Social Data Management Startup Gigya Raises $25 Million
The round was led by Greenspring Associates, with participation from existing investors Benchmark Capital, Mayfield Fund, DAG Ventures and Advance Publications, bringing the total raised to $70 million.
In an interview, Gigya CEO Patrick Salyer said the new round would be used for aggressive hiring — including a large increase in the company’s salesforce — aiming to grow to more than 300 employees by 2014. The funding will also be used on infrastructure and scaling, as the Mountain View, Calif.-based company plans to open up more offices in the coming year.
Greenspring Associates, Salyer points out, was the largest single shareholder of digital marketing startup ExactTarget before its acquisition by Salesforce for $2.5 billion in June. Greenspring will not take a board seat, but will participate as a board observer, according to Salyer.