Ifbyphone, a maker of voice marketing software, is announcing that it has raised $30 million in additional funding. It’s also revealing one of the main uses for that money — the acquisition of competitor Mongoose Metrics.
This doubles Ifbyphone’s funding from $30 million to $60 million. The round comes from new investor NewSpring Capital, as well as previous backers Apex Venture Partners, SSM Partners, Origin Ventures, River Cities Capital Funds, i2A Illinois Accelerator Fund, and Spring Mill Venture Partners.
In addition to the acquisition, Ifbyphone says the new funding will be used to further develop its Voice360 platform. The company sells tools for marketers and salespeople to track incoming calls that come from search results and advertising campaign, with the software scoring the calls and routing them to the right people.
When Ifbyphone announced a $9 million Series D at the beginning of this year, CEO Irv Shapiro compared the company to Salesforce, because “we give marketing and sales managers control over voice conversations and the data associated with those conversations.”
The company now says it has almost 5,000 customers.
Mongoose Metrics also offers call tracking products. Ifbyphone isn’t providing the financial terms of the deal, but it says Mongoose’s Cleveland office will remain open, with CEO Brad Reynolds joining Ifbyphone. (He’s been tasked with integrating the two companies.)
In the acquisition release, Shapiro praised Mongoose Metrics’ “impressive technology and third-party integrations,” while Reynolds said the deal will create “a joint organization that is the clear market leader in call tracking.”