In August, we named social infrastructure provider Gigya a Rising Star in our Market Awards issue. Today, we’re pleased to see the company is continuing to live up to its potential.
Earlier today, Gigya announced the closing of a $25 million funding round led by Greenspring Associates with additional support from existing investors including Benchmark Capital, Mayfield Fund, DAG Ventures and Advance Publications and has, with this contribution, raised $70 million in venture funding.
An innovator among social infrastructure providers for businesses, Gigya has made a name for itself by not only developing ways to collect and extract user data from social networks, but also by putting that data directly into the hands of marketers. With more than 600 clients and 1.5 billion unique monthly users, the company has grown 150 percent over the past three years and, in that time, introduced a product nearly every six months, according to Gigya CEO Patrick Salyer.
Last fall, Gigya launched its redesigned user management program, User Management 360. Taking a page from the software-as-a-service playbook, the company unveiled its Registration-as-a-Service (RaaS) platform. Gigya’s RaaS enables businesses to create registration pages with traditional fill-in forms or make use of Social Login without complicated coding and development.
In May, Gigya partnered with Acquity Group to create a cartridge that would help companies improve their customers’ shopping experiences on the Hybris Commerce Suite and smooth the transition from data analysis to marketing by incorporating Social Login. “We’re always looking to simplify things for our clients and get rid of the need for complex coding and technical integration and this, too, was a step in that direction,” Salyer says.
Just days after the partnership announcement, Gigya also revealed a major update to its NEXUS Partner Ecosystem and the addition of 21 social and marketing technology partners, including Marketo, Disqus, and Sailthru.
The new capital will be instrumental in helping Gigya meet increased demand for products like Social Login, Registration-as-a-Service, Identity Storage and the NEXUS Partner Ecosystem and will be used to expand domestic and international sales and marketing teams at the company’s Mountain View headquarters and in new offices throughout the world. The company will also invest heavily in product development in order to continue building products that help businesses connect closer with consumers through permission-based identity data made available through Gigya’s platform.
“Investing in Gigya was an easy decision to make and we jumped at the opportunity,” John Avirett, Partner at Greenspring Associates, said in a statement. “The company’s fundamentals – its products, its leadership, and its sustained growth – have put Gigya on the path to becoming a large independent company with an enormous market footprint.”
“Greenspring Associates has an amazing track record investing in SaaS companies and we’re thrilled to have them as an investor,” Salyer says. “While we’re already 225+ employees and 700 clients strong, the global market is telling us that we need to grow faster to meet demand – and that’s exactly what we’re going to do.”