Datorama will use the funding to accelerate artificial intelligence R&D, and elevate its machine learning capabilities.
Israeli marketing analytics developer Datorama has closed $32 million in Series C financing led by Lightspeed Venture Partners. Marker LLC and Eric Schmidt's Innovation Endeavors also participated in the round.
Datorama was founded in 2012 by CEO Ran Sarig, CTO Efi Cohen and Chief Solutions Office Katrin Ribant. This latest financing round brings Datorama's total funding to $50 million.
Datorama will primarily use the new funding to accelerate the company's artificial intelligence R&D, to further elevate its machine learning capabilities. The company, which has 14 offices worldwide with development headquartered in Tel Aviv, will also continue to expand its global footprint, and is in the process of hiring to further support its significant customer adoption and rapid growth.
Datorama has taken on thousands of brands, hundreds of agencies, publishers and technology companies that leverage the company's Marketing Integration Engine. Global customers include L'Oréal, Foursquare, Yahoo! JAPAN, GoDaddy and many more.
Sarig said, "This is a very pivotal moment for Datorama. Although we're extremely proud of our achievements and monumental growth in the exceedingly complex MarTech market, we're not going to rest on our laurels. In this next stage we're going to focus on the further development of our best-in-breed solution, and we're going to continue to push the boundaries of machine learning and how it's applied in the marketing analytics capacity. We can't wait to show you what's next."
Datorama's Marketing Integration Engine addresses one of the toughest challenges facing data-driven marketers today: Quickly integrating all of the marketing department's messy, siloed data. By applying artificial intelligence, the Marketing Integration Engine automates the process by which marketers connect all of their online and offline data sources from the ever-increasing landscape of advertising, marketing, sales and CRM technologies that pervade today's marketing technology stack.
The platform provides an end-to-end marketing analytics solution for business users that combines this industry-leading data integration capability with patent-pending dynamic data modeling, productized campaign management tools, intuitive data visualization, and advanced analytics that powers unified reporting for real-time data analysis and insights. Datorama helps enterprises, agencies, publishers and platforms of all sizes centralize all of their marketing data while providing the agility to experiment and manage change, two hallmarks of today's data-driven marketing environment.