Portland, Oregon-based Lytics, an adaptive digital marketing solutions provider, has raised $7 million in Series A funding. Comcast Ventures led the round with participation from other investors that included Rembrandt Venture Partners and Voyager Capital.
Portland, Ore. – October 22, 2014 – Lytics (www.getlytics.com), the pioneer in adaptive digital marketing, today announced a $7 million Series A funding round led by Comcast Ventures, with participation from prior investors Rembrandt Venture Partners and Voyager Capital. This round raises the company’s total venture capital investment to $9.2 million. Also participating in this round are angel investors, board members and leading digital marketing executives Nick Brien, former CEO and chairman of McCann Worldwide; Tim Kopp, former CMO of ExactTarget; and Brett Queener, former executive vice president and general manager of Salesforce Marketing Cloud and current COO of SmartRecruiters.
The investment signals confidence in Lytics’ ability to usher in a new era of adaptive digital marketing — where consumer brand marketers must adapt to constantly changing audience demands in order to more effectively market to them across Web, mobile, social and email channels. Lytics created the first marketing activation platform that unifies all consumer data gathered from all digital touch points, applies a proprietary blend of machine learning and predictive analytics to surface new audiences, and then drives more effective marketing strategies and smarter marketing decisions. Built by marketers for marketers and with ease-of-use in mind, Lytics gives users opportunities to know their customers better, engage with them more effectively and improve overall marketing results.
“Billions of consumers are attempting to engage with brands across countless digital channels; and the best marketers are striving to understand how to communicate with their customers in an increasingly personalized manner.“ said Andrew Cleland, Managing Director of Comcast Ventures. “Lytics technology enables marketers to effortlessly segment their audience and to automatically take the optimal marketing action for each segment. We are excited by the company’s potential to really disrupt the digital marketing space.”
Lytics will use the funds to invest heavily in product development, aggressively recruit talent and fuel rapid expansion. Investors have noted that the company’s leadership pedigree, history of success and deep involvement in the marketing field sets it apart from other solution providers.
“The Lytics team is among a small class of innovative marketers-turned-builders who have found a way to unify SaaS platforms so marketers are empowered with the data they need to connect with audiences in entirely new ways,” said Tim Kopp, former CMO of ExactTarget. “Thanks to Lytics, fellow marketers now have a tool that aligns marketing initiatives with business goals and ultimately helps us to become better at what we do.”
“Lytics CTO and co-founder Aaron Raddon, CEO James McDermott and the rest of the Lytics team are solving the biggest challenge facing marketers today — the ability to adapt and respond to their consumers in a personalized way,” said Brett Queener, former EVP of Salesforce Marketing Cloud andcurrent COO of SmartRecruiters. “By building a platform that easily reflects how consumers engage with brands today, Lytics is in a unique position to become the market leader.”
“Major consumer brands are using Lytics to make sense of the rapidly changing marketing environment, identify opportunities, take action and positively impact their bottom lines,” said James McDermott, CEO and co-founder of Lytics. “We’re bringing a technology platform to market that solves problems marketers have struggled with since digital marketing began and are in a position to completely redefine the way consumer brands captivate and reach their audiences.”
In addition to Series A funding, Lytics today announced general availability of its marketing activation platform (http://www.getlytics.com/lytics-announces-general-availability-marketing-activation-platform/). Delivered as SaaS, it is the first platform to integrate all marketing touch points, identify hidden audiences, reveal new opportunities and provide recommendations for Web, mobile, social and email channels. For more information, visit: www.getlytics.com.