Following news of its purchase of data-gathering firm Motley Bunch, email analytics provider Return Path has announced a huge taking of private equity.
An investment group led by Vista Equity Partners has committed $35 million to helping the New York-based firm extend its capabilities in the sales and marketing arena.
Over 2,500 brands use Return Path’s products to gain valuable consumer insights off the back of their email activity. This includes information on customer buying behaviour which in turn helps establish marketing ROI.
The buyout of Motley Bunch signals that investments are currently being ploughed into the data-gathering side of the business, while Return Path has recently been granted a patent for a system which establishes when messages arrive in the user’s inbox.
Now looking to build on and enhance the existing product line-up, Return Path has received vital investment to push on with its plans for growth.
Boardroom addition
Terms listed under the $35 million cash injection state that Patrick Severson, a principal with Vista Equity Partners, will take up a position on Return Path’s Board of Directors.
Severson described software, data and tech investment specialist Vista and Return Path as an ideal fit, while Return Path CEO Matt Blumberg said he was “grateful” to find an investment group with a proven track record in B2B data.
Speaking in light of the funding round’s conclusion, Severson said: “Return Path is a premium business with a strong management team, unrivaled network of email data, clear ROI for enterprise marketing and security departments, and a large and rapidly growing market opportunity.
“This is a truly unique company with great products that aligns perfectly with Vista’s strength.”