Senior secured term loan is expected to help Bombora expand its leadership position and accelerate the pace of its product roadmap, sales & marketing activities
Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced today the close of a senior secured term loan of $20 million to Bombora, Inc. (“Bombora”), a leading intent data solutions provider for B2B (business to business) marketers. The growth capital will be used to help Bombora capitalize on market opportunities, build stronger partner relationships and accelerate its pace of innovation.
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Bombora’s data aligns marketing and sales teams, enabling them to base their actions on the knowledge of what companies are in-market for which products. Bombora’s data is sourced from the industry’s first co-operative of premium B2B media companies, who provide Bombora with content consumption and behavioral data to foster a better understanding of their audiences, serve advertisers, and monetize their inventory. Using this information, marketers can drive more qualified demand through the funnel, while sales teams can better prioritize accounts and have higher quality conversations. Businesses using Bombora’s intent data have historically generated a 30%-120%+ increase in marketing and engagement, and can often double or triple the return on investment on their sales and marketing investment.
“The B2B intent data market is growing quickly and marketers are seeking better, more efficient ways to identify and engage with in-market prospects,” said Mark Donnelly, Managing Director, Head of Origination at Runway. “We have been impressed with Bombora’s expertise, and its ‘data collective’ approach really stood out to us in the market. This partnership adds to Runway’s already strong history of supporting key players in the data and marketing technology space and we are excited to have Bombora join our portfolio.”
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Runway believes that Bombora’s ability to identify when a business has the intent to purchase based on increased intensity of content consumption compared to normal as measured against a historical baseline fosters efficiencies that B2B marketers desperately need.
“We are diligent about how we utilize capital, and Runway stood out as a partner who was willing to both earn our trust and structure a deal that was best for Bombora,” said Erik Matlick, Founder and CEO, at Bombora. “We were attracted to Runway’s proven history of supporting data and digital marketing companies. They were eager to not only understand our business and the market, but most importantly the fact that our focus is on customers, partners and our employees. Runway appreciates that we are prudent with our capital. We do not have to sacrifice our employees’ equity in order to grow.”
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