Lotame Secures $15 Million in Series D Funding Led by Sozo Ventures and TrueBridge Capital Partners Investment will enable new offerings and commercial growth of largest independent DMP in the industry
NEW YORK, March 5, 2014 /PRNewswire/ -- Lotame, the world's leading independent data management platform (DMP), today announced that it has secured $15 million in Series D funding. The round was led by Sozo Ventures and TrueBridge Capital Partners, with substantial participation from existing investors Battery Ventures, Emergence Capital Partners and RJ Finlay & Co. Combined with previous funding rounds, Lotame has now raised a total of $44 million. The additional financing will allow Lotame to accelerate the development of its innovative real-time, cross-device data platform and extend its position as the largest and fastest growing independent pure-play DMP.
Within the last year, Lotame has reached a number of meaningful milestones, growing its customer base by 139 percent and recurring revenue by 117 percent, as well as extending its reach in Asia Pacific and Europe. In the last quarter of 2013 alone, marketers and publishers worldwide including Trinity Mirror, Media Crossing, ESPN Australia, Wego.com, and SingTel among others selected Lotame as the DMP to manage and activate their audience data. Lotame also introduced several significant upgrades, including Lotame Insights, Lotame Optimizer and the Lotame Mobile DMP Suite.
"DMPs are beginning to gain significant traction among marketers and publishers around the world who recognize that the Big Data revolution in advertising and digital marketing has arrived," said Phil Wickham, Managing Director of Sozo Ventures. "Lotame is leading the industry in both innovation and independence, unifying data from all platforms and devices in a way no one else can. We're excited to support their continued success."
Global expansion was also a priority in 2013, as Lotame established new regional headquarters in the United Kingdom and Singapore, and increased its worldwide employee base by more than 20 percent. To meet the needs of global customers, the platform was also enhanced to enable data collection in Chinese, Japanese, Hebrew, and Indian languages.
The company has also hired Zach Boisi as Vice President of Client Operations. Boisi will oversee all aspects of client implementation and success management, including client adoption, engagement, usage, retention and growth. Previously, Boisi held leadership positions at Sears, Network Solutions and newBrandAnalytics, gaining management experience in client services, training and strategic planning.
"We believe DMPs can be the vehicle to deliver a seamless way for marketers and publishers to consistently reach and engage individuals across smartphones, desktops, tablets and television," said Andy Monfried, founder and CEO of Lotame. "This new round of funding will allow us to continue to invest and deliver on this mission, creating tremendous value for our customers, employees and shareholders."
Lotame is the DMP for Maximum Audience Impact— helping marketers, publishers and agencies maximize the way they collect, unify, protect, and activate audience data. Leveraging the industry's most robust audience management engine, they're able to intelligently monetize data, create premium properties, target more efficiently, and drive higher campaign performance and revenue. We're dedicated to constant innovation, and helping our clients take full advantage of big data. Together, we're doing things that others haven't thought of yet. To learn more, visit www.lotame.com.