Lytics has raised a $2.2 million seed round from Rembrandt Venture Partners with participation by Voyager Capital for its platform that provides a Facebook-style timeline for customer intelligence. The customer profile reflects the analysis that Lytics does behind the scenes, collecting data from customers as they interact with the company’s brand. It’s a database for marketers built on real-time data.
There’s a subtle difference with Lytics that’s a notable reflection on how companies are adapting to the cloud and the reality of their own on-premise architectures. Marketers in many organizations have developed an ecosystem of SaaS vendors for email marketing, marketing automation, CRM and a host of other uses. But for data analytics they often turn to the enterprise, which is proving increasingly problematic. The marketing data IT processes can be queried, but it is also isolated in an unuseful format.
Consequently, marketers find they can get better results doing the work themselves. The SaaS tools become the source that the marketers use. The marketers collect and analyze the data from the SaaS platforms to conduct more concise campaigns. But those SaaS tools are silos in themselves. The data has to be pulled out and aggregated with other information for analysis.
Lytics sees an opening in serving marketers with a more relevant service that provides a timeline of the customer with the hope of giving a better picture for the marketer to act upon. It’s this ongoing narrative of customer data that provides marketers an alternative to the laborious process of extracting and analyzing data on their own.
While Lytics considers every data interaction to be an opportunity, marketing automation powerhouses like Marketo see the market opportunity, as well. And Salesforce.com now has its own marketing cloud. But overall, the Lytics service provides a fresh look at how marketers can use analytics to become more data-driven organizations.