Lithium Technologies, a San Francisco, CA-based provider of a Social Customer Experience platform, raised $50m in pre-IPO mezzanine financing.
Backers included global institutional investors and existing investor New Enterprise Associates (NEA). In addition to the funding, Lithium named former Yahoo! executive Tapan Bhat as Senior Vice President and Chief Product Officer to drive ongoing product strategy, and appointed NEA Venture Partner Brooke Seawell to its board of directors as audit committee chairman.
The company intends to use the funds to further advance its technology platform, expand its global presence and execute strategic acquisitions.
Led by President and Chief Executive Officer Rob Tarkoff, Lithium provides global brands with the SaaS-based Social Customer Experience™ platform that aims to help them build and engage customer communities to drive sales, reduce service costs and grow brand advocacy.
Customers include more than 300 brands including AT&T, BT, Axiom Telecom, Barclays, Best Buy, eBay, Indosat, Sephora, Skype and Telstra.
The company has offices across Europe, Asia and Australia.