Venture Capital News: Cordial Raises $15M in Series B
SAN DIEGO, CA, Next-generation email platform built on real-time data, today announced that it has closed $15M in a Series B funding, led by PeakSpan.
Cordial, a next-generation email platform built on real-time data, today announced that it has closed $15M in a Series B funding, led by PeakSpan. Existing investors Upfront Ventures and High Alpha also joined the round. Having doubled both client and revenue growth within the last year, Cordial will leverage the new funds to continue expansion of its multichannel capabilities, including mobile, browser notifications, and web forms, in order to meet the ever-changing needs of marketers.
Customer buying behavior is changing faster than most companies can keep up with. Time, place and device are now constantly shifting variables, generating a massive amount of widely dispersed data. Most legacy marketing clouds like Oracle, Adobe, IBM and Salesforce, simply weren't built to move as quickly as today's consumers, and weren't designed to process the amount of real-time customer data required to create timely, personalized experiences. Technology acquisitions and bolt-on fixes have resulted in overloaded IT teams, lengthy campaign creation cycles, and poor customer experiences. New category entrants have also struggled to activate customer data, relying on segmentation, rather than enabling true 1:1 real-time personalization.
As veterans of the email marketing space, Cordial founders Jeremy Swift, Chris McGreal and Adam Gillespie foresaw early on how the industry would progress and existing solutions would become ineffective. Instead of making iterative improvements to existing framework, they spent years coding and building an entirely new architecture with comprehensive data processing capabilities at its core. Developed from the ground up, Cordial empowers brands to create rich, personalized customer experiences based on real-time data across multiple messaging channels.
"The big four marketing clouds simply weren't architected to anticipate the amount of customer data that marketers need to track, analyze and act on in real time," said Jeremy Swift, co-founder and CEO at Cordial. "As the complexity and volume of customer data continues to grow, marketers' need for an agile solution that enables personalized communication across channels will only increase. We're thrilled to partner with PeakSpan as we continue to scale our technology and grow our multichannel capabilities."
Forward-thinking marketers are moving towards integrated customer messaging solutions. In order to keep pace with customers, solutions must combine the traditional ESP with real-time behavioral triggers and multichannel messaging capabilities that activate real-time data from web, mobile, point-of-sale transactions, and CRM systems. Innovative companies across a number of industries, including Revolve Clothing, 1-800 Contacts, La Quinta and The Mighty, are leveraging Cordial to ensure they're able to deliver relevant, personalized messaging to their customers at scale and speed.
"Our customers are incredibly dynamic and our marketplace is in the midst of a fundamental shift. We must keep pace with their needs and communicate with them in meaningful ways across multiple channels," said Andrew Watt, director of CRM at 1-800 Contacts. "Because Cordial was built with the dynamic customer in mind, it enables us to quickly convert our data into actionable insights to improve both the customer experience and our results."
One of Cordial's key differentiators is its depth of data processing capabilities, a critical strength as clients look to streamline their marketing stacks. This strength was recognized by Gartner as the firm named Cordial a "Cool Vendor in Multichannel Marketing" just last month.
"There's no doubt that Cordial is and will continue to be a category-defining company," said Phil Dur at PeakSpan. "Jeremy and team had the deep industry knowledge and keen foresight to anticipate how the email service provider industry would evolve, and the impressive tech chops to get out in front of it. We're excited to partner with them as they continue to evolve the company to meet the needs of tomorrow's marketer."
Cordial is a next-generation email and messaging platform built on real-time data. Our goal is to help marketers leverage their data to create timely, personalized experiences for their customers across channels. Instead of relying on multiple technologies and messaging providers, Cordial enables brands to simplify their processes by consolidating promotional, triggered, transactional, and lifecycle messaging to create unified brand experiences that make the customer the center of every interaction. Recently named a Gartner "Cool Vendor in Multichannel Marketing", and one of San Diego's best places to work by the San Diego Business Journal, Cordial is striving to be the last messaging provider you will ever need.
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