Intuit has announced plans to acquire Demandforce, which makes SaaS customer relationship management (CRM) tools that help small businesses engage, attract and retain customers. Demandforce’s SaaS application is used by thousands of small businesses to automate marketing and customer communications, build and maintain an online reputation and raise their profile with local consumers. The agreement is valued at $423.5 million, although it was not disclosed if that is in cash, stock or a combination.
Intuit hopes to expand their SaaS offerings for SMBs via the acquisition of Demandforce, whose products include email, mobile and social tools, such as online reviews, all of which can help SMBs better communicate with their customers and drive higher retention and growth in their businesses. Demandforce has a strong vertical customer base in industries that include automotive, spas and salons, and specialty medical, like dental, optometry and chiropractors.
“Demandforce has a passion for customers, high Net Promoter Scores and strong customer retention,” said Kiran Patel, executive vice president and general manager of Intuit’s Small Business Group. “I’m thrilled to be adding a new business to Intuit’s small business group, especially one with such a strong leadership team, customer-centric mindset and high energy culture. All of this makes Demandforce is a natural fit with Intuit.”
After the acquisition is finalized, expected in May, Demandforce will continue to be led by Rick Berry, Demandforce president and founder, along with the same leadership team that built the company. The team will continue their commitment to delivering overwhelming value to customers.
“We’re so proud of our contributions to small businesses growth,” Berry said. “Joining forces with Intuit will help us to achieve our goal of reaching more small businesses while continuing to provide our customers with more innovation, more connection, and more success.”