Two decades ago, a spunky little start-up called Netflix indirectly gave a big boost to marketing technology.
“This tiny company was spending more than half of its engineering dollars building its own tools in-house for marketing automation,” recalled Ashu Garg, general partner at San Francisco, Calif.-based Foundation Capital, an early Netflix investor. “We thought that made no sense. Since most companies can’t afford to spend that much money on engineering tools, we thought ‘why don’t we invest on companies that do this?'”
About a dozen marketing technology investments later, Foundation Capital is very much invested in the MarTech space.
And it’s a space the VC firm predicts will undergoing “radical transformation.” In 10 years, in fact, it predicts it will be worth $120 billion yearly.
