On the 16th of June 2020, Demandbase announced the acquisition of Engagio to promote coalition, Precision, and clarity in the B2B marketplace.
The prime focus of both companies is account-based marketing (ABM). ABM is a marketing approach wherein the focus of marketers is one a few high-value customers and marketing and sales teams put in integrated endeavors to drive engagement with the high-value accounts and convert them into the sales prospects.
Jon Miller, Founder, and CEO of Engagio explained that Demandbase and Engagio have 30 shared customers and therefore, the acquisition shouldn't come as a surprise.
He, however, joked saying that the people who aren't very familiar with the ABM whereabouts and market trends could easily consider the two companies to be competitors.
Gabe Rogol, CEO of Demandbase, stated that the two companies "very much had a complementary partner strategy with each other."
Rogol also added that the strength of Demandbase lies in letting marketers benefit from third-party data, whereas Engagio could only provide customers with their own first-party data.
The financial terms of the deal are yet to be disclosed.
According to Crunchbase, Engagio had previously raised $32.5 million while Demandbase had raised $158 billion.
Following the acquisition, Jon Miller will become the chief product officer at Demandbase, whereas his co-founder Brian Babcock will be ranked as the chief technology officer.
According to Rogol bringing the two teams together during the pandemic will bring an incredible change to the company's culture.
He also added that the unification of the two companies and the technology will be “our strategic initiative for the second half of the year.”
Miller added that the pandemic hasn't eliminated the need for the services being offered by Demandbase and Engagio. He explained that ABM is a priority strategy during the current pandemic situation. He added that ABM should be a priority during the current pandemic crisis, as it helps marketers in bolstering their revenue goals.
According to Rogol, the unification of the two companies will bridge the gap in a fragmented ABM market to surface more clarity.
Rogol, meanwhile, enlightened that Demandbase had "crushed" it's advertising targets for the first quarter.
Demandbase helps B2B companies optimize their ABM strategies and marketing performance. The company was founded in the year 2006 and is headquartered in San Francisco, CA with specialties in marketing, account-based marketing, B2B marketing, B2B sales, company-targeted advertising, web analytics, web optimization, targeting, personalization, web personalization, account-based advertising, display advertising, and B2B programmatic advertising. Demandbase is the only end-to-end ABM platform that helps B2B companies identify, win, and grow their high-value accounts.
Engagio helps B2B companies in scaling-up their account-based marketing strategies. Its B2B Marketing Engagement software helps more than 240 companies to combine the best of their lead-based marketing and account-based marketing (ABM) endeavors and simultaneously empowers their marketers and sellers to contribute as a team. The company is headquartered in San Mateo and specializes in Account-Based Marketing, account-based sales development, account-based marketing, demand generation, and B2B marketing.