Toronto-based marketing technology company LookBookHQ has raised $11 million for its Series B of growth funding.
The second instalment of investment provided by Edison Partners follows Series A of funding that saw the company’s revenue triple in the past 18 months.
The funds will be used to accelerate the innovation of the company’s Intelligent Content Platform and expand employee numbers to over 100 by the end of 2017 to support LookBookHQ’s growing amount of enterprise clients.
The Intelligent Content Platform integrates with marketing tech stacks to deliver and evaluate the performance of all digital marketing, driving audiences to the ‘most relevant’ content, with marketers receiving notifications of a potential sale.
Gregg Michaelson, operating partner at Edison Partners, said: “Since our initial investment one year ago, we have witnessed the rapid adoption of the LookBookHQ Intelligent Content Platform among enterprise-level marketers.
“With these additional funds, we’re confident that the talented LookBookHQ team will rapidly scale this transformation, changing the way virtually every company delivers and measures their marketing.”
There’s been a rise in ABM
A rise in the discussion and uptake of account-based marketing in the past year could explain the increase in funding to an ABM vendor such as LookBookHQ. In fact, two-thirds of B2B Marketers are currently discussing ABM and a third are currently implementing it.
Eric Wittlake, senior analyst at TOPO, said: “We are seeing today’s marketing technology offerings evolve to support the needs of account-based organisations. We expect this to accelerate, with the majority of new B2B martech funding going to companies that support account-based.”
