Badgeville has announced that they have received $25 million in series C funding, led by InterWest Partners. The gamification and behavioral based marketing firm is looking to tap into the increasing market of gamification; 70 percent of the top 2000 global companies are engaging in gamification marketing techniques and researchers believe that the market could top $2.8 billion by 2016.
“Badgeville solves an increasingly important business need: helping the enterprise understand and influence user behavior across every digital touch point. By providing a true Platform-as-a-Service solution, the company has quickly become the leader in gamification — and also an unparalleled innovator in how businesses should approach user engagement, employee efficiency and customer loyalty,” said InterWest general partner Doug Pepper, who has been named to the Badgeville Board of Directors. “Badgeville has all the indicators of a successful SaaS company: a highly-sophisticated platform, a world-class management team and a growing market.”
“Badgeville has rocketed from its company launch and Series A funding all the way to a Series C funding in a mere 20 months, far faster than most SaaS companies,” said Jeff Crowe, General Partner, Norwest Venture Partners, who led Badgeville’s Series B investment and participated in this round. “Investors, ourselves included, are excited about both the large untapped market opportunity and the rapid progress that [CEO] Kris [Duggan] and team have made in staking out the leadership position in the Behavior Lifecycle Management space.”