Act-On Software Scores $4M from Voyager, USVP

Act-On Software, an online marketing startup based in Beaverton, OR, has raised $4 million in Series B venture financing, co-led by Seattle-based Voyager Capital and Silicon Valley-based U.S. Venture Partners.

The startup makes marketing and sales automation software (across Web, e-mail, and social media) for businesses. This is a fast-growing and competitive field. Act-On’s customers include IBM, Cisco Systems, and Progressive Insurance. I heard about the news independently, but Mike Rogoway of The Oregonian has more details and context here.

The company is led by founder and CEO Raghu Raghavan, who was previously chief technology officer and co-founder of digital marketing firm Responsys. Act-On previously raised about $2 million in a Series A round from Cisco in early 2008.

Act-On’s software is “a total business disruption to the current market leaders who offer complex enterprise solutions,” says Diane Fraiman, a venture partner with Voyager Capital, who is based in Portland.

Author: Gregory T. Huang

Greg is a veteran journalist who has covered a wide range of science, technology, and business. As former editor in chief, he overaw daily news, features, and events across Xconomy's national network. Before joining Xconomy, he was a features editor at New Scientist magazine, where he edited and wrote articles on physics, technology, and neuroscience. Previously he was senior writer at Technology Review, where he reported on emerging technologies, R&D, and advances in computing, robotics, and applied physics. His writing has also appeared in Wired, Nature, and The Atlantic Monthly’s website. He was named a New York Times professional fellow in 2003. Greg is the co-author of Guanxi (Simon & Schuster, 2006), about Microsoft in China and the global competition for talent and technology. Before becoming a journalist, he did research at MIT’s Artificial Intelligence Lab. He has published 20 papers in scientific journals and conferences and spoken on innovation at Adobe, Amazon, eBay, Google, HP, Microsoft, Yahoo, and other organizations. He has a Master’s and Ph.D. in electrical engineering and computer science from MIT, and a B.S. in electrical engineering from the University of Illinois, Urbana-Champaign.