Audience Management Platform Leadspace Raises $21 Million Series C Funding to Drive AI-Enabled MarTech Transformation
Series C funding for Leadspace was led by Arrowroot Capital and JVP to support continued AI product leadership and customer growth in the US, and Israel
World’s leading B2B audience management platform for marketing and sales, Leadspace has raised $21 million in Series C funding, led by Arrowroot Capital and existing investor Jerusalem Venture Partners (JVP). As B2B organizations increasingly use big data and AI to drive more targeted relevant engagement and faster growth, Leadspace’s latest funding round would drive powerful results for leading B2B customers such as Microsoft, Marketo, and RingCentral.
The Series C funding round will support additional investment and innovation in the Israel- based AI platform and team, as well as growth in the customer team in San Francisco and Denver to support Leadspace’s continued growth.
Empowered Sales and Marketing Teams can Engage B2B Audiences More Effectively
Combining the potent power of data management and predictive analytics, Leadspace is expected to develop its pioneering Audience Management Platform, and further entrench its position as the only end-to-end data and predictive intelligence solution for B2B Marketing and Sales.
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In our MarTech Interview Series, CEO of Leadspace Doug Bewsher mentioned how AI is going to transform B2B Sales and Marketing. Doug said, “Leaders need to set a path, focus on where the results can truly be shown today – whether it is in AI-driven data management or predictive segmentation, and from this foundation of real results, start to experiment with the earlier stage applications such AI-driven marketing programs or intent based recommendations.”
Now, with the increase in Account-Based Marketing coupled with traditional content marketing, audiences are increasingly overwhelmed with marketing messages. It is more critical than ever to engage B2B audiences with specific, relevant, aligned and valued interactions.
Audience Management Platforms Leaning onto Behavioral Targeting and People-based Marketing Capabilities
In our TechByte Interview, Travis Kaufman, VP Product & Partnerships at Leadspace had mentioned about the changing trends in audience management platforms. Travis explained how B2B audience management platforms gradually leaning towards delivering real-time behavioral targeting and people-based marketing solutions.
Travis had said, “One important distinction though is that behavioral data is only one of the ingredients that an AMP must be able to understand and act upon. We find that having a solid foundation of who an individual is within an organization – such as demographics, professional expertise and their relationship with an organization (firmographics) – is the primary ingredient for any actionable customer engagement. Behavioral data can then become relevant once you have that foundation of who your customer actually is.”
Matthew Safaii, Managing Partner at Arrowroot Capital, said, “We believe AI is revolutionizing B2B Sales and Marketing as more and more companies are seeing the results. Leadspace has pioneered this space, built an unrivaled platform and won an incredible list of customers. We are excited to partner with the company on the next stage of its growth.”
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Audience Modeling: AI for Creating Relevant B2B Interactions
Leadspaces’ Audience Management Platform for B2B marketing is an ever-learning model. The Audience Management Platform applies advanced artificial intelligence (AI) to find names, match leads to accounts, segment by buyer personas, and surface the next best leads and accounts to target. Using this AI-enabled Audience management platform, marketers can make sense of all data and make better decisions about your marketing and sales campaigns.
According to the company, customers can refine their audience intelligence, and get the latest intelligence about relevant market, create up-to-date segments, and optimize future campaigns.
Leadspace’s Audience Management Platform, with its combination of unparalleled 3rd-party data sources and Artificial Intelligence (AI), enables Marketing and Sales teams to precisely find and target ideal customers, recommend how to best engage them, and enrich their internal databases with a single, consistent source of truth.
Over the last year, customers such as Microsoft, Marketo, AppDynamics, HP Enterprise and N3 have used Leadspace to transform their B2B Marketing efforts through data management and AI.
At the time of this announcement, Chandar Pattabhiram, CMO of Coupa and former CMO Marketo, said, “Leadspace helps companies to empirically determine their best accounts that have the highest propensity to buy, and identify key micro-segments within verticals so that they can build highly targeted ABM programs. It is essential to building these programs on a solid foundation of data and analytics, and this is Leadspace’s key strength.”
Min Wang, VP Digital Marketing at Brocade, agreed and explained how Leadspace is helping the company build a highly-personalized, buyer-driven purchase process. Wyng said, “By combining accurate, relevant data with tools like predictive scoring, persona building, and lead-to-account matching, we are developing a much more relevant set of interactions for our prospects and customers.”
Raffi Kesten, Managing Partner, JVP, said, “Leadspace’s rapid and consistent growth is a result of their innovative technology, which addresses a significant market need. The company’s data management and predictive analytics platform, powered by AI, is helping enterprises and mid-market companies maximize sales and marketing potential, and we believe their extraordinary growth will only continue.”
Currently, the world’s first Audience Management Platform enables B2B companies to better engage customers and drive faster growth by allowing marketers to find and know their audiences. As internal and external data multiplies, Leadspace uses AI to provide a single source of truth across all sales and marketing data, identify net new account and individuals, and recommend the best marketing activities. Updated in real time, data and intelligence remains constantly accurate and actionable and can be consistently used in sales, marketing, and advertising channels.