River Cities and Piper Jaffray Lead $28M Round in Lattice Engines
Lattice Engines, the leading provider of predictive marketing and sales applications, today announced it has closed a $28 million Series D financing round. River Cities Capital Funds and Piper Jaffray Merchant Banking led the round; other investors included Blue Cloud Ventures and previous Lattice investors Sequoia Capital and New Enterprise Associates (NEA). This round brings total investment in Lattice to $75 million.
“In the past decade there has been a massive shift in B2B marketing towards predictive solutions. It’s no longer enough to be a modern marketer. It’s about being a predictive marketer,” said Shashi Upadhyay, CEO of Lattice. “By leveraging big data and powerful analytics, B2B marketers today have the same power of prediction as consumer giants such as Amazon and Netflix.”
In addition to Sequoia participating in the round, Sequoia partner Doug Leone has joined the company’s Board of Directors. “Lattice helps customers dramatically improve one of the most important drivers of growth – sales efficiency,” said Leone. “They’ve already emerged as the leader in this fast-growing market, with more customers than all of the other companies combined.”
Lattice has deployed its solution at over 100 companies worldwide, through its complete solution of predictive marketing and sales applications. Lattice combines billions of intent signals with company fit and behavioral data, and applies advanced machine learning to predict what a customer will buy, when they will buy and how much they will buy.
“Predictive analytics are becoming embedded in numerous industries, from healthcare to industrial manufacturing,” said Rob Heimann, Director at River Cities, who will also join the Lattice Board. “We share Lattice’s belief that marketing and sales teams can greatly improve their productivity with predictive analytics, which ultimately leads to positive impacts on a business’ bottom line.”
With its predictive analytics solutions, Lattice supports companies in industries ranging from consumer products and technology, to business services and banking. Customers using Lattice have seen a 37% increase in win rates, a 20% increase in conversions, three times higher cross-sell, and 20% reduced churn.
“An impressive list of successful and happy customers is one of the quickest ways to determine if a company has a powerful technology solution,” said Robert Rinek, Managing Director at Piper Jaffray Merchant Banking. “Leading companies around the world trust Lattice’s predictive marketing and sales applications to drive dramatic improvements to marketing and sales performance. Lattice is profoundly changing the growth trajectory of their customers.”
In the past year, Lattice has experienced increased global demand and responded with partnerships in Europe and Asia Pacific. In addition, it has announced more than 35 data partnerships with companies such as Dun & Bradstreet, Lexis Nexis, Experian, Profound Networks and Bombora. Lattice will use its new capital to accelerate its leadership position in the market and attract the best talent through investments in engineering, go-to-market, and its growing partner ecosystem.
“Lattice Engines is disrupting an exciting industry that’s ripe for change. We’re thrilled to partner with Shashi and his team on a product that’s changing the way corporate teams interact, engage and acquire new customers with lifelong value,” added Rami Rahal, partner at Blue Cloud Ventures.
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