Percolate, a US-based enterprise content marketing platform backed by public relations firm WPP, has been bought by sales and marketing software publisher Seismic for an undisclosed sum, according to TechCrunch.
Founded in 2011, Percolate provides software that helps enterprise clients organise and publish marketing content, using its workflow planning interface to schedule tasks and audience response graphs to measure feedback.
The newly-merged business will have more than 800 employees and will combine Percolate’s granular marketing functionality with Seismic’s existing sales and marketing software offering.
Percolate CEO Randy Wootton will continue in his post following the acquisition, albeit now reporting to Seismic’s chief executive Doug Winter.
Percolate had accumulated approximately $107m in funding before the acquisition, including $32m from a March 2019 round backed by GGV Capital, Lightspeed Venture Partners, Sequoia Capital and Capital IP Investment Partners.
Lightspeed led Percolate’s $40m series C round in 2015 with contributions from GGV, Sequoia, First Round Capital and Lerer Hippeau, after a $24m series B in 2014 involving WPP, GVV, Sequoia, First Round and Lerer Hippeau.
Percolate’s earlier investors included SV Angel, Neu Venture Capital and Advancit Capital in addition to assorted business angels.
Wootton said: “Both of our companies endeavour to foster better alignment between marketing and sales and improve the buyer/seller interaction, resulting in accelerated deals and pipeline for our customers.
“Combining with Seismic allows Percolate to provide even more capability to our customer base and more value to the marketing ecosystem.”