SAN FRANCISCO--(BUSINESS WIRE)--Performance Horizon, the global leader in digital partner marketing, today announced it has closed a $15.4 million Series C round. The funding represents new investment from the Greycroft Growth fund and additional investments from existing investors Mithril and DN Capital as well as individual shareholders. The company previously raised $10 million in a Series B round in September 2014.
Performance Horizon enables brands to drive significant online sales with a highly scalable, end-to-end digital marketing partner solution that includes tracking, reporting, global payment capabilities and partner management. The benefits include increased partnership opportunities, the ability to better manage and more closely control digital marketing efforts, and enhanced relationships with the partners driving the most value.
Performance Horizon's platform drives over $3 billion in advertiser top line revenues across 160,000 marketing partners in over 183 countries making payments in over 50 currencies.
Traditionally, the management of digital partnerships by large brands has been farmed out to third-party networks, fragmented across business units and technology platforms, or confined regionally. To solve these problems, Performance Horizon provide brands with centralized and scalable global solutions to manage all of their digital partnerships across the business, enabling customers to be more strategic with a focus on building scale.
“Enterprises are investing heavily in performance marketing technology as a way to efficiently increase their digital sales and maximize their marketing budgets. By leveraging our global technology and services platform, our customers can rapidly build out revenue-generating partnerships around the world,” said Malcolm Cowley, CEO of Performance Horizon. “This financing allows us to invest even faster in this huge market opportunity and execute on the next phase of our vision.”
This year, Performance Horizon added several global 1000 companies in the travel, financial services, and retail verticals to its global customer base, as well as expanded relationships with global digital agencies. The company continues to capture market share across all target markets with its SaaS solutions. This growth reflects how brands are rapidly migrating towards scalable technology to drive maximum growth and ROI for their digital partner marketing programs.
“Managing partnerships on a global scale requires brands to pay their digital marketing partners in their local currencies, and American Express is uniquely positioned to help facilitate that process for Performance Horizon,” said Brett Weinhouse, VP FX International Payments – American Express’ specialist B2B international payments division. “As performance marketing spend increases, we see a huge opportunity for our continued relationship with Performance Horizon.”
“We are excited to support one of the break-out companies from our venture portfolio through the Greycroft Growth fund,” said Ian Sigalow, Partner at Greycroft Partners. “We have seen huge tailwinds behind digital partner marketing in our own portfolio of ecommerce companies as well as within the world’s largest enterprises. In the last five years, Performance Horizon has positioned themselves very well as the only provider that can really serve large, global enterprises through a highly scalable SaaS solution.”
“By removing the opacity around performance-based marketing, Performance Horizon's technology empowers brands and their agencies to engage with their partners with unprecedented granularity and speed,” said Colin Greenspon, Managing Director at Mithril. “Most recently, Performance Horizon has demonstrated its digital marketing superiority by adding customers across all major geographies, including China and Japan. We’re excited to support their continued growth.”
About Performance Horizon
Performance Horizon, the leading provider of SaaS solutions for digital partner marketing, enables brands to directly connect with their marketing partners to dramatically increase customer acquisition and drive high margin revenues from online marketing channels. With offices in the U.S., U.K., Japan and Australia, Performance Horizon's platform drives $3 billion+ in advertiser top line revenues across 160,000 marketing partners in over 183 countries. Performance Horizon is backed by top-tier investors, including Mithril, Greycroft Partners and DN Capital. For more information, visit http://www.performancehorizon.com and follow us @tweetphg.
About Greycroft Partners
Greycroft Partners is a leading venture capital firm focused on investments in the Internet and mobile markets. With offices in the two media capitals of the world - New York and Los Angeles – Greycroft is uniquely positioned to serve entrepreneurs who have chosen us as their partners. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, successfully bring their products to market, and build successful businesses. Greycroft manages $600 million and has made over 100 investments since inception, including leading companies such as AppAnnie, Baublebar, Braintree, Buddy Media, Collective, Extreme Reach, Huffington Post, JW Player, Klout, Maker Studios, Plain Vanilla, Pulse, TheRealReal, Trunk Club and WideOrbit. For more information please visit the Greycroft Partners website at http://www.greycroft.com.