Lytics has raised more funding to help brands such as Nestlé, The Economist, Atlassian and others bolster their 1-to-1 customer marketing outreach.
The Portland, Ore.-based startup announced a $35 million Series C round led by late-stage software growth equity firm JMI Equity. Existing investors such as Comcast Ventures, Two Sigma Ventures, Rembrandt Venture Partners, and Voyager Capital also participated.
What Lytics does: The 7-year-old company captures customer data across various databases and marketing tools, aggregating information in one place and using machine learning to help consumer-facing companies with their personalized marketing efforts.
Lytics CEO and co-founder James McDermott described Lytics as a “control tower for marketing” that helps unify customer data and provide insight into how to reach those customers with relevant content and offers.
“Our platform dramatically simplifies the marketing workflow for marketers who want to use customer data to run more targeted campaigns and achieve their strategic goals,” he told GeekWire.
Traction: Lytics has more than 175 enterprise brands paying for its software. The Economist, for example, uses Lytics to decrease acquisition costs and grow digital subscriptions.
“They identify web visitors who are not already subscribers and who are likely to subscribe and target them with highly relevant subscription CTAs and display ads,” McDermott noted.
Lytics saw revenue increase by nearly 3X last year. It employs 79 people and expects to reach 150 employees over the next year. The company raised its Series B round this past April and total funding to date is $58 million.