Venture Capital News: mParticle Raises $35M Series C
NEW YORK, NY, Customer data platform for every screen, announced it raised $35M in Series C funding led by Harmony Partners.
mParticle, the customer data platform for every screen, announced it raised $35M in Series C funding led by Harmony Partners, with participation from existing investors, Bain Capital Ventures and Social Capital. mParticle enables brands to unify their customer data into a single view of the customer, then easily integrate and orchestrate data to partners to deliver personalized, omnichannel customer experiences.
"mParticle has quickly become the market leader in the customer data platform space," said Mark Lotke, Managing Partner, Harmony Partners. "As more companies seek to coordinate customer experiences across digital and physical, with mobile at the center, mParticle is positioned perfectly to make this possible. We're thrilled to help support this world-class team on their next phase of growth."
According to Gartner, by 2020, the average adult will have more than six devices, including smart TVs and wearables, making identity management a requirement for marketing success.* Legacy data management solutions-including those built only a few years ago for the web-have been unable to keep pace with this complexity.
Companies including Venmo, Starwood, NBC Universal, Spotify, and Airbnb use mParticle to address modern marketing and business intelligence requirements and create next-generation customer experiences.
"The customer experience needs to be coordinated across many connected devices including mobile, connected TV, voice, web, and more. Helping brands unify data across these touchpoints creates the foundation for customer success," said Michael Katz, Co-founder and CEO of mParticle. "With the new investment, and the rollout of IDSync, we're excited to deliver on the promise to bring true digital CRM to leading consumer-facing brands."
mParticle's newly launched IDSync is the industry's first enterprise-class identity resolution offering purpose-built for omnichannel brands. IDSync enables brands to create their own fine-grained identity strategies tailored to their business, privacy, and legal needs. Unlike other identity systems, which are highly constrained to a particular identity type or application, IDSync fuels identity resolution independent of platform, provider, or use case.
The investment and launch of IDSync comes during a year of record growth and momentum for mParticle, including the company's being named an official Snapchat Partner; launching new integrations with Facebook, Google, Adobe, and Salesforce Marketing Cloud; expanding to the European market; being recognized as a Digital Marketing Hub "Vendor to Watch" by Gartner; being named one of "2017's most interesting advertising and marketing technology startups" by Business Insider; and being named one of the best places to work in New York by Crain's.
*Gartner, What Marketers Need to Know About Managing Identity, 24 July 2017
**Gartner, Magic Quadrant for Digital Marketing Hubs, 14 February 2017
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mParticle is the customer data platform for every screen. Sophisticated marketers at companies including Venmo, Starwood, NBC Universal, Spotify, and Airbnb use mParticle to integrate and orchestrate their entire growth stack, enabling them to win in key moments of the customer journey. Founded in 2013, mParticle is headquartered in New York City with offices in San Francisco, Seattle, and London and manages more than $5 billion in commerce transactions and 250 billion API calls monthly.
About Harmony Partners
Harmony Partners is a bicoastal boutique venture capital firm whose mission is to enable software entrepreneurs to optimize expansion stage financings. With offices in New York City and Silicon Valley, Harmony fills a gap in the market for entrepreneur-friendly expansion stage capital, eliminating the deal constraints of traditional growth equity firms. Because Harmony invests on behalf of large family offices, the firm has a long-term orientation and seeks to buy in its portfolio companies' IPOs. The Founding Partner has invested in over 70 technology-driven companies including Anaplan, AppDynamics, Aveksa, Coremetrics, E*Trade, Intersect ENT, Natera, Predictive Systems, Postmates, Priceline, Scopus, Spotify, SS&C, and Zerto. To learn more, please visit http://www.harmonyvp.com
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