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CRM Vendor ReachForce Secures Additional Debt Financing
 TMCnet Contributing Editor
ReachForce, Inc. a vendor of OnDemand Data Services, has announced that it has secured $1 million in debt financing from Silicon Valley Bank in addition to its $3.2 million in Series A funding from G-51 Capital and private individuals.
The vendor, launched in October 2005, will use the additional capital to "fuel accelerated customer acquisition, new product development and technology initiatives," according to company officials.
ReachForce sells OnDemand Data Services for CRM -- customers of companies such as salesforce.com, Siebel/Oracle ( News - Alert) CRM, MicrosoftCRM, and others.
In conjunction with the funding, ReachForce has also added two new members to its Board of Directors -- Theresa Garza, Venture Partner with G-51, and Lauranne Jarrett, Partner with G-51.
Last week ReachForce announced ReachForce Convert, a service designed to help marketers "convert passive Web site visitors into actionable marketing leads," company officials say:
"ReachForce Convert allows marketers to turn typical Web site analytics into a source for actionable leads, both from pay-per-click and organic search, and use a role-based contact discovery methodology."
As the majority of Web site traffic is generated by pay-per-click initiatives such as Google ( News - Alert) AdWords campaigns, B2B marketing and sales professionals are not able to convert most of this traffic into "registered" leads, increasing the costs per lead.
Studies cited by ReachForce show that less than three percent of a company's Web traffic is converted into real leads, yet SEM is expected to reach $9 billion in 2007. In the B2B space, the initial "lead" is often not the decision maker with purchasing authority.
In March ReachForce announced the certification of ReachForce Data Services for Demand Generation for salesforce.com's AppExchange.
The product "enhances" existing CRM data in salesforce or discovers new role-based data, according to ReachForce officials.
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