Today Leadspace announced it has raised $46 million in growth funding led by JVP. The funding validates Leadspace as a front runner in a burgeoning Customer Data Platform (CDP) market that is estimated to generate $2.4 billion in 2020, and expand to $10.3 billion by 2025. Leadspace plans to use the funding to grow the team in both Israel and the U.S. and keep up with the increasing demand they’ve seen in the last year.
The company is also appointing Alex Yoder as its new chief executive officer, whose extensive experience leading transformative growth within the companies he’s led will now help Leadspace redefine the emergent B2B CDP category. Yoder joins Leadspace after successfully building organizations as large as $150M in annual revenue, spanning marketing tech, Ad-tech, SaaS and services.
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 (NASDAQ: CYBR, $4.7B market cap.), QLIK Technologies (NASDAQ: QLIK, then $4B market cap.) and Cogent Communications (NASDAQ: CCOI, $3B market cap.) and many 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 Erel Margalit, JVP Founder & Executive Chairman and Leadspace’s Chairman of the Board. “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,” said Margalit. “The company has added an impressive roster of new clients — including Salesforce, American Express, Zoom, Microsoft, Verizon, and more — 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. Especially in B2B, where deals are larger, take longer, and involve more stakeholders, go-to-market teams need trustworthy data on accounts, buying centers, and buyer personas to have a full picture and deliver value. Leadspace works with top enterprises to unify and activate their B2B data, giving them a source of truth that powers their sales and marketing efforts. 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. We’re excited to welcome Alex, who brings great experience helping customers use data and analytics to solve complex problems. And we’re excited to continue working with JVP to help take the platform to the next level and bring it to a wider set of B2B companies.”
New CEO Alex Yoder brings over 20 years of experience as a leader in technology, B2B, and SaaS. He has 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,” says Yoder. “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. 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.”
These announcements come on the heels of a period of exciting growth for Leadspace: in the last two years, Leadspace has seen its customer base double and was recently ranked in the Inc. 5000 list of fastest growing private companies. What’s more, Leadspace has continued releasing groundbreaking tools for B2B marketers — including a unique tool for building unified segments and custom data unification capabilities. With new funding and fresh leadership, Leadspace is eager to deliver even more innovative solutions in 2021 and beyond.