$35m Funds for Data Firm Lytics

Segmentation and targeting platform Lytics has raised $35m in a Series C round of funding, earmarked for product development and expansion of its team.

Lytics helps clients in retail, media, consumer goods, banking and tech to segment and target customers: its CDP pulls in the client's customer and user marketing data from both structured and unstructured sources including sales and support databases, and forms 'behavior-rich' user segments, such as 'likely to churn', 'most active on mobile' or 'coupon lover'. These are then integrated with the client's marketing tools.

The latest round was led by JMI Equity with participation from current investors Comcast Ventures, Two Sigma Ventures, Rembrandt Venture Partners, and Voyager Capital. Previous funding includes $7m in a Series A round four years ago.

CEO and co-founder James McDermott (pictured) says the company will 'expand aggressively, hiring across the entire organization'. At present the team consists of just under 100 including marketers, technologists, data scientists, customer service and sales professionals. Planned product enhancements include improvements to deployment methodology to provide faster measurement of ROI, and the firm says it will work on growing and expanding relationships with its technology and implementation partners.

Web site: www.lytics.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.