Portland Business Journal is reporting that Act-On Software — one of the remaining “before times” software startups — is being acquired for $53 million by Seattle’s Banzai International.
“We are excited by this outcome for one of Portland’s largest VC-backed software companies. Kate and her executive team have done an outstanding job at positioning Act-On as a leading AI-enabled modern marketing automation platform,“ says Diane Fraiman, Managing Director at Voyager Capital and Act-On Board Member. ”Joining forces with Banzai will enable both companies to innovate faster and expand into new markets, increasing value to enterprise customers.”
Act-On is among the high profile companies to come out of Portland’s software boom in the 2010s. It was founded in 2008 and raised $93.5 million from investors, according to Crunchbase, and had been frequently floated as a potential IPO contender.
Fun fact: I often referred to them as one of the most successful startups with a hyphen in their url.
“I am thrilled for Act-On to join the Banzai product family to help drive the vision of AI-powered marketing,” said Kate Johnson, CEO of Act-On Software. “The future of marketing software is about making the marketer’s job easier through seamlessly integrated solutions powered by AI.”
Act-On Software is the easiest-to-use and most intelligent marketing automation platform, powered by AI and supported by an open data architecture. In a world of overly complex marketing suites, Act-On has remained focused on providing marketing software that makes teams more efficient and facilitates effective engagement with customers and prospects across all communication channels. Act-On helps customers such as Hitachi, Best Buy, and Progressive Insurance improve lead generation, increase sales pipeline, automate customer communications, and increase return on marketing investment (ROMI).
For more, read the Act-On press release announcing the acquisition. For the Seattle take on this acquisition, read the GeekWire writeup.
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