In a Series C funding round announced Thursday, Percolate raised $40 million to back new hires and the development of its enterprise software platform for marketing management.
Headquartered in New York, Percolate plans to use some of the funding to ramp up its ranks at its San Francisco office, says Noah Brier, CEO and co-founder. “We started this year with four or five people in San Francisco,” he says. “We would look to have between 40 and 50 there by the end of the year.”
Hiring is already underway, Brier says. Overall, Percolate has a staff of 205. “We will be somewhere around 300 people by the end of the year,” he says. Percolate also has offices in Austin, TX and London, with further expansion being considered for Latin America, Europe, and Asia.
There are many developers of marketing management software, particularly in New York. Brier says what sets his company apart is its software consolidates many disparate marketing operations and functions into one platform. “There are lots of players who focus on just the social piece or just the analytics piece; we’re focused on a full end-to-end product,” he says.
Lightspeed Venture Partners led the latest funding round, with GGV Capital, Lerer Hippeau Ventures, Sequoia Capital, and First Round Capital participating. Thus far, Percolate has raised $74.5 million in total funding.
Prior to founding Percolate, Brier says he worked in the agency industry at companies such as The Barbarian Group. Co-founder James Gross, president of Percolate, came from Federated Media.
