Significant investment from Accel leads G2 Crowd to accelerate growth of market leading B2B Review Platform
G2 Crowd, the leading B2B review platform, today announced about closing the $30 million series B funding round, led by Accel with participation from key industry executives, LinkedIn, Pritzker Group Venture Capital and G2 Crowd’s founders. G2 Crowd will use the new funds to accelerate the build-out of its review platform across B2B categories and to further grow its global community of contributors to offer buyers unique insights across tens of thousands of B2B products and related services.
Tim Handorf, co-founder and CEO of G2 Crowd says “B2B buyers are increasingly looking for real-time insights from peers, and we see an incredible opportunity to double down on our innovation and review collation to provide unique buying insights across a broad range of business technology and related services.”
The latest funding for G2 Crowd comes as a result of a phenomenal 2016 fiscal year. The company saw more than 300 percent growth as over 800 technology leaders including Salesforce, Marketo, and IBM has signed on to leverage G2 Crowd’s unique user generated content in their own marketing programs.
“There is a paradigm shift occurring as B2B buyers increasingly behave like consumers, relying on authentic online reviews and social media to make purchase decisions and no other company is better suited to catalyze this market opportunity than G2 Crowd,” said Accel Partner, Arun Mathew.
User-Generated Content at G2 Crowd Influences CMO make a Better Choice
To date, G2 Crowd has amassed more than 170,000 verified user reviews of business software and solutions, which are freely available to nearly one million site visitors each month. Over 230,000 business professionals have signed up to share their expertise and write reviews or participate in the conversation.
Currently, G2 Crowd includes more than 25,000 products, in more than 800 business solution categories. The 2016 fiscal year saw more than 300 percent growth for the company as over 800 technology leaders including Salesforce, Marketo, and IBM have signed on to leverage G2 Crowd’s unique user generated content in their own marketing programs.
Arun adds, “Accel has a long history of investing in market leading companies like Facebook, Dropbox, Slack, and Atlassian, and G2 Crowd is no exception. The company’s rapid growth and customer buy-in from leading tech innovators lend an extremely influential voice to the industry.”
Tim adds, “Our team will remain committed to focusing on putting the buyer first by delivering the highest level of trust and transparency for business buyers.”
G2 Crowd’s early efforts have defined a new industry. This new investment and initiative will help the company to expand on its current work, bringing its resources to new areas of the business marketplace and creating more transparency to the business solutions buying process.
MarTech Leaders Applaud G2 Crowd for Customer Centricity
Kevin Eagan, Chief Digital Experience Officer at IBM says, “G2 Crowd is an important partner in expanding online advocacy for IBM. The user review platform is giving us new ways to connect to our customers, hear their feedback about our products and services, and strengthen our culture of customer centricity.”
“Terminus is a pioneer and defining technology platform of the recently emerged account-based marketing category. As a disruptive software company, we do not fit the standard category definitions of traditional analyst firms. G2 Crowd recognizes that an evolving technology is not built around a definition, it is built around the needs of buyers and business. They work with our team to understand the industry need and create a resource where buyers can learn more about how account-based marketing software might benefit their business.” Eric Spett, CEO, Terminus.
Karen Steele, Group Vice President of Corporate Marketing at Marketo holds G2 Crowd at high esteem. She says, “The reviews and rankings and, ultimately, the research that comes out of all the data we get from G2 Crowd fuel our content pipeline throughout the year.”
Steele adds, “It’s an incredibly powerful competitive intelligence tool for us—to understand what our customers think about the industry, Marketo, and other solutions in the space. Furthermore, we get powerful, real-time feedback about how our customers feel about doing business with Marketo.”
Encouraging Signs as B2B Software Reviewer: $45.77 Million Raised in 4 Years
Co-founded by Godard Abel, CEO at SteelBrick (acquired by Salesforce), Mike Wheeler (Co-founder Engineering), Mark Myers, Matt Gorniak and Tim Handorf, G2 Crowd is backed by more than $45.77 Million in capital. This capital includes the latest funding round as well, in addition to four previous ones. The last funding round was announced in December 2016.
Taking its monumental growth to a new height, G2 Crowd aims at bringing authenticity and transparency to the business marketplace. Bravo, G2 Crowd.