With IBM and Microsoft among its clients, the B2B predictive analytics company is set for expansion
Let’s say you’re a B2B marketer and someone downloads your wildly popular white paper or your app giveaway. How do you know if they’re a strong lead or not? The person might have left a name and vague job description, say, “IT manager.” Where do you go from there?
LeadSpace, a predictive analytics platform that helps medium to large B2B software companies score and learn more about leads, today announced that it has raised 18 million in new funding.
LeadSpace helps each company build a model of their ideal customer (say CMOs of eCommerce sites with tattoos, as facetiously depicted on the company’s homepage) and then score existing leads and scrape the Internet for new ones based on this model.
For instance, if “Bob Smith” leaves his details on your site, LeadSpace’s algorithm will scan the Internet and social media to learn exactly what Bob Smith does in his company and how likely he is to buy your product.
LeadSpace counts IBM, Microsoft and SAP among its reported 100 active clients.
The latest round of funding was led by Battery Ventures with participation from other previous investors.
“Leadspace has proven to double conversion rates, add millions in new revenue and fill the pipeline with the most valuable and likely-to-convert leads, making it a must-have tool for savvy B2B companies,” Doug Bewsher, Leadspace CEO said in a statement.
Leadspace uses both internal company data and external sources and combines these with human insights to score leads. This is one of the features that differentiates it from competitors, Amnon Mishor, the company’s co-founder told Geektime.