- Leading Enterprise Customer Data Platform (CDP) ActionIQ announced recently it raised $100 million. These are the details.
ActionIQ — a leading Enterprise Customer Data Platform (CDP) — recently announced that it extended its Series C financing, bringing the total capital raised in the round to $100 million. And between this latest capital infusion and exponential growth—more than 100% uptick in revenue year-over-year—the extension increased the company’s valuation by over 250% in just the past year.
And over the same time, the CDP has built an expanded roster of prominent enterprise clients across diverse industries, including The Hartford, Albertsons, JCPenney, and GoPro.
These companies had joined a long list of blue-chip brands, including The New York Times, Pandora Media, Shopify, American Eagle Outfitters, Capital Group, and NewsCorp – which have partnered with ActionIQ to successfully harness masses of disconnected customer data into positive customer experiences that are vital to business growth strategies.
The new funding round will be used to further research and development to increase the platform’s enterprise capabilities. And in addition, with ActionIQ beating out other customer data platform independents and big name legacy clouds to receive the highest satisfaction rate among marketers in Advertiser Perceptions’ latest CDP Report, the company plans to double-down on customer advocacy. This new investment will be used to dramatically increase customer community programs to build an ecosystem of modern marketers and marketing technologists that are not only data-driven, but obsessed with great customer experiences.
“We are the only CDP that has roots in large-scale data and analytics. This heritage helped us succeed with some of the biggest, most complex customer data challenges in large enterprises. The additional funding will allow us to double down on our market-leading product while aggressively expanding our sales, marketing, and customer success functions to capture the torrent of demand that is coming our way.”
— Tasso Argyros, founder and CEO of ActionIQ
“With ActionIQ, we’re delivering hundreds of billions of personalized customer experiences. These experiences go across every brand touchpoint including email, in-app, site, and paid media – increasing the scope and value of our segmentation strategy.”
— Shane Murray, SVP Data and Insights, The New York Times
“The merging of marketing and Customer Experience (CX) is happening quickly with large enterprise companies, which has spurred aggressive market demand for ActionIQ. Tasso and team are best poised to be the Customer Experience ‘category king.’ ActionIQ is the only firm I’ve seen able to make this level of progress with global enterprise companies. This is due to its proprietary data pedigree, technology, and business acumen to help large brands win in the new modern CX economy. They are primed to be the premiere disruptor and all of us at March Capital anticipate amazing things ahead.”
— Wes Nichols, Partner, March Capital