Act-On Software CEO resigning


The founder of one of the leading candidates for an IPO from Portland steps down.

Share this article!

BY JACOB PALMER | DIGITAL NEWS EDITOR

The founder of one of the leading candidates for an IPO from Portland steps down.

However,  it appears Raghu Raghavan is not entirely done with Act-On Software.

“I am not going anywhere just yet, I plan to  remain active in the company,” Raghavan said in an email from Bangalore, India, where he was visiting Act-On offices. He said the company has chosen his successor but will hold the announcement until he returns to Oregon next week.

Act-On has been among the state’s most promising young technology companies. It makes marketing automation software for small and midsized businesses to track sales leads and clients.

The privately held company reported $30 million in revenue last year and had been forecasting growth between 60 and 70 percent in 2015.

(SOURCE: OregonLive.com)

The tech company has been one of the hottest in the Portland area over the last few years.

Last year, the company secured $42 million from investors. To date, the company has raised $74 million from investors such as Technology Crossover Ventures, Norwest Venture Partners, Trinity Ventures, US Venture Partners and Voyager Capital.

The company saw $32.3 million in revenue in 2014, up from $19.4 million the year before. It ranked No. 20 on the Portland Business Journal’s list of the 100 fastest-growing private companies this year.

(SOURCE: Portland Business Journal)

RELATED NEWS: 5 ways successful people kickstart the dayOregon venture capital picks upA healthy forestAct-On Software lands $42M

 


Published in Categories News