Badgeville has announced it has closed a Series C round of venture financing. The round was led by InterWest Partners with participation by prior investors and brings Badgeville’s total financing to $40 million in just 20 months since its launch. As part of this latest round, the company welcomes InterWest General Partner Doug Pepper to its Board of Directors.
Launched in September 2010, Badgeville enables businesses to measure and influence user behavior. As a gamification platform it serves a wide range of industries including technology, retail, healthcare, financial services, hospitality, education and employee performance management.
Badgeville currently has more than 165 customers, including Oracle, EMC, Deloitte, Dell, Samsung, CA, NBC, The Walt Disney Company, Universal Music, Recyclebank, oPower, Fox, Vevo, Barnes & Noble, eBay’s X.commerce, Panera Bread, Rogers Communications, Bell Media, The Active Network, Danone, Ford, along with a Top 3 global technology and a Top 5 financial services company in the world.
Gartner Research estimates more than 70 percent of Global 2000 organizations will have a gamified application by 2015. A separate industry firm, M2 Research, reports the gamification market will reach $2.8 billion in U.S. by 2016.
“Badgeville has rocketed from its company launch and Series A funding all the way to a Series C funding in a mere 20 months, far faster than most SaaS companies,” said Jeff Crowe, General Partner, Norwest Venture Partners, who led Badgeville’s Series B investment and participated in this round. “Investors, ourselves included, are excited about both the large untapped market opportunity and the rapid progress that Kris and team have made in staking out the leadership position in the Behavior Lifecycle Management space.”