ZenIQ, an account-based marketing (ABM) orchestration solution, has raised $4.6 million in funding from Costanoa Ventures and Salesforce Ventures. The company plans to use the investment to expand on their ABM offerings.
ZenIQ uses data science and artificial intelligence to combine account data, recommend best actions and automate tasks and programs most likely to drive account engagement. Current customers include Ayla Networks, CallidusCoud and Infoblox.
“We started to see this proliferation of tools and data sets, and none of them were really talking to each other,” said Matt Garratt, VP of Salesforce Ventures and Corporate Development at Salesforce, in a statement. “What we’ve really been looking for—and the way we’ve thought about this space in general—is how to get a lot of these enterprise applications working where you get workflows that connect one to the other to gain a unified view of the customer and a unified data set. What we thought was very interesting and compelling when we decided to invest in ZenIQ was that they flipped that whole paradigm. They said users can aggregate the data sets they’re using and [ZenIQ] can flow that into whatever tools they’re using today.”
“Costanoa is no stranger to account-based marketing with investments in ABM names such as Demandbase,” stated Greg Sands, Founder and Managing Partner, Costanoa Ventures, in a statement. “This investment in ZenIQ comes at a time when marketers are looking for direction on where to place their bets in account-based marketing technologies.”