Marketing technology provider Neolane scores $27m in funding

Conversational marketing technology provider, Neolane has started off the 2012 strong after securing $27m in a financing round led by Battery Ventures, which is known for investing in companies like BlueKai, Groupon, and ExactTarget.

Initial investors in Neolane were joined in the round which included Auriga Partners, XAnge, and Gilles Queru. The funding received is planned to be used in rigorously expanding Neolane's international leadership across the marketing technology industry with particular investment in the North American region.

Neolane sells a centred system that aids business owners and marketers in monitoring and managing marketing activity across the board. This allows Neolane to help businesses create targeted messages and offers that are based on customer interest and behaviour.

"Neolane has successfully carved out an impressive footprint within the marketing technology space," said Battery Ventures Vice President, Morad Elhafed. "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."

The company boasts 400 B2B and B2C customers, including Fortune 500 organisations. Companies like Barnes & Noble, Orange, Sony Music, and Alcatel-Lucent are a few of Neolane's clients.

President and CEO of Neolane, Stephane Dehoche, says the timing was right to make bold moves of their own in the market:

"This new investment by Battery Ventures is a strong endorsement from a top tier firm that has a clear understanding of 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," he said.

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