Lattice Engines has raised $20 million in a round led by New Enterprise Associates for its predictive analytics platform that gives salespeople the information to sell their products. According to The San Francisco Business Times, the company, founded in 2006, has raised $36.5 million, including a $15 million investment in 2011 from Sequoia.
The service is designed to analyze large amounts of data to determine a customer’s intent. The platform delivers real-time data to sales representatives through their CRM platform, email or their mobile devices. At the heart of the technology is the company’s salesPRISM data-analytics platform. It allows salespeople to find the right conversation talking points to use when calling customers, what to cross-sell, how big a deal to expect and what products the customer is most likely to purchase.
The market for technologies that optimize sales and marketing is booming. Lattice Engines plays in a space with competitors that include Oracle, Microsoft and IBM. And startups are booming, as the amount of data increases in volume and speed.
Lattice Engines looks more targeted than most in the space with a specific focus on salespeople in Fortune 500 companies. That should help Lattice Engines compete, as more companies target the ever expanding big-data market.