Austin, TX (PRWEB) June 11, 2007 -- ReachForce, Inc. a worldwide provider of OnDemand Data Services, announced today that it has secured a $1M in debt financing from Silicon Valley Bank in addition to its $3.2 million in Series A funding from G-51 Capital and private individuals. ReachForce, launched in October 2005, will use the additional capital to fuel accelerated customer acquisition, new product development and technology initiatives.
ReachForce delivers OnDemand Data Services for CRM (customers of companies such as salesforce.com, Siebel/Oracle CRM, MicrosoftCRM, and others) - ReachForce's revolutionary approach increases demand generation effectiveness and accelerates sales cycles. ReachForce's customers have increased results by 20 to 30 times for every dollar spent on marketing and sales initiatives - maximizing the value of marketing.
"ReachForce is an exemplary company and its business model fits perfectly into SVB Silicon Valley Bank's mission to support rapidly growing technology companies," said Doug Mangum, Managing Director at SVB Silicon Valley Bank. "ReachForce's management team is successfully delivering real solutions that solve a problem that has plagued companies for decades. Their proven track record in the market showcases their readiness to take their business to the next level."
In conjunction with the funding, ReachForce has also added two new members to its Board of Directors. Theresa Garza, Venture Partner with G-51, has joined the board along with Lauranne Jarrett, Partner with G-51. The expertise and experience of these new board members will further ReachForce in taking aggressive steps forward to significantly expand the company's market position, customer footprint and revenue opportunities.
"ReachForce has shown exceptional execution in its business and the team has quickly taken the company from an early-stage start-up to a high-growth company," said Rudy Garza, founder and managing general partner of G-51. "As ReachForce enters the next phase of its business, we are confident the company has the right strategy and team in place to take the company to the next level."
In the past year, ReachForce has grown its workforce by more than 300 percent. Accordingly, ReachForce has re-located to new, larger headquarters in North Austin at 8303 N. Mopac, Building A, Suite 310, to accommodate its rapid growth and future expansion.
"Our investor partners recognize the huge market opportunity of solving an age old data problem thereby increasing demand generation effectiveness and speeding sales cycles for customers through the delivery targeted of high quality data," said Suaad Sait, ReachForce's CEO. "This continued financial commitment clearly validates the strength of the ReachForce team and market opportunity, and will help accelerate our expansion plans and leadership position."
ReachForce solutions are designed to help plan, implement and measure business-to-business sales and marketing programs and customer acquisition/retention initiatives. Recently certified by salesforce.com, ReachForce's data services serve a critical need for mid-market businesses, driving deliberate marketing practices for sales and marketing teams through the company's innovative formula in accurately targeting:
• The right businesses - Based on corporate strategy to focus on specific segments of the market sectors (segment, industry, size, geography, etc.), as well as analysis of opportunities and wins to determine demographics of top purchasing sectors;
• The right roles - Based on profiling contacts to understand the roles (not titles) of the decision-maker, influencer and economic buyer;
• And, at the right economics - With the ReachForce data and workflow engine using internal and third party data to deliver significantly higher quality at a lower cost and faster velocity.
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