2X, a leader in subscription-based marketing as a service (MaaS), announced a strategic secondary investment from Insight Partners, a global software investor. The investment comes less than two years after 2X’s initial backing from Recognize, further validating the company’s approach to transforming how B2B organizations scale their marketing and revenue operations to accelerate sustainable growth.
Insight’s investment reflects confidence in 2X’s tech-enabled subscription-based services model, which enables marketing leaders in today’s resource-constrained environment to achieve greater impact and flexibility while lowering the overall cost of growth. Combined with Recognize’s expertise in next-generation, tech-enabled services businesses, Insight’s renowned software expertise will help create a powerful foundation for 2X’s continued innovation and growth.
“This investment is validation that our marketing-as-a-service model is the solution to the challenges B2B go-to-market leaders face,” said Domenic Colasante, CEO of 2X. “As B2B growth targets become more ambitious while budgets tighten, our solution enables leaders to accomplish more with less—greater impact, reduced costs, and complete flexibility. We’re excited to have Insight on board along with Recognize to help accelerate our mission to transform how B2B organizations scale revenue growth without increasing costs or operational overhead.”
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According to market analysis, the total addressable market for B2B marketing outsourcing, including internal labor, agency services, and technology services, exceeds $100 billion and is expanding at more than 20% annually. With only a small fraction currently being outsourced efficiently, 2X’s scalable MaaS model is well positioned to grow.
“At Recognize, we believe the next generation of service companies is emerging, and 2X is a prime example of that evolution,” said David Wasserman, Managing Partner at Recognize. “Since our initial investment less than two years ago, we’ve enjoyed working with the talented 2X team. We believe the addition of Insight Partners will accelerate Dom’s vision of building the preeminent B2B marketing-as-a-service firm.”
“2X first landed on our radar through their work with Insight’s portfolio companies. We were impressed with their innovative business model and strong product-market fit in solving critical go-to-market challenges for B2B organizations,” said Jeff Horing, Co-Founder and Managing Director at Insight Partners. “We’re excited to partner with 2X to help scale this market to its full potential.”
SOURCE: GlobeNewswire
