NextRoll, the San Francisco-based marketing technology company delivering products for ambitious marketers to grow their businesses, announced it has secured $50M in committed financing from Capital IP.
The investment will be used to strategically support the next wave of innovation on NextRoll’s marketing software for both its business units: AdRoll, its marketing and advertising platform for eCommerce brands, and RollWorks, its account-based marketing platform to help B2B companies grow revenue, the statement said.
“We are thrilled by this financing from Capital IP, which will enable us to execute strategic growth initiatives and accelerate our software transformation,” says Roli Saxena, Chief Executive Officer of NextRoll. “The momentum we’ve seen in software adoption demonstrates our market potential and the value we deliver to our customers during a time when they need it most.”
Today’s complex marketing landscape and challenging economy requires brands and businesses to leverage new tools and strategies to grow revenue more efficiently. With deep data and machine learning foundations and new innovative offerings across its software platforms, NextRoll is uniquely positioned to streamline how teams identify, engage, and retain customers to achieve efficient growth at a time when every team needs to do more with less, according to the statement.
“NextRoll has a strong market position in not one, but two categories,” said Capital IP’s Managing Partner Riyad Shahjahan. “The impressive growth of their subscription software business, strong demonstrated retention and the strong foundations of their advertising heritage underscore their mission-critical product suite and the value they deliver for customers. We’re excited to partner with NextRoll as they deliver on an exciting roadmap ahead and continue to drive towards being a Rule of 40 company.”
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