Venture Capital News: Lytics Raises $35M Series C Funding
PORTLAND, OR, Lytics, the leading Customer Data Platform ("CDP") for marketers, today announced the closing of a $35 million Series C investment round.
The round was led by JMI Equity, a growth equity firm focused on investing in leading software companies, with participation from current investors Comcast Ventures, Two Sigma Ventures, Rembrandt Venture Partners and Voyager Capital.
This investment will enable Lytics to scale and meet the exploding demand for a CDP that unifies customer data, delivers actionable insights, and orchestrates and optimizes cross-channel campaigns. The company will add more robust connectivity into the tools marketers use most and deliver more reporting options to help customers measure success. Lytics will also mature its deployment methodology, accelerating its customers' ability to achieve a quick time to value and measurable results. The investment comes as Lytics closed out a record-breaking 2018, during which the company saw revenue increase nearly 3x and adoption of the Lytics platform more than double across every industry. Today, more than 175 enterprise brands rely on Lytics to know and serve their customers.
"Lytics is a transformational platform built to help strategic marketers navigate ever-evolving consumer behavior while providing actionable intelligence based on individual customer engagement with their brand," said James McDermott, CEO of Lytics. "This investment and JMI's partnership will accelerate our leadership position in the CDP market with a focus on removing the complexity marketers face in their everyday workflows."
The Lytics CDP is the most comprehensive solution for simplifying and optimizing strategic marketing initiatives. The platform brings value to corporate marketing departments by delivering data-driven insights marketers can use to more effectively match people to the campaigns they are running. With Lytics, campaigns shift from complex, rule-based flow charts to goal-based customer journeys, optimized for each individual in every channel. Lytics is setting a new standard for increasing relevance, accelerating time to market and improving ROI for marketing campaigns.
"Lytics is the market leader in the fast-growing customer data platform space and we're excited to take advantage of opportunities to further solidify the Company's position as the premier provider of customer data insights," said Suken Vakil, General Partner at JMI Equity. "As marketers seek to coordinate more of their campaigns across channels, Lytics is perfectly positioned to make this possible. We're thrilled to support this leading team on their next phase of growth."
Lytics helps enterprises orchestrate individually personalized marketing experiences through the industry's most advanced Customer Data Platform (CDP). Since 2014, Lytics has enabled popular media, entertainment, consumer goods, travel, hospitality and tech brands to execute one-to-one marketing programs that their customers welcome. Brands using Lytics include NestlĂ©, The Economist, AEG, Atlassian and 1-800 Contacts. Headquartered in Portland, Oregon, Lytics is led by marketing and technology veterans who've held leadership positions at Webtrends, Urban Airship, Tripwire and Puppet.
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 140 businesses in its target markets, successfully completed over 90 exits and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.
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