Percolate, a US-based enterprise content marketing platform backed by public relations firm WPP, received $32m in funding yesterday.
Venture capital firms GGV Capital, Sequoia Capital and Lightspeed Venture Partners provided the capital alongside investment fund Capital IP Investment Partners.
Founded in 2011, Percolate provides software that helps enterprise clients to organise, plan and execute marketing campaigns. Its customers include payment services firm Mastercard, networking equipment supplier Cisco and game developer Electronic Arts.
Percolate will put the funding toward strengthening its market position and driving further technology development. It has raised more than $106m in equity financing to date.
Lightspeed previously led the company’s $40m series C round in 2015, participating together with Sequoia Capital, GGV Capital, First Round Capital and Lerer Hippeau.
WPP had participated in a $24m series B round for Percolate in 2014 that included GGV, Sequoia, First Round and Lerer Hippeau. Its earlier backers include Neu Venture Capital, SV Angel and Advancit Capital as well as assorted angel investors.
Randy Wootton, chief executive of Percolate, said: “At a time when our customers are facing an explosion of channels, markets, and devices – often with limited budgets – we provide the tools that help them get the most out of their content and expand the capabilities of their teams.
“We are delighted to add CapIP to our list of talented and supportive investors. This financing demonstrates the exciting traction we are gaining and the opportunity that lies ahead.”
