Zift Solutions, a RTP-based startup focusing on channel marketing automation software, disclosed an acquisition last week and on Wednesday added more growth news: $14 million in new financing.
Among the backers is Silicon Valley-based Arrowroot Capital.
“In keeping with our commitment to invest in forward-thinking software-as-a-service and internet-based companies on the leading edge of innovation, we are excited about the opportunity to empower additional growth opportunities for Zift Solutions,” said Matthew Safaii, Managing Partner of Arrowroot Capital, in the announcement.
SSM Partners also is a new investor.
Previous backers including Southern Capitol Ventures in Raleigh and Teakwood Capital also participated in the round.
“Zift is growing fast and always seeking new opportunities to deepen our capabilities, better serve our customer base and enhance our channel marketing and management platform,” said Ken Romley, CEO of Zift Solutions, in announcing the funding. “This round of funding positions us to move forward confidently as we continue to expand our global reach, invest in innovation and further develop the Zift platform.”
The funding helped Zift acquire SharedVue, a division of Massachusetts-based The Channel Company, last week. Channel also took a minority stake in Zift, Romley told WRAL TechWire in an interview.
With the new funding, Zift plans to expand its work force and also seek to grow what it calls “the most experienced and largest Channel Marketing Automation platform provider.”
Zift’s technology enables business-to-business transactions.
A year ago, Zift acquired Marketing Advocate.
Zift now reaches more than 140 countries.
