Leadspace secures $5 million credit facility from Espresso Capital
San Francisco — September 5, 2019 —Espresso Capital announced today that it has provided San Francisco-based Leadspace, a leading customer data platform for B2B sales and marketing, with a $5 million credit facility. The company, which was founded in Israel in 2011, will use the capital to help fuel growth in a rapidly accelerating category.
“We’re at the forefront of a major technological shift as companies go from relying on systems of engagement to embracing systems of intelligence,” says Leadspace CEO Doug Bewsher. “We’ve built what we believe is the best customer data platform on the market and are now looking to take advantage of our unique position to accelerate our growth.”
Leadspace will use the credit facility from Espresso to invest in its sales, marketing, and customer success teams. It’s also staying open to potentially expand its footprint with strategic acquisitions. In June 2019, for example, the company bought ReachForce to further enhance how the business powers customers’ data-driven sales and marketing efforts. Going forward, it will consider international opportunities as well.
“Espresso has been an excellent partner,” says Bewsher, who prior to joining Leadspace was Salesforce’s chief marketing officer. “They’re fast, efficient, and most important of all, flexible. Our Israeli roots add complexities to deals, meaning that that most banks simply aren’t equipped to handle them. But Espresso was different. They were ready to work with us to find a solution that met our needs.”
Bewsher anticipates Leadspace becoming the dominant B2B customer data platform over the next 24 months. To do so, the company will build out its already impressive customer base, which currently includes Fortune 500 companies such as IBM, Microsoft, Intel, and SAP. It’s also actively working to serve growing interest from new verticals, including retail and financial services.
“Leadspace is transforming how companies approach sales and marketing,” says Espresso Director Jean-Michel Domard. “They’re using machine learning, artificial intelligence, and analytics to help their customers drive pipeline and get results. While they have already experienced tremendous growth, our credit facility gives them the working capital and flexibility they need to scale the business even further.”
About Espresso Capital
Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 270 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at www.espressocapital.com.
Leadspace helps companies take back control of their marketing and sales data with its leading intelligent B2B Customer Data Platform. It helps them get healthy with advanced tools for enriching and updating all their data with the most rich and open B2B data graph in the industry. Next, it helps them get smart using sophisticated AI to unlock the insights and opportunities buried deep inside customers’ data. Then, it helps them get busy by activating the enhanced data, in real-time, across sales and marketing systems. All of this enables more effective and high-performing inbound, outbound, and ABM efforts that drive revenue. Learn more at leadspace.com
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