Announcing Lantern's $6.8M seed
In 2018, I was working at a cybersecurity startup. We were rapidly growing revenue and headcount, but we had a data problem. We couldn’t answer basic questions like: “Who are our champions?”, “Which accounts need to be nurtured?”, or “Who has recently talked to a customer?”. As I started to go deeper into this problem, I realized the problem wasn’t just limited to the data — it was also the tooling.
Over the past decade, the conventional wisdom in SaaS was to build narrow point solutions. As the covid fueled SaaS boom receded, the average revenue team was stitching together over 20 different SaaS tools. Each tool further scattered customer data and made it harder to deliver an exceptional customer experience.
As we enter the AI age (and a market downturn), revenue teams are reevaluating their GTM stack. Teams are looking to consolidate tools and leverage AI technology to do more with less. Unfortunately, most revenue teams won’t be able to leverage advances in AI. With 70% of customer data living outside of Salesforce, there isn’t a system of record for B2B companies to uncover insights and execute advanced workflows.
Today I’m excited to share that Lantern is announcing our 6.8M seed funding lead by Primary Ventures and Moxxie Ventures with participation from 8VC, 8-Bit Capital, Coalition and operators like David Fisher, Liat Bycel, Siqi Chen, Immad Akhund, David Eckstein, Julia Lipton, Adam Evans, and more.
Our mission is to help B2B companies scale customer obsession. To create a customer obsessed culture, you need to know everything about the customer. That’s why we’ve built the first B2B customer data platform, ingesting data from over 50 tools and popular data warehouses. Leveraging a single record of the customer and AI insights, Lantern bundles together the essential tools needed to close, retain, and expand customers. We help sales leaders forecast renewals, CS teams proactively resolve issues, AEs expand existing customers, and are rapidly expanding our product suite.
At Lantern, we want to make it even easier for businesses to drive revenue from their customer base. Today we’re launching Champion Chaser, a free tool that tracks when previous customers switch jobs and show intent to repurchase your product. Champion Chaser takes less than 2 minutes to deploy and the average customer unlocks >$500k in pipeline. Try it today.
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