I deeply believe the solutions PathFactory is building are among the most transformative and important in the digital marketing space today. As CEO, it’s incredibly rewarding when it becomes clear how strongly others believe this too.
Today is one of those rewarding days. I’m excited to announce that PathFactory has raised $11M in Series B growth funding. This round of funding was led by Edison Partners, with participation from Hyde Park Venture Partners and Huff Capital Inc.
We’re thrilled to continue our partnerships with Edison, Hyde Park, and Huff Capital, who participated in our Series A a little over a year ago. We truly value the relationships we have with the people at these firms and we’re grateful for the full range of value they bring to our business.
I’m exceptionally proud of the PathFactory team for all of the hard work that has helped us get here. Over the last 18 months, we increased our annual recurring revenue by 3X. We have boosted the value of the PathFactory Intelligent Content Platform with significant enhancements to our core offering (Target), which include last year’s launch of the industry’s first AI-powered content experiences (Recommend) and Explore, our newest product that helps marketers create personalized content destinations. As a result of these enhancements, our customers now have access to new insights that allow them to generate huge returns in funnel speed, productivity and most importantly, revenue! We are also very honored that our customers named PathFactory a High Performer in the Summer 2017 G2Crowd Grid for Enterprise Content Marketing.
We celebrate these wins as a team and look forward to the road ahead. This Series B funding will help us maintain an even greater focus on value, continue to grow our team with the industry’s finest people (yes, we’re hiring!) and serve the world’s best marketers as they strive to break free from status quo results. We plan to expand the PathFactory team to at least 100 people across both Canada and the U.S. by end of year. We will also uphold the level of customer service and the pace of product innovation that our customers have come to expect. Stay tuned for further announcements about that later this year.
We believe that great marketing is at the heart of great companies. Marketers should have the power to generate transformative outcomes for their businesses, their audiences, and themselves. The rapid success our customers see is proof that B2B marketers should rightfully challenge the current status quo and expect to achieve more. They need a smarter way to serve their audience’s interests, and clear, truthful insights that drive marketing decisions. The time has come for marketers to become the heroes.
Lastly and most importantly, on behalf of the entire PathFactory team, I would like to thank our customers for the inspiring work they do using intelligent content that’s transforming their marketing outcomes. Without your vision, strategy, feedback, and advocacy, we would not be making this announcement today.