Funding and fresh leadership: Leadspace, a data software company has raised $46 million in growth funding through the Jerusalem Venture Partners (JVP), making the company a front runner in the Customer Data Platform (CDP) market.The company is, in the meantime, welcoming its new chief executive officer, Alex Yoder, who will bring over 20 years of experience as a leader in technology, Business-to-Business (B2B), and Software as a service (SaaS).
Leadspace mainly works with top enterprises to unify and activate their B2B data, giving them a source of truth that powers their sales and marketing efforts.
The company, which is estimated to generate $2.4 billion in 2020, and expand to $10.3 billion by 2025, is planning to use the funding to expand the team in both Israel and the US to keep up with the increased demand they’ve seen in the last year.
Yoder had previously led growing companies like WebTrends, Ebiquity, and Trueffect, where he built strong teams and implemented transformational strategies, running businesses that spanned $20 million to $150 million in revenue.“AI is hot. CDP is hot. B2B tech is hot,” said Yoder, explaining that “Leadspace brings all three of these elements together in a best-in-class platform that is fueling some of the biggest B2B marketing and sales teams on the planet."
Yoder continued, "I’m extremely excited about working with this innovative team and our excellent customers to expand our B2B CDP category leadership as we get these tools in the hands of more B2B growth teams.”
Leadspace has also announced that JVP Founder and Executive Chairman, Erel Margalit, will serve as Chairman of the Board for the company. Margalit has led investments including CyberArk Software, QLIK Technologies and Cogent Communications, among others.
“We believe that Alex Yoder can take the business to the next level as Leadspace becomes the single source of truth for B2B data," said Margalit
“Leadspace – through its revolutionary AI platform – is changing the way enterprises manage their internal and external customer data. In the coming years, enterprise CDP will be established as a new category, using AI to obtain the true identity, title and roles of companies and individuals, creating true added value for clients," he continued.
"The company has added an impressive roster of new clients — including Salesforce, American Express, and Zoom — to establish its leadership in the category. Building on the company’s technological center of excellence based in Israel, Leadspace will now augment its business leadership in the US."
As customers demand more personalized and consistent experiences with brands across channels, many companies struggle to manage the raw data they have in unintelligent engagement systems.
As a recognized leader in the Forrester New Wave: B2B Customer Data Platforms report, Leadspace is the only independent vendor in the space with a truly data-agnostic, AI-driven, and channel-agnostic solution.
“B2B teams have been struggling with fundamental data quality problems for years,” said Amnon Mishor, Leadspace Founder and CTO.
“Many companies are using old methods and haven’t made enough progress toward fulfilling the promise of AI and modern technology. Our team has worked with some of the biggest B2B companies in the world to build a leading platform that addresses many of their challenges through a source of truth for customer data.