Edison’s serial success funding CRM and marketing technology leaders, including a deep network of industry contacts will be instrumental in building NetProspex into leading Data as a Service provider.
Lawrenceville, NJ (Vocus) December 9, 2010
Edison Ventures announced $5.5 million investment in NetProspex, headquartered in Waltham, MA. NetProspex provides a sales and marketing database built upon user-contributed business contacts. Proceeds will expand sales, marketing and product development for this growth-stage, web-based data business.
NetProspex helps discover, target and connect with millions of business prospects. The crowd sourced model and trading platform provides contact information, sales intelligence and social media data.
Gary Halliwell, CEO NetProspex, commented, “Edison Ventures brings a proven track record of accelerating growth through strategic guidance and value added services. Edison’s serial success funding CRM and marketing technology leaders, including a deep network of industry contacts will be instrumental in building NetProspex into leading Data as a Service provider.”
“A stellar management team is driving break-out growth in an emerging market,” stated Ryan Ziegler, Principal. “Customers and partners praised data quality and breadth of contacts,” added Tom Vander Schaaff, Vice President, who led Edison’s diligence. David Nevas, Edison Venture Associate assisted with diligence.
Ryan Ziegler and Paul Schmidt, Edison Director Network member, joined NetProspex Board of Directors. Schmidt is SVP Marketing for Edison portfolio company, Tangoe, a leading SaaS provider of global communications lifecycle management.
Edison has invested in 20 revenue generation and interactive marketing related businesses. Active portfolio companies include Cadient, Fishbowl Marketing, Health Market Science, InMagic, Motionsoft, Operative, SonicBids and Verilogue. High return exits include ACT!, Dendrite and Vocus.
Edison’s 25 investments in New England include Andera, Blue Cod, DiagnosisONE, Maptuit, PlumChoice, RewardsNOW, Tangoe and VFA. Successful exits include CambridgeSoft, Marcam, MathSoft, Netegrity, ReTec and Tylink.
About Edison Ventures
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to late stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 10 million. Edison typically serves as the sole or lead investor. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, Needham, MA, New York, NY, and McLean, VA. Industry specialties include interactive marketing, financial technology, healthcare IT application software and communications. Edison’s successes include Axent, E-Transport, Gain Capital, POMS, Princeton Financial, True Commerce, Virtual Edge, Visual Networks and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison Ventures currently manages over $650 million and actively making new investments. http://www.edisonventures.com
NetProspex is the world’s most accurate and fastest-growing sales and marketing database, helping BtoB decision makers find, reach, and connect with nearly 16 million sales prospects in a uniquely direct and measurable way.
Founded in 2006 by online publishing and marketing industry veterans Gary Halliwell and Jeff Clewley, NetProspex understands that effective sales and marketing efforts require the most in-depth and accurate prospect data. With a 100% replacement guarantee and continual data scrubbing, NetProspex is the leading source of accurate, crowd-sourced business intelligence. http://www.netprospex.com
1009 Lenox Drive #4
Lawrenceville, NJ 08648