One of San Diego’s fastest-growing software startups just got substantially bigger. Seismic, which recently earned a $1 billion valuation, has acquired a large marketing software company in New York City called Percolate.
Financial details of the deal were not disclosed, but it’s likely the purchase wasn’t small. Percolate had raised over $100 million in venture capital since its launch in 2011, backed by major investors, including Sequoia Capital and Light Speed. The company has built a software tool to help companies manage their content marketing campaigns, bringing on major customers such as DocuSign, VMWare, Electronic Arts and DHL.
Seismic, which recently closed a $100 million venture capital deal last December, is snapping up Percolate to complement its own software for businesses. The two companies weren’t technically competitors — Seismic makes a software tool for big, enterprise sales teams, not marketing campaigns. But the two products will play nicely together.Read Complete Article