Lovelytics Secures Strategic Investment from Databricks Ventures and Interlock Equity

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Jun 15, 2023, 07:30 ET

ARLINGTON, Va., June 15, 2023 /PRNewswire/ -- Lovelytics (or the "Company"), a leading data engineering and business intelligence consultancy, announced today a strategic investment from Databricks Ventures and Interlock Equity ("Interlock"), a Los Angeles-based private equity firm. This investment will accelerate the growth of Lovelytics' team and expand its technical offerings related to enterprise data environment creation, AI and LLMs, business intelligence, data science, and cloud infrastructure.

Databricks Ventures and Interlock Equity Invest in the Future with Lovelytics.

Founded in 2017, Lovelytics provides strategy, data engineering and technology implementation services that enable global enterprises to optimize the management, governance and utilization of organizational data. Through partnerships with technology solution providers Databricks, Tableau and Alteryx, among others, Lovelytics helps businesses better manage and use structured and unstructured datasets to develop data-based intelligence.

"This investment marks a significant milestone in our journey. I am proud to have both Interlock Equity and Databricks Ventures believing and investing in our team, mission, and vision. It's an affirmation of our hard work and dedication, helping us fuel continued growth, and reaffirming our commitment to our team, customers, services, and partners," said Scott Love, founder and CEO of Lovelytics.

The investment from Databricks Ventures in Lovelytics marks their first investment in a consulting implementation partner. Lovelytics, an official partner of Databricks since 2021, has made significant investments in hiring, solution development, and marketing in the ecosystem.

Kori O'Brien, SVP of Partnerships at Databricks shared, "Partners play an essential role in enabling our customers to derive value from data and AI and we are thrilled to build on our partnership with Lovelytics through this investment. The Lovelytics team is best-in-class and has been a driving force in helping organizations adopt the Databricks Lakehouse. We look forward to continued collaboration across all areas of our business."

Lovelytics will continue investing in initiatives to build its team, bolster diversity, equity, and inclusion, and strengthen training programs. Additionally, the firm will deepen its expertise across key sectors and broaden its client-tailored services offerings and solutions.

"Lovelytics is well positioned to capitalize on growing demand for data management solutions and consulting services. They play a critical role in enabling organizations to optimize the use of exponentially growing datasets to drive actionable intelligence that results in measurable improvements in performance. And they do that with an employee-driven culture that attracts top industry talent," said Stefan Jensen, Managing Director of Interlock.

Neil Huse, former president and CEO of Clarity Insights and an Interlock Operating Partner, added, "Lovelytics has established itself as a thought leader in data and analytics consulting. The numerous recognitions by their technology partners and reputation among clients and employees alike are a testament to the talented team and strong culture that Lovelytics represents. We look forward to building on this foundation while adding more capabilities like AI and machine learning."

Scott Love concluded, "We are eager to celebrate this milestone. The last six years were the trail leading to the mountain base. Now, with the right team, supportive investment partners, and our customers, we're ready to ascend further. We look forward to reaching new heights with companies around the globe."

Scott Love and Lovelytics' leadership team retained significant ownership and will continue to lead the business. Canaccord Genuity advised Lovelytics in the transaction.

About Lovelytics

Headquartered in Arlington, Virginia, Lovelytics is a leading data, analytics, and AI consulting firm, providing data advisory, enterprise data environment design and implementations, data science and machine learning, generative AI, data visualization, and training services to organizations across the world. For more information visit https://lovelytics.com/.

About Databricks Ventures

Databricks Ventures is the strategic investment arm of Databricks, Inc. Databricks Ventures invests in innovative companies that align with our view of the future for data, analytics and AI; and are committed to extending the lakehouse ecosystem or using the lakehouse architecture to create the next generation of data and AI-powered companies.

About Interlock Equity

Interlock Equity is a private equity firm focused on partnering with leadership teams of knowledge-based businesses. Founded in 2021 and headquartered in Los Angeles, Interlock invests in North America-based companies in the lower middle market. The firm is focused exclusively on partnering with founders of people-based businesses providing mission-critical B2B and healthcare services.

For more information visit www.interlockequity.com.

SOURCE Lovelytics