Tenon, Built on ServiceNow, Announces $8M Series A Funding to Propel Growth and Innovation for Marketers

Tenon, an innovative marketing solution built on ServiceNow, has secured an $8 million Series A investment, co-led by High Alpha and StepStone Group, with continued investment from ServiceNow Ventures.

5.21.2024
Article by
High Alpha

Indianapolis, Indiana – May 21st, 2024 – Tenon, an innovative marketing solution built on ServiceNow, has secured an $8 million Series A investment, co-led by High Alpha and StepStone Group, with continued investment from ServiceNow Ventures. The funding will support the expansion of the Tenon team and accelerate the company’s product roadmap, expanding from marketing work management into marketing automation to unify the complete marketing lifecycle. 

Crafting the Future of End-to-End Marketing Excellence

Tenon has developed a solution at the forefront of marketing innovation that streamlines marketing work across the enterprise. Designed specifically with enterprise marketers in mind, Tenon simplifies marketing work and project planning with pre-built templates, agile marketing capabilities, goal setting, and collaboration features to maintain team alignment and amplify marketing outcomes. 

With this investment and innovative approach, Tenon will connect the entire lifecycle of marketing initiatives. By bringing project management together with campaign execution through the addition of marketing automation, Tenon provides an all-in-one solution to help marketers drive their company initiatives forward. 

"Despite having so many tools at their fingertips, marketers are underserved with solutions that can connect and streamline their work from a single platform," noted Tenon co-founder and CEO, Ben Person. "This funding will allow the Tenon team to combine marketing work management with marketing automation to unlock unprecedented efficiency gains for enterprise marketing teams.”

Launched in April 2023 out of venture studio High Alpha, Tenon has emerged as a top choice for marketing teams in leading enterprises, bolstered by its marketing work capabilities, configurability, and integrations with the rest of the sales and marketing technology stack. With this substantial $8 million investment, Tenon is poised to embark on an ambitious trajectory of growth, expanding from 10 employees to 26 to accelerate product development. 

“This funding serves as a timely catalyst for Tenon to further enhance its enterprise marketing functionality, especially for teams dealing with complex marketing processes and compliance needs in sectors like life sciences, insurance, healthcare, and finance,” said High Alpha partner, Mike Fitzgerald. “We are thrilled to contribute to Tenon’s expansion and proud to continue our support as they redefine how enterprise marketers work.”

A Unified Vision for Enterprise-wide Marketing Efficiency

ServiceNow helps organizations streamline and automate work across front-, middle- and back-office teams to speed up issue resolution and drive efficiency throughout the lead-to-cash, installation, and service lifecycles. Tenon will integrate with the ServiceNow Sales and Order Management solution and serve as a connection point between sales and marketing, providing a unified platform for cross-functional collaboration. This, coupled with Tenon’s full-cycle marketing capabilities, will empower enterprise teams to foster seamless processes, share insights, and optimize efficiency across the customer journey.

"We’re proud to play a part in Tenon’s continued growth and share in their mission to drive innovation and productivity throughout the marketing lifecycle. The Tenon solution, which is built on the Now Platform, and future integration with ServiceNow Sales and Order Management, marks a pivotal moment for marketing and sales collaboration,” said Michael Ramsey, GVP, product management for Customer Workflows, ServiceNow. “By streamlining processes and facilitating cross-department communication on a single, AI-powered platform, businesses can unlock new opportunities for growth and collaboration and significantly improve the way marketing teams work.”

Tenon has collaborated with ServiceNow's Partner Solutions Center of Excellence to support the development of their Built on ServiceNow solution. This, combined with this phase of strategic backing, underscores a complementary vision for the evolution of the marketing landscape, underscoring confidence in Tenon's trajectory and its potential to reshape how enterprise teams work together.

"Tenon has cultivated a robust community around marketing excellence in a short time with new use cases shared every day. The company is well-positioned to transform the way enterprise marketing teams plan, collaborate, and launch impactful campaigns,” says Hunter Somerville, Partner at StepStone Group. "We look forward to partnering with the Tenon team as they continue to grow and expand their vision for the future of enterprise marketing."

Sign up at the Tenon Workshop to stay current with Tenon’s upcoming innovations in enterprise enablement and marketing automation. 

For additional information on how Tenon is revolutionizing enterprise marketers' collaboration and creation, please visit www.tenonhq.com.

About StepStone Group 

StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory, data, and administrative services to its clients. As of December 31, 2023, StepStone was responsible for approximately $659 billion of total capital, including $149 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds, and insurance companies, as well as prominent endowments, foundations, family offices, and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private market portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt, and real estate asset classes.

About High Alpha

Based in Indianapolis, High Alpha creates, launches, scales and invests in exceptional enterprise SaaS companies across North America. The High Alpha portfolio of over 90 companies includes leading SaaS companies like Logik.io, Attentive, Authenticx, SalesLoft, Zylo, LogicGate and more. For more information, visit highalpha.com or follow @highalpha.

About Tenon

Tenon is an innovative marketing solution built on the ServiceNow platform. Created specifically for enterprise marketing teams, Tenon provides a single solution for marketing teams to plan, collaborate, and deliver impactful campaigns with speed and at scale. With features such as Agile marketing, an interactive activity stream, project calendars, and pre-built marketing templates, Tenon empowers marketers to optimize operational efficiency and achieve their goals.

ServiceNow, the ServiceNow logo, Now, Now Platform, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries.   

Contacts

Jessica Skovira

Senior Director of Marketing, Tenon

jessica.skovira@tenonhq.com

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