While their brand recognition and revenue streams pale in comparison to international corporations, small businesses remain a vital part of the economy.
With their needs and goals differing from those of larger companies, small businesses cannot just leverage whatever platforms or software their big brothers leverage and assume it will work. Instead, they must leverage software specific to their needs.
Infusionsoft, a sales and marketing software provider for small businesses, announced the closing of a Series D round of funding where they saw the reception of $55 million led by Bain Capital Ventures.
The software provider has stated that it plans to primarily use this latest round of funding to further product development and commercial expansion. The company also states that they are going to use the new influx of capital to help build continuity across their lineup of products and services as well as are currently in the process of developing new enhancements to their automation and reporting features.
“Small businesses are the lifeblood of the US and the global economy. Yet many small businesses lack an integrated sales and marketing system to help them grow and succeed. Infusionsoft has been providing software, services, education and a community designed to enable small business success for the last 10 years,” said Clate Mask, co-founder and CEO of Infusionsoft.
Other participators in the Series D funding round included previous investors Signal Peak Ventures and Goldman Sachs.