Montana-based digital marketing company PFL, which recently opened an Indianapolis headquarters, has announced a $25 million investment from a division of The Goldman Sachs Group Inc. (NYSE: GS). The company says the funding will support research and development and sales team growth for its TMA platform.
Last month, PFL opened its "HQ East" in downtown Indianapolis. At the time, the company said it would benefit from being in the Eastern Time Zone and operating "in a thriving (tech) hub that’s separate from Silicon Valley."
PFL launched in 1996 as PrintForLess, later expanding into marketing automation and customer relationship management technology. The TMA platform aims to boost sales and marketing effectiveness through direct and dimensional mail. PFL says its MarTech business has more than doubled its revenues within the last year.
The investment comes from Goldman Sachs Growth Equity, which is part of Goldman Sachs’ Merchant Banking Division. As part of the deal, Mark Midle and John Giannuzzi from GS Growth will join PFL’s board of directors.