Percolate, a Facebook Marketing Partner, announced Thursday a $40 million round of Series C funding, led by Lightspeed Venture Partners. Additional funding was contributed by existing investors Sequoia Capital, GGV Capital, First Round Capital and Lerer Ventures.
Witht his funding, Percolate will continue its rapid growth and development of an enterprise software platform for managing marketing operations. With this latest round of funding, Percolate’s total venture funding comes in at $74.5 million. The company also plans to triple its headcount in the San Francisco office and potentially expand to Europe, Asia and Latin America.
Percolate grew its customer base by more than 200 percent in the past year, and is used by seven of the ten largest consumer packaged goods in the world. The company’s software was also recognized as a Leader in Social Relationship Platforms by Forrester Research, Inc.
James Cross, president and co-founder of Percolate, commented on the funding:
The CMO’s number one challenge is managing the complexity of modern marketing in a global economy transformed by social, mobile and software. Until recently, marketing was the only function inside the enterprise without a system of record, and now Percolate has become that foundation.