NetProspex announced yesterday it received $7 million in Series B funding, led by information technology investment firm Edison Ventures, which had already invested $8.8 million in the company over the course of two rounds.
NetProspex reported it will use the funds to increase sales, accelerate channel partner integrations and support innovative product development.
“This investment supports aggressive expansion toward category leadership in cloud-based data services,” said Gary Halliwell, NetProspex CEO. “Bad data costs marketers significant missed revenue opportunity and costs hundreds of dollars per record to fix. Chief marketing officers need to get a grip on data hygiene, which is at the heart of what we’re doing. We are thrilled to have the power of Edison’s network and operational insight as we continue to grow and address these issues.”