Lattice Engines Seizes $20 Million in Latest Round

By: Ali Raza  |   November 26th, 2012   |   Business, News

In a recently concluded funding round, Lattice Engines successfully raised $20 million. The campaign was led by New Enterprise Associates who see promise in the firm’s predictive analytics platform that gives information to sales staff, so they can sell products more efficiently.

 

This means that Lattice Engines has now secured $36 million thus far, which includes an investment of $15 million from another industry stalwart, Sequoia Capital in 2011. The CEO of Lattice Engines, Shashi Upadhyay was already expecting solid return on investment, predicting in June of this year that company profits would be $15 million to $25 million during this calendar year

 

Upadhyay made this prediction because he knew that companies who could harness technology to help corporations’ sales staff effectively and easily, the adoption would be massive. This platform gives data to salespeople in real-time through various means including email, CRM or mobile devices, so that they can act and sell according to a customer’s intent in real time. This knowledge would all them to cross sell, expect how big a deal can be and which products the client will be more likely to buy.

 

All this is possible because of the salesPRISM data analytics platform that is at the core of Lattice’s effectively. The platform analyses huge amounts of data and curates it to provide essential information to the salespeople so they can identify the need and behaviour of that client.

 

Lattice Engines is not the only company that is involved in emerging field. Its list of competitors includes big names such as Microsoft, IBM and Oracle who possess the access to data and technology to offer this type of service. Lattice Engines is specifically targeting the sales staff of Fortune 500 companies so as to have a more focused market as compared to its competitors.

 

Source: TechCrunch