Neolane Secures $27 Million In Funding To Expand Conversational Marketing Platform
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- Published in DemandGen Reports
Neolane, a provider of conversational marketing technology, today announced it has closed a $27 million financing round, led by Battery Ventures. Other investors include Auriga Partners, XAnge and Gilles Queru.
The company said it plans to use the funding to aggressively expand its reach, particularly in North America, and enhance its sales, marketing and product development efforts.
“Neolane has successfully carved out an impressive footprint within the marketing technology space,” said Morad Elhafed, Vice President, Battery Ventures. “We are impressed with the financial discipline that drove profitability for the company in 2011, its measured approach to corporate expansion, and Neolane’s ability to drive consistent and impressive revenues. We are optimistic about Neolane’s expansion goals and the overall future growth trajectory of this category.”
During the first half of 2011, Neolane said it grew year-over-year revenue 70%. Additionally, the company launched the newest version of its Neolane Interaction product, designed to enable marketers to fuse inbound and outbound marketing campaigns and offers. The company also launched Neolane Social Marketing, designed to harvest qualified prospects from anonymous audiences, such as fans and followers on social networks. Neolane currently works with nearly 400 B2C and B2B customers, including divisions of Fortune Global 500 organizations.
Neolane’s conversational marketing technology is designed to enable users to unify inbound and outbound communications strategies by providing a centralized system to track and manage all marketing activity data.
“With a number of financial transactions and merger and acquisition activity in the marketing technology space, we have certainly reached an exciting time in the market’s evolution,” said Stephane Dehoche, President and CEO, Neolane. “Historically a financially conservative organization, we determined the time was right to capitalize on that momentum and make some bold moves of our own in the market…We feel that many marketers have only scratched the surface in terms of the impact our conversational marketing technology can have on overall marketing effectiveness, revenue generation and loyalty. This funding will help drive greater adoption and increase visibility for what’s truly possible with the technology.”