Sales and marketing are often considered a single category on a business plan, but ironically, when it comes to building apps and services to help with them, they usually become separate entities, and so too do the teams that address sales and marketing in organizations. Today, however, a startup called Terminus -- which is building a platform that views sales and marketing in a more integrated way, through account-based marketing -- is announcing funding and growth, a sign of how its approach is gaining more traction.
The startup has closed a Series C of $90 million, at a valuation we understand from sources to be around $400 million. This is a huge jump on Terminus's valuation in its last round, which was $96 million post-money in 2018, according to PitchBook data.
Part of the reason for the hike is likely because of the huge focus that digital marketing has had especially in the last year -- a time when, because of the pandemic, a lot of more legacy and traditional channels have ceased to be as visible). Account-based marketing alone was estimated, in 2018, to be a $458 billion market opportunity.
Another reason for interest in Terminus specifically is because of its customer record within that. It has around 1,000 enterprise customers, including divisions of IBM, Salesforce, Thomson Reuters, and more.
"We’re building the new marketing automation," said CEO Tim Kopp in an interview. "We think account-based marketing is the most important thing to have happened in sales software. Teams are switching from lead-based to account-based approaches, and we've now moved into addressing all points of engagement, a modern B2B marketing cloud."