Bizo, the San Francisco-based business audience marketing company, says it ended 2012 with more than $22 million in revenue and a $30 million run rate.
The company, which specializes in helping B2B marketers reach business professionals, signed a number of big accounts to back that figure up, including General Electric, Nissan, Wells Fargo, General Motors and SAP. (Disclosure: The publisher of ZDNet, CBS Interactive, also competes for these advertisers.) The company increased its headcount to 80 people as a result, spread across its offices in San Francisco, Boston and New York.
The company continues to walk the line between serving marketers and publishers. In 2012, Bizo signed deals with NBCUniversal, Conde Nast, Fox News and the Financial Times, among others. It has also integrated with data management and demand-side platforms such as Adobe or Google BidManager, as well as social networks such as LinkedIn, Facebook and Twitter. The idea: boost B2B distribution at the end of the pipeline while selling to big brands -- American Express, Mercedes Benz, Salesforce.com, Microsoft -- at the beginning of it.
It is unclear how sustainable this plan is in the long-term, since the aforementioned institutions -- publishers, social networks -- are all competing for the same customers, both audience and advertisers. For now, Bizo seems to be providing value for companies who have a vested interest in a B2B audience but do not have the technology to target this audience with as much sophistication. (Bizo provides social ad targeting, display ad retargeting, company targeting and CRM targeting, among other things.)
But the money is there: the company last year closed a $10 million funding round that included Crosslink Capital, Bessemer Venture Partners and Venrock. "We plan to keep our foot on the gas in 2013," chief executive Russell Glass said.