Year founded: 2012
Founders: CEO James McDermott and CTO Aaron Raddon. McDermott and Raddon met while working in the web analytics industry where it became apparent that companies were moving toward more personalized marketing that takes advantage of customer-data management.
Raddon first encountered the importance of customer data management while helping a major university integrate disparate data sources about students — e.g., tuition payment, participation in classroom online forums and more — to determine when students might be on the verge of dropping out in order to plan retention efforts.
Together, McDermott and Raddon knew that many companies would enjoy integrating data about their customers to personalize engagement efforts. Thus, Lytics was formed.
Headquartered in: Portland, Ore.
Number of employees: 40
Number of customers: Our customer number is private, but some customers include Nestle, Hearst, R/GA, DirectTV, Intel and the Clymb.
Funding to date: $9.2 million
Awards: Gartner named Lytics a "Cool Vendor" in 2015.
When was your latest major platform release, and what did it entail? The Lytics Customer Data Management (CDP) platform, the company's flagship product, was launched to the public in October 2014 to help enterprise customers automate personalized marketing.
The Lytics CDP connects a company's marketing data about customers from multiple sources (e.g., structured, unstructured, anonymous and known profiles) and creates behavior-rich user segments (e.g., likely to churn, most active on mobile, coupon lover). These customer segments then sync with a company's marketing tools — from website personalization and ad retargeting to email marketing and content optimization — to improve marketing campaign results and reduce inefficiencies.
The Clymb, one retail customer, used Lytics to connect previously segregated customer data sources (email, web, social, mobile) to better personalize the marketing on site and off. Within three months of using Lytics, the Clymb reduced marketing spending by 80 percent while increasing online orders.
What is one thing you have that no one else does in this space? Many marketing technology vendors claim customer data management, yet in reality deal with only one or two types of data such as those customers who've signed in via a social media tool or provided an email address. Lytics builds a profile based on any fragment of customer information using sophisticated data science and conducts probabilistic matching to merge identities. The result: a golden record for each consumer.
What can we expect in terms of innovation in 2016? Customers can expect some major product announcements from Lytics in 2016, which will help them glean more from their customer data and get up and running more quickly with their personalized marketing efforts. In the meantime, customers will enjoy incremental improvements to the core platform using machine learning, predictive scoring and additional integrations with top marketing-tool vendors.
Customer take: Tyler Bullen, optimization manager at Simple Finance Technology Corp., a Portland, Ore., technology company that is "changing the way people bank and think about their money," has been using Lytics since September 2015.
"By helping combine marketing data that comes from multiple sources, including client side web behavior and server side data, Lytics serves as our customer hub for all audience segmentation," Bullen told CMSWire. "There's always room for improvement: some of that room lies in us getting more sophisticated with our targeting, and some lies in Lytics continuing to improve their product."