Lattice’s big data platform, salesPRISM, provides cloud-based applications for sales and marketing.
According to IDC, the market for big data technology and services is expected to grow from $3.2bn in 2010 to $16.9bn in 2015, a compound annual growth rate of 40 per cent or about seven times that of the overall information and communications technology (ICT) market.
Following the deal, Pete Sonsini, a general partner at NEA, will join the Lattice board of directors.
“Lattice has found a sweet spot of Big Data by applying it to what’s front and center in every business: sales growth,” said Sonsini. “It’s evident in the company’s rapid ascent, customer success and ability to draw top talent. We are delighted to partner with the company and look forward to helping them define the standard for Big Data applications.”
NEA, one of the world’s largest venture capital firms, and has participated in the enterprise market through investments in companies like Box, salesforce.com, SugarCRM and Workday.
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