Leadspace, which employs 70 people in Hod Hasharon and San Francisco, has raised $21 million in Series C funding. The round was led by Arrowroot Capital and existing investor Jerusalem Venture Partners (JVP).
Leadspace describes itself as a B2B audience management platform for marketing and sales It says it will use the funding "to support its rapid customer growth, continue 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." It 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.
The company's platform identifies new customers, facilitates routine management of information on them, and suggests to salespeople strategies for managing relations with them. The platform uses Big Data and artificial intelligence to generate and update its customers' databases.
“We believe AI is revolutionizing B2B Sales and Marketing as more and more companies are seeing the results,” said Arrowroot Capital managing partner Matthew Safaii. “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.”
The current round brings the total amount of capital raised by Leadspace to $56 million. In its first round, in 2011, the company raised $17 million from Battery Ventures, Vertex, and JVP. The same three investors participated in the second round, which took place in 2015, investing a further $18 million. Leadspace was founded in 2007 by Amnon Mishor and Yaron Karasik with the name Data Essence. Mishor was CEO of the company until 2013, since when he has been CTO. The current CEO is Doug Bewsher, formerly CMO at Skype and Salesforce.
Published by Globes [online], Israel business news - www.globes-online.com - on December 17, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017