Marketing technology firm, Percolate, announced it raised c$40 million in Series C financing, bringing the start-up’s total venture funding to $74.5 million. Percolate says it will invest in growth and development of its enterprise software platform that centralizes marketing operations.
“The world’s largest and most valuable brands are built by creativity, consistency and reach,” said Noah Brier, CEO and Co-Founder, Percolate. “We’ve created the first global operating system that helps marketers manage all three. This investment is a clear testament to our mission to build The System of Record for Marketing, and we will continue to change expectations for what marketing software can achieve.”
Aiming to help companies dramatically pare down the number of marketing technology systems they rely on — Percolate says the average Fortune 500 marketing department uses 50 different software tools to manage more than 40 communications channels — the platform includes capabilities for campaign planning, brand management, creative process, content production, social media distribution, acquisition and multi-channel analysis.
Percolate is going up against Adobe and Salesforce as well as newcomers Sprinklr and Spredfast among others in the space and currently counts seven of the ten largest CPG brands among its customer base.
The latest financing round was led by Lightspeed Venture Partners, with Sequoia Capital, GGV Capital, First Round Capital and Lerer Hippeau Ventures also participating.
“Percolate continues to execute on a vision that systematizes marketing at global scale, at a time when brand consistency needs to meet the demands of 24/7, multi-channel communications,” said Will Kohler, Partner at Lightspeed Venture Partners. “Their platform understands the workflows that put marketers firmly in control of their future, and we’re excited to lead this financing.”
Percolate says it plans to use the funds to triple headcount in its San Francisco headquarters this year and expand into global markets with new offices potentially in Europe, Asia and Latin America, increasing total employee count from 200 to 300.
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