RevenueBase Secures $6M in Seed Funding to Revolutionize B2B Data Solutions for Sales and Marketing Teams
Co-Founders Mark Feldman and Milenko Beslic team up with Bessemer Venture Partners to build the most complete, accurate, and easy-to-use B2B data solution in the world
BOSTON – APRIL 6, 2022 – RevenueBase, the next generation B2B SaaS data solution for sales and marketing teams, today announced their $6 million seed round led by Bessemer Venture Partners. The funding round includes investors from ten venture capital firms who will work alongside RevenueBase’s founders Mark Feldman and Milenko Beslic to further expand its offering.
RevenueBase, which officially launched in the Spring of 2021, was founded on the principle that the B2B data market is incredibly flawed. Companies have significant trouble finding and engaging with people in their ideal customer profile. The founders of RevenueBase saw an opportunity to create a solution that not only provides essential contact information, but also enables strong engagement – the ultimate win.
“We saw a whitespace for a company like RevenueBase, especially given that we’ve seen little real innovation or change in this market over the past decade leading business people to be bombarded with impersonal and poorly-targeted messages multiple times a day. This situation has been made worse by ‘The Great Resignation,’ during which so many people have left their positions and the data hasn’t kept up with those changes,” said Feldman. “Milenko and I knew that we could build a better solution to make it easier for companies to access more buyers in order to increase revenue. We do this by providing information others don’t, such as customer-specific insights, up-to-date role information (what do they actually do), and technographics. We’re excited to have the support of great investors who are on board with our vision.”
RevenueBase delivers value in three key ways; completeness of data, data accuracy at scale and ease. The company is highly involved in understanding its clients, conducting proprietary discovery workshops that unlock a client’s ideal customer profile, and then combing through more than 700 million contacts globally to deliver reach, using multi-point verification for better data accuracy, which ultimately leads to a connection or engagement. This is made possible in part by RevenueBase’s use of graph technology to better understand the relationships between seemingly unrelated data points. RevenueBase customers receive all of this information with ease, using the solution as a one-stop-shop and replacing the need to source data from multiple providers who may not be updating their databases as frequently as RevenueBase.
“In our short time working with RevenueBase, we’ve already seen such an incredible lift in our reach, which is what we had been craving for a long time,” said Clint Poole, CMO at Egress. “We’ve been trying to understand the people we want to reach on a deeper level. Working with RevenueBase, we are able to clearly define our ideal customer profile and translate that into effective outreach that connects and ultimately drives our business forward. We are thrilled with our partnership and foresee it only growing stronger as they focus on further innovation.”
Since its founding in May of 2021, RevenueBase has already secured 20 clients, including Plannuh, Egress Software, Forj, Pliant and others primarily in the SaaS and technology industries. With this first round of funding, RevenueBase will focus on bringing its advantages to more companies as well as improving the breadth and scale of data provided to current customers through investments in product, sales, and marketing.
“We think the opportunity to be the B2B data refinement layer powering growth-oriented companies is massive,” said Kent Bennett, Partner at Bessemer Venture Partners, “We are impressed with RevenueBase’s early traction and Mark’s and Milenko’s appetite to transform the B2B data industry.”
Additional investors in this seed round included 2 Lanterns, Argon Ventures, Converge, Feldsmith Capital, Good Friends, Graph Ventures, Gutbrain Ventures, KOA Labs, PBJ Capital, and Service Provider Capital. Kent Bennett, Partner at Bessemer Venture Partners, Bob Davoli, Founder and Managing Director of GutBrain and Jude McColgan, former CEO of Localytics, will all join the Board of Directors in an effort to ensure continued growth and reinvestment for RevenueBase.
To learn more about RevenueBase and its offerings in the space, please visit revenuebase.ai.
RevenueBase is a Boston-based SaaS company that provides a cutting edge B2B Revenue Database as a Service to its clients. RevenueBase strives to deeply understand customers’ go-to-market opportunities and then delivers a one-stop, easy to use solution for B2B business leaders that is more complete and more accurate than other providers, allowing users to quickly convert data into revenue growth. For more information, visit www.revenuebase.ai.
About Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 135 IPOs and 200 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio includes Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast and has $9 billion of capital under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Boston, Beijing and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).