You may know Jeremy Bloom from his days as an Olympian on the U.S. ski team or from when he was a professional football player. These days, he’s busy running an enterprise software startup for marketers.
With clients like Salesforce and Dell, Phoenix-based Integrate has raised $8 million in funding from Iron Gate Capital and existing investors, including Foundry Group, Comcast Ventures and Liberty Global. Industry vets like ExactTarget founder Scott Dorsey and DocuSign CEO Dan Springer also participated in the round. The company now has a total of $35 million in funding dating back to 2010.
Marketing teams “are using the software to eliminate most of the manual tasks,” said Bloom. Integrate helps CMOs “better understand what’s working in their marketing and what’s not.”
Integrate’s software helps automate demand marketing, programs that drive awareness of a product or service. Their software also integrates with marketing automation and CRM platforms like Salesforce, Marketo and Eloqua.
There are so many marketing software products that the category has developed its own nickname, “martech.” The beginning of the year saw a 29 percent investment decline in the space, according to a MarTech Advisor study.
But despite a competitive landscape, Integrate has been able to make inroads. Seth Levine, managing director at Foundry Group, said he invested in Integrate again because it’s been growing quickly. He’s seen Integrate “triple revenue in the last 12 months, all while remaining cash flow positive.”
Bloom claims Integrate has been cash flow positive for four consecutive quarters and that its improving financials have attracted potential buyers. He said the company has had “some offers” from middle market and enterprise companies, but that he turned them down so he could continue to build a bigger business. “It is helpful not to have that internal pressure to sell,” he said, sounding optimistic that the company will continue its growth trajectory.
He wants to use the funding to hire more people in sales, business development, customer success, product and engineering teams. Integrate has offices in Phoenix, Denver and Boston.