Leadspace offers a customer data platform (CDP) that uses AI and big data to help sales and marketing teams build rich B2B customer profiles to support inbound and outbound campaigns. The company today announced it has raised $46 million in a round of funding led by Jerusalem Venture Partners (JVP).
Founded in 2011, Leadspace unifies companies’ data from across internal and external sources and applies AI to create “intelligent B2B profiles” on companies or people, detailing how they are connected and which ones are ripe for targeting.
“We then activate those intelligent profiles in the apps and channels where sales and marketing engage with customers so they can be more personalized and effective,” Leadspace founder and CTO Amnon Mishor told VentureBeat.
Businesses can deploy Leadspace in a number of ways. The platform offers prebuilt integrations that can be used to plug directly into Salesforce, Microsoft Dynamics, and Hubspot, among other enterprise apps, while a self-serve app called Leadspace On-demand enables customers to build segments, access reports and analytics, and discover targets. Bigger enterprise companies sometimes work directly with Leadspace’s APIs to create custom integrations that push and pull data between the CDP and their internal systems.
As with just about every enterprise tool, reporting and analytics are a key part of Leadspace’s offering, including data health reports for data management or operations teams that provide insights into the quality of the data, including how much has been enriched and how much is duplicate data.
Elsewhere, Leadspace provides reports and analytics for sales and marketing teams, spanning total addressable market (TAM), account engagement, and ideal customer profile (ICP).
San Francisco-based Leadspace had raised $61 million before now, and with another $46 million in the bank it plans to grow its team in Israel and the U.S., building on demand that has netted some major enterprise clients, including Salesforce, Microsoft, Zoom, and American Express.
Alongside the funding news, Leadspace announced a new CEO. Alex Yoder, who previously headed up a number of businesses across the B2B sphere — such as WebTrends, Ebiquity, and Trueffect — replaces Doug Bewsher, who assumed the role in 2014 after serving as CMO at Salesforce.
A spokesperson told VentureBeat that Bewsher stepped down due to a “difference of opinion” over the company’s direction — Bewsher had wanted to sell, but the founders and management team wanted to grow instead. A report from last year indicated that Leadspace board members and JVP, which has invested in Leadspace at every round of funding, were suing Bewsher for allegedly trying to secretly sell the company, among other more serious allegations.
There has been a flurry of activity across the broader CDP space over the past year or so, with Twilio acquiring Segment for north of $3 billion, while Mparticle and ActionIQ raised $45 million and $32 million, respectively.
Leadspace’s pure focus on B2B is partly what sets it apart from many other players in the CDP sphere, though there remains some overlap with other platforms, such as D&B Lattice.
“Creating a source of truth for B2B is a very complex problem. Companies are complex — sales cycles and engagement can be sporadic, involve multiple stakeholders, and can last months or even years,” Mishor explained. “There are multiple data and intelligence point solutions that address small parts of the fundamental data issue. No other solution is taking the holistic approach of being the connective layer between raw data and engagement channels for B2B like Leadspace.”
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