PE, VCs, Ameriprise, and T. Rowe Bet $170MM More On an Ally to AMs
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Tuesday, August 17, 2021

PE, VCs, Ameriprise, and T. Rowe Bet $170MM More On an Ally to AMs

Folks at T. Rowe Price and Ameriprise (Columbia Threadneedle's parent), alongside private equity and venture capital firms, are betting again on a sales enablement and marketing technology provider that supports asset managers. The new funding values the firm at $3 billion and comes as they're making an acquisition.

William H. "Bill" Finnegan
Managing Director, Financial Services Marketing
Yesterday, Doug Winter, co-founder and CEO of Seismic, confirmed that the San Diego-based company has closed its series G round of funding, raising another $170 million. The round features a host of existing investors, including: Permira, series G round leader and leader of Seismic's $92-million series F round, which closed less than a year ago; JMI Equity, which led Seismic's $20-million series B round back in 2015; Lightspeed Ventures, which co-led Seismic's $100-million series E round back in 2018; Jackson Square Ventures, which led Seismic's series A round back in 2013; Ameriprise, which joined Seismic's series F round last year; and funds advised by T. Rowe, which co-led Seismic's series E round back in 2018. Seismic's total funding is now estimated at $426.5 million.

Also yesterday, Winer and Max Yoder, CEO of Lessonly, confirmed that Seismic has acquired nine-year-old, Indianapolis-based Lessonly. The Lessonly team serves more than 1,200 companies, while the Seismic team supports nearly 2,000. (They did not publicly reveal how much client overlap they have.) Bill Finnegan, a former fundster, serves as Seismic's managing director of financial services marketing.

Seismic's new purchase specializes in coaching, enablement, and training, so watch for the Seismic and Lessonly teams to integrate their offerings for asset managers and other institutional clients. According to the Lessonly team, they'll also be further expanding their team, both in Indianapolis and elsewhere, as well as those who are remote.

"Our respective teams and customers are going to see big gains as a result of this deal, as will the city of Indianapolis," Yoder states.

Winter notes that Lessonly had already "become a close strategic partner" of Seismic.

"We have forged strong ties across our teams, complementary capabilities, and joint customers," Winter states. "Together, we are a stronger and smarter sales enablement platform."

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