Datorama, a global marketing analytics innovator, today announced it has closed $32 million in Series C funding led by Lightspeed Venture Partners. In addition, Marker LLC and Eric Schmidt's Innovation Endeavors also participated in the round. This series brings Datorama's total funding to $50 million. Valuation was not disclosed.
Datorama will primarily use the new funding to accelerate the company's research and development in the artificial intelligence field, which will further elevate its machine learning capabilities. In addition, the company will continue to expand its global footprint, and is in the process of recruiting and hiring exceptional talent to further support its significant customer adoption and rapid growth.
Datorama has onboarded thousands of brands, hundreds of agencies, publishers and technology companies that leverage the company's Marketing Integration Engine. Global customers include L'Oréal, Foursquare, Yahoo! JAPAN, GoDaddy and many more.
Recently, in a commissioned study by Forrester Consulting on behalf of Datorama, Forrester discovered a Total Economic Impact benefit over $9.8MM for a single enterprise customer. In addition, Datorama was designated a 2016 Gartner Cool Vendor in Data-Driven Marketing, and was named a 2015 Deloitte Israel Fast 50-Rising Star, which recognized Datorama's extraordinary revenue growth rate of 694 percent.
'This is a very pivotal moment for Datorama,' said Ran Sarig, co-founder and CEO, Datorama. 'Although we're extremely proud of our achievements and monumental growth in the exceedingly complex MarTech market, we're not going to rest on our laurels. In this next stage we're going to focus on the further development of our best-in-breed solution, and we're going to continue to push the boundaries of machine learning and how it's applied in the marketing analytics capacity. We can't wait to show you what's next.'
'Lightspeed is excited to be working with Datorama and are confident that the company will continue to deliver immense value to its rapidly expanding customer base,' said David Gussarsky, partner, Lightspeed Venture Partners. 'We are confident that the company will come to dominate the marketing technology space in the years to come.'
'It's been thrilling to watch Datorama take off the way that it has. It's so impressive for a relatively young company,' said Rick Scanlon, partner, Marker LLC. 'Datorama's platform is peerless. Seeing such a positive market reaction so early, we felt obliged to continue playing a role in funding Datorama's success.'
Datorama's Marketing Integration Engine addresses one of the toughest challenges facing data-driven marketers today: Quickly integrating all of the marketing department's messy, siloed data. By applying artificial intelligence, the Marketing Integration Engine automates the process by which marketers connect all of their online and offline data sources from the ever-increasing landscape of advertising, marketing, sales and CRM technologies that pervade today's marketing technology stack.
The platform provides an end-to-end marketing analytics solution for business users that combines this industry-leading data integration capability with patent-pending dynamic data modeling, productized campaign management tools, intuitive data visualization, and advanced analytics that powers unified reporting for real-time data analysis and insights. Datorama helps enterprises, agencies, publishers and platforms of all sizes centralize all of their marketing data while providing the agility to experiment and manage change, two hallmarks of today's data-driven marketing environment.
About Lightspeed Venture Partners
Lightspeed Venture Partners is an early stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 300 companies globally. The Firm currently manages over $4 billion of committed capital and invests in the U.S. and internationally, with investment professionals and advisors in Silicon Valley, Israel, India and China. www.lsvp.com
About Datorama
Datorama is a global marketing analytics company providing the world's first Marketing Integration Engine for enterprises, agencies, publishers and platforms. Datorama's Software-as-a-Service (SaaS) platform gives marketers the ability to connect all of their data sources together, whether it's a handful or hundreds, to form a single source of truth for more efficient reporting, better decision making and total control over their marketing performance. Datorama's best-in-class combination of end-to-end data management, machine learning (AI) technology, and high-performance architecture makes it simple for data-driven marketers of all experience levels to connect, unify, analyze and act on all of their marketing data.
Datorama powers marketing analytics for thousands of leading organizations and has a global presence with 14 offices worldwide. To learn more about Datorama, please visit: www.datorama.com.