Badgeville is on fire
The dedication and hard work is really starting to pay off for Badgeville. The company has just been named the “Most Impactful Company in the Gamification Industry” at GSummit 2012. This is fantastic news for the company following the recent funding announcement. Badgeville has secured another $25 million investment led by InterWest Partners. This is noted as Series C funding and brings the total raised by the company to $40 million. As part of this latest round, InterWest General Partner Doug Pepper is joining Badgeville’s Board of Directors.
Folks, the numbers don’t lie and one metric of interest is that with this funding, Badgeville has become the fastest-growing social SaaS company in history. Badgeville has over 175 customers including Oracle, EMC, Deloitte, NBC, Bell Media, Dell, Panera Bread, CA Technologies, Universal Music, and continues to grow. The latest funding is already being put to use on new products and features to drive customer and employee engagement.
Just yesterday, Badgeville announced Social Mechanics, a revolutionary product which brings real-time, contextual experiences to any website. Badgeville has also recently announced numerous connectors and product integrations to increase adoption of leading enterprise SaaS programs, including Badgeville for Yammer, Badgeville for SharePoint, and Badgeville for IBM Connections.
Badgeville is considered ‘The Behavior Platform and global gamification leader.’ In a recent press release, according to Mr. Pepper, “Badgeville solves an increasingly important business need: helping the enterprise understand and influence user behavior across every digital touch point. By providing a true Platform-as-a-Service solution, the company has quickly become the leader in gamification — and also an unparalleled innovator in how businesses should approach user engagement, employee efficiency and customer loyalty. Badgeville has all the indicators of a successful SaaS company: a highly-sophisticated platform, a world-class management team and a growing market.“
Big money in gamification
The number crunchers that follow this industry (Gartner Research) estimates more than 70 percent of Global 2000 organizations will have a gamified application by 2015. For those that don’t think there is any money in gamification, think again. A separate industry firm, M2 Research, reports the gamification market will reach $2.8 billion in U.S. by 2016.
Badgeville has only been around since September 2010. The company’s clients utilize its cloud-based platform to grow engagement, increasing adoption of their customer- and employee-facing user experiences. This platform infrastructure brings Badgeville’s world-class database into a private, cloud environment, ensuring enterprise-class security and scalability.
Some serious momentum
“Badgeville has rocketed from its company launch and Series A funding all the way to a Series C funding in a mere 20 months, far faster than most SaaS companies,” said Jeff Crowe, General Partner, Norwest Venture Partners, who led Badgeville’s Series B investment and participated in this round. “Investors, ourselves included, are excited about both the large untapped market opportunity and the rapid progress that Kris and team have made in staking out the leadership position in the Behavior Lifecycle Management space.”
“InterWest Partners brings a wealth of experience in high-growth Software-as-a-Service, and we look forward to their strategic assistance in our continued global expansion,” said Kris Duggan, CEO of Badgeville. “Our momentum is a testament not only to explosive market demand for gamification and behavior management solutions, but also to our team, our platform approach that delivers real business results, and, most importantly, to our valued customers and partners who are innovating what it means to be a social business.”
This company has some serious momentum too. Since 2010, the company has grown from 4 employees to over 70. Customers have increased from 15 to 175 and revenues are up 300% year over year. In my opinion, Badgeville is close to if not already a potential takeover candidate. If the company is able to continue this torrid growth pace over the next 18 months, the next round of funding may possibly be an IPO.
Keep your eye on this company and stay with us at Daily Deal Media as we continue to keep you in the gamified loop.