MParticle, which supports companies such as Spotify, Paypal, and Starbucks to manage their customer data, is declaring that it has managed to raise $45 million using a Series D funding.
TechCrunch reported that Michael Katz, who is the Co-founder and CEO has said that the company has leveraged from the wider shifts, such as latest privacy regulation and the move away from cookie-based browser tracking that raises brands’ requirements for a platform such as mParticle that utilizes “modern data infrastructure” to provide a personalized experience for customers without running afoul of any regulations.
As a result, he said mParticle has about quintupled its revenue since it raised a $35 million Series C in 2017. (The company has risen more than $120 million in total.)
“The challenges that we solve are universal,” Katz stated. “It doesn’t matter if there’s a small company or big company. Data fragmentation, data quality, consistent change in the privacy landscape, consistent change in the technology ecosystem, these are universal challenges.”
Supposedly for that very reason, a whole industry of customer data platforms has fostered up since the founding year of mParticle, back in 2013, all providing tools to support marketers make a single view of their customers by merging data from various sources. Even big players such as Adobe and Salesforce have declared their own CDPs as part of their larger marketing clouds.
When questioned about the competition, Katz stated, “The market has responded overwhelmingly by saying, ‘I don’t want one vendor to rule everything for me.’ Why be beholden to one suite of tools that’s just an amalgamation of products that were built in the early 2000s?”
Instead, he argued that mParticle customers wish “a best-in-breed combination of independent solutions that can be integrated seamlessly.”
Getting back to the latest funding — Arrowroot Capital led the round, with the firm’s managing partner Matthew Safaii joining mParticle’s board of directors. Existing investors also participated.
Katz said the funding is going to be spent in three-wide areas: developing new products, amplifying its global data infrastructure and identifying new partners. In fact, the company is also declaring a partnership with LiveRamp, through which mParticle customers can integrate their first-party data with the third-party data from Liveramp.
“We see this partnership with Liveramp as an opportunity to extend the surface area by which our customers can deliver highly personalized, privacy-friendly experiences,” Katz said.
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