Centerfield has agreed to acquire Datalot from Lightyear Capital. No financial terms were disclosed. Datalot is a provider of digital marketing solutions for auto, home, health and Medicare insurance companies.
LOS ANGELES, June 29, 2021 /PRNewswire/ — Centerfield, a premier technology service for digital customer acquisition, today announced the signing of a definitive agreement to acquire Datalot, a leading digital marketing solution for auto, home, health and Medicare insurance companies, from an investment fund affiliated with Lightyear Capital.
Centerfield’s digital brands and industry leading platform, Dugout, engage in-market consumers and automate end-to-end customer acquisition for leading brands in home services, business services, e-commerce, senior services and many other categories. With Datalot, Centerfield will serve the insurance industry, which is expected to spend more than $11 billion annually in digital customer acquisition by 2025.
“Josh and the Datalot team have built an impressive business over the last decade and have a best-in-class marketing and technology platform for the insurance industry,” said Jason Cohen, co-Founder and co-CEO of Centerfield. “We are excited to combine and expand our best-in-class solutions across every category and brand we serve.”
Founded in 2009, Datalot’s digital marketing solutions and technology platform deliver more than 10 million qualified consumers to over 40 leading carriers of auto, home, health and Medicare insurance each year. With offices in Brooklyn and Denver, Datalot has more than 300 employees.
“We are still in the early innings of digital adoption in the insurance industry, with digital marketing spend set to double by 2025,” said Josh Reznick, Founder and CEO of Datalot. “We are thrilled to be joining Centerfield and are confident that the combination of our respective platforms will both extend our leadership position in digital insurance and facilitate faster expansion into additional categories.”
The transaction announced today will mark the fourth Centerfield add-on acquisition since the company was acquired by Platinum Equity in December 2019.
“We continue investing in Centerfield’s growth and expanding its platform to new verticals,” said Platinum Equity Partner Jacob Kotzubei and Platinum Equity Managing Director Matt Louie in a joint statement. “We will continue pursuing additional strategic M&A opportunities with an emphasis on growing the company’s portfolio of owned and operated website properties.”
Centerfield’s owned & operated web sites and technology platform, Dugout, convert millions of “shoppers of a service” into “buyers of a brand”. Working with the world’s top marketers, Centerfield delivers millions of new customers for residential services, business services, and a variety of other consumer product and service categories. Centerfield’s marketing and sales technology platform, Dugout, and leading consumer guides engage more than 125 million in-market consumers to help them make complex purchasing decisions. Centerfield is headquartered in Los Angeles.