Marketing software startup IntelligenceBank nabs $50 million from Five Elms Capital

Melbourne marketing startup IntelligenceBank has landed a US$37 million (A$50m) from US B2B investor Five Elms Capital.   

The marketing operations software platform has earmarked the funds to accelerate growth and scale its system, which converts manual processes to digital to improve marketing efficiency, increase speed to market, and minimise marketing compliance risks.

IntelligenceBank helps marketing teams manage digital assets, creative content approvals, compliance, and creative project management. It is used by more than 400 brands with 250,000-plus users in 55 countries. The venture has offices in the US, Canada and Australia.

The business counts Hertz, NAB, Bupa, the Queensland Government, Isuzu, Kubota, and RACQ among its clients.

CEO and founder, Tessa Court, said the new funding will help them move faster and leverage global market opportunities.

“We are looking forward to working with the Five Elms team to accelerate our growth during a time when marketing departments are undergoing massive digital transformations,” she said.

“There is a growing need for IntelligenceBank’s marketing system of record to better manage content, deliver go to market efficiencies, and streamline approvals as well as brand and regulatory compliance.

Court said the Five Elms investment will fortify its market leadership position, and to accelerate the company’s product roadmap, which includes initiatives such as next-gen AI, flexible integrations and powerful content governance and compliance features.

Five Elms Capital managing director Joe Onofrio said the firm decided to back IntelligenceBank because it believes the Australian startup has a best-in-class platform that solves a massive problem for marketing organisations.

“We have gotten to know Tessa and her team over the last four years, and during that time they have efficiently executed on their plan to build a world-class organisation helping clients access, manage, deploy, and control their digital assets at scale. IntelligenceBank has an evangelical customer base across numerous industries and continents,” he said.

“The company’s platform is leading the way as organisations manage digital transitions and increases in remote workforces.”