Customer Data Platform ActionIQ Raises $32 Million

By Dan Anderson ● January 18, 2020
  • ActionIQ, a leading customer data platform that helps enterprises utilize data for personalized experiences, announced it raised $32 million

ActionIQ — a leading customer data platform that helps enterprises utilize data for personalized experiences — announced recently that it raised $32 million in Series C funding led by March Capital Partners with participation Sequoia Capital, Andreessen Horowitz, and FirstMark Capital. Including this round of funding, the company has raised $75 million.

And ActionIQ has seen 300% growth in the past year and the company exclusively focuses on large enterprise clients. Some of the company’s clients include The New York Times, Condé Nast, American Eagle Outfitters, Gap, Vera Bradley, and Pandora. All of these clients looked at a long list of alternatives, including the major marketing cloud vendors prior to deciding to use ActionIQ.

With this round of funding, ActionIQ plans to accelerate its expansion across sales, marketing, and product R&D. And this further cemented its leadership position in the enterprise CDP segment

“Today’s consumers expect the brands they interact with to deliver personalized and relevant experiences across every brand interaction, both offline and online,” said Tasso Argyros, Co-Founder and CEO of ActionIQ. “The only way to do this is with customer data, which enterprises have troves of but have traditionally been unable to leverage. ActionIQ is changing that, and letting enterprises tap into this valuable data asset to better engage their customers. We’re bringing the level of personalization that consumers get from digital leaders like Amazon and Netflix to all brands, even ones that are based primarily in the offline world.”

Over the last year, ActionIQ processed over 30 petabytes of customer data and powered over 1 trillion personalized interactions for its customers. And the company is planning to aggressively invest in marketing and sales to continue its growth.

“As a 150-year-old company, we had significant technical and organizational hurdles we needed to overcome as we tried to better leverage our customer data to deliver a more personalized brand experience,” explained Nick Rockwell, CTO of The New York Times. “ActionIQ became an integral part of our migration to the cloud, and was able to seamlessly tap into customer data and leverage it to personalize experiences across 10+ channels, both online and offline.”

The lead investor was Meredith Finn, partner at March Capital Partners. Finn is joining the ActionIQ board.

“From my professional experience at Salesforce and Twitter, when it comes to building a relationship with your customers, data is everything,” added Finn. “ActionIQ took a data-first approach from day one in contrast to many vendors that are now scrambling to address their data gaps by duct taping data infrastructure to their existing point solutions. ActionIQ has built a truly unique platform that delivers the data, analytics, and orchestration capabilities needed at scale. The potential of such a platform is limitless, and spans well beyond traditional marketing channels to other areas of customer interactions including web and mobile app experiences, customer support, and sales.”