Lithium Technologies, an Emeryville, California-based provider of cloud-based Social Customer Experience solutions, has completed a $53.4m financing.
The round was led by new investor New Enterprise Associates, with participation from new investor SAP Ventures, as well as all existing investors Benchmark Capital, DAG Ventures, Emergence Capital, Greenspring Associates, Shasta Ventures and Tenaya Capital.
The company intends to use the funding to increase sales and marketing efforts across new and existing geographies, grow its digital agency ecosystem and increase ongoing investment in engineering, new product development and service delivery for existing customers.
Led by President and CEO Rob Tarkoff, Lithium provides clients with a single social platform to create communities of passionate customers that extend their support, marketing, and sales teams.
Clients include AT&T, Barnes & Noble, Best Buy, Sephora, Univision, Home Depot, and HP, and others in markets such as retail, consumer products, travel and leisure, technology, telecommunications, automotive and financial services.
In conjunction with the funding, Pete Sonsini of New Enterprise Associates, will join Lithium’s board of directors.