On-demand marketing technology firm Silverpop on Thursday said it took $15 million in funding which it will use to acquire companies with complementary technologies in the hosted services market.

The nine-year-old, Atlanta-based firm, which sells a set of targeted email marketing services used by companies to manage their customer communications, has now raised almost $70 million.

Once a set of complex premise-installed software functions, customer relationship management (CRM) has reemerged as hosted services championed by companies such as Salesforce.com.

Marketers can use email and other marketing services from firms such as Silverpop, ExactTarget, and e-Dialog to launch marketing campaigns designed to anticipate or affect customer buying decisions.

“Companies providing on-demand marketing tools are really thriving right now, despite a looming recession,” said Silverpop CEO Bill Nussey. “There is a lot happening in our market.”

Silverpop rivals Indianapolis, Indiana-based ExactTarget, has filed to go public, while e-Dialog of Lexington, Massachusetts was recently acquired by e-commerce firm GSI Commerce for $157 million.

Silverpop plans to use its latest cash infusion for overseas expansion and R&D, but the firm will focus its resources primarily on the acquisition of companies that automate manual aspects of the marketing process.   

The firm tested the acquisition waters last year when it acquired Vtrenz, a Fargo, North Dakota-based marketing automation and lead management company for an undisclosed sum.

“Automation takes care of things like relevancy and targeting but the net effect is that marketers spend less money and customers have a far better experience,” Mr. Nussey said.

D.E. Shaw group’s venture capital unit, a new investor, led Silverpop’s funding round along with existing investor Draper Fisher Jurvetson.