August 9th, 2013
Crossing the streams: Lytics lands $2.2 million from Rembrandt and Voyager
When Lytics stood on stage at PIE Demo Day last year, they compared their solution to Moneyball. Well, that analogy seems to be paying off. The company—which focuses on helping companies better understand their customers by seamlessly combining multiple streams of activity data into a series of rich profiles—announced today that they had secured $2.2 million in funding, led by Rembrandt Venture Partners with participation by Voyager Capital.
Lytics collects, analyzes and consolidates data from web, mobile, email, social or any integrated system such as ExactTarget, Salesforce, Eloqua, SendGrid, Urban Airship and Push.io. The result is a powerful solution that enables marketers to segment data from any source, create targeted audiences and trigger highly relevant interactions with consumers in real time.
“The shift in technology purchasing from CIOs to CMOs has created an immediate need for a new kind of digital CRM to transform customer data into a meaningful timeline that marketers can use to manage a lifecycle,” said Scott Irwin, Rembrandt Venture Partners. “Lytics has a stellar team and their new data platform is solving a big problem. We’re excited to invest and accelerate their innovation to build a solution that is helping brands strengthen customer relationships.”
This investment is interesting for any number of reasons. First and foremost, this means more jobs. The company plans to use the money for hiring and continuing to build out its technology. Second, it’s always nice to see investors taking risks on Portland startups. Third, this means that Voyager has another Portland investment. And it’s an investment that complements Voyager’s local companies in the marketing space—Act-On—and the social stream space—Chirpify. Finally, this marks the first major funding announcement for the previous class of PIE since Little Bird announced $1 million funding. [Full disclosure: I work at PIE, so maybe this is only interesting to me.]