Neolane Lands $27 Million Investment

Conversational marketing technology vendor Neolane has announced that it has closed a $27 million financing round with Battery Ventures, who already pumped $50 million into revenue performance management (RPM) software provider Marketo last November. Neolane announced the funding will be used to expand the company’s presence in the global marketing technology industry, particularly in North America, by bolstering its own sales, marketing and product development efforts.

Battery Ventures Vice President, Morad Elhafed, said:

Neolane has successfully carved out an impressive footprint within the marketing technology space. We are optimistic about Neolane’s expansion goals and the overall future growth trajectory of this category.

Conversational marketing technology is the software that enables companies to interact with their customers one-on-one. According to Neolane, ‘nearly 400′ B2C and B2B customers use their software in their organizations.

Stephane Dehoche, president and CEO of Neolane, commented:

This new investment by Battery Ventures is a strong endorsement from a top tier firm that has a clear understanding of the market. This funding will help drive greater adoption and increase visibility for what’s truly possible with the technology. We feel that many marketers have only scratched the surface in terms of the impact our conversational marketing technology can have on overall marketing effectiveness, revenue generation and loyalty. This funding will help drive greater adoption and increase visibility for what’s truly possible with the technology.

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