A Forrester report points out challenges faced by some business-to-business firms working online.
The vendor says it nearly doubled its clients in 2011, which attracted investors.
In 2011, online advertising technology and services company Marin Software Inc. nearly doubled its customer base to 1,500; it also nearly doubled the amount of annual advertising spending managed on its platform to $3.5 billion, the vendor says. Asian investment company Temasek Holdings Ltd. led a $30 million round of funding along with SAP Ventures. Joining the new investors in this round were existing Marin venture investors Benchmark Capital, Crosslink Capital, DAG Ventures and Triangle Peak Partners.
“Temasek brings unrivalled experience and capabilities in Asian and emerging markets, which will benefit Marin’s international development,” says Christopher Lien, founder and CEO of Marin Software. “Support from SAP Ventures and relationships with the SAP global ecosystem will further accelerate Marin's growth around the world.”
To date, Marin Software has raised more than $80 million in venture funding, it says. Marin plans to use the new funds to bolster product development and customer support.
To handle the rapid growth, Marin hired more than 100 new employees in 2011, it says.
The company was founded in 2006 and serves clients in 160 countries, last year opening offices in Singapore, France, Australia and Germany. Clients include Hotels.com, Brookstone Inc. (No. 189 in the Internet Retailer Top 500 Guide, Coupons Inc., iProspect, Razorfish and Macy’s Inc. (No. 17).