’s global presence. Beyond the Denver area, Selling Simplified has offices in Atlanta, San Francisco and London, and has operations in India.
By the end of the year, Lazar said Selling Simplified hopes to net 50 new customers. In addition, Lazar said he expects a 50 percent increase in average revenue from its customers, a number that he said doubled in 2014.
Founded in April 2011, Selling Simplified and its technologies make the life of a marketer easier and keeps their work aligned with sales.
“Technology companies are seeking ways to develop and grow their markets," Lazar said. "What Selling Simplified provides is a core technology and service that enables them to effectively identify their ideal customer profile, gather the information about those ideal customer profiles down to the contact level, and then create qualified demand with those target customers. We keep sales funnels full.”
In addition to Lazar, the form D issued with the SEC, dated March 12, lists the following Selling Simplified executives as related persons: Michael Whife, president and CEO, Jagseer Sidhu, COO and secretary, Erin Lemmons, chief people officer, and Daniel de Mos, CFO. The form also lists Eric McClean, who Lazar said is a board member and an angel investor. According to a statement, Peter Marcino co-invested with Berger Associates and will join the board of Selling Simplified Group.
In a statement, Jim Berger, of Berger Associates, said Selling Simplified shows promising potential.
“Berger Associates seeks out investment opportunities in pioneering technology companies that are truly disrupting their industries,” he said. “We see tremendous opportunity with Selling Simplified to transform the way technology enterprises, both large and small, leverage the growth potential of their marketing as a service platform.”
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