Portland-based Lytics, which raised $58 million to create corporate marketing technologies, announced on Wednesday that it has sold to Contentstack, a Texas company. The firms only stated that it was a cash and stock deal without providing any more details about the transaction.
Based on the customer data they gather, Lytics technology allows its corporate clients to customize their marketing pitches.One of the last surviving companies from a wave of Portland startups that arose in the years following the Great Recession, it was founded in 2013.
These companies, which were centered in the downtown area, took advantage of new internet capabilities to create a thriving ecosystem in a city where software had not historically been a strong suit.
However, almost all of those firms have either sold to larger companies or shut down completely, and none of them have grown into large corporations. Lytics still employs roughly two dozen people, the most of whom live in the Portland region but work remotely, and maintains a modest coworking space in Portland. In 2019, it raised $35 million in its most recent round of investments.
According to James McDermott, the CEO and co-founder of the Portland-based company, Contentstack will keep all of Lytics’ employees. The company currently has close to 600 employees overall. McDermott will now serve as the head of data products at Contentstack.
–Mike Rogoway writes on the business and technology in Oregon. You can reach him at 503-294-7699 or [email protected].
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