Customer Data Platform Company BlueConic Raises $13 Million

By Annie Baker • Jan 3, 2020
  • Leading pure-play customer data platform (CDP) company BlueConic announced it raised $13 million in Series B funding

BlueConic — a leading pure-play customer data platform (CDP) company — announced it has raised $13 million in Series B funding led by new investor Spring Lake Equity Partners with participation from existing investor Sigma Prime Ventures as well as angel investors.

What does BlueConic do? Many brands are still using legacy technologies, agencies, and processes that are lacking the data speed, accessibility, and privacy controls required to deliver an experience that offers value in every stage of the customer lifecycle. BlueConic’s customers have adopted the CDP for liberating data and transforming businesses for the future.

CDP is projected to be a multi-billion market over the next three years, according to the CDP Institute and International Data Corp.

“In an era of consumer privacy regulations like GDPR and CCPA, brands are unprepared to orchestrate individualized marketing for every stage of the customer lifecycle while also respecting individual privacy,” said BlueConic CEO and co-founder Bart Heilbron. “Most brands still lack a single source of customer data truth down to the individual level that is accessible in real-time to marketers and their activation channels. That’s why we’ve designed our CDP from inception to meet the ever-evolving needs of the marketer, and we’ll continue to build on that foundation of flexibility as we lead the category into its next stage of maturity.”

Ever since BlueConic closed its Series A round of funding to establish its go-to-market and headquarters in the US, revenue has grown by 3,000%. And the company’s annual contract value quadrupled in the last 3 years, and annual-recurring-revenue grew by 2x last year.

This year, BlueConic enhanced its end-to-end consent management capabilities to support worldwide consumer privacy regulations and the company released AI Workbench. AI Workbench amplifies predictive modeling capabilities in the platform for both marketing and data science users.

Including this round of funding, BlueConic has raised a total of $25 million to date. And the company has over 300 customers globally, including Hearst Newspapers, Moen, T-Mobile, ING, America’s Test Kitchen, and Franklin Sports.

“BlueConic stands apart from other customer data platforms in its ability to intelligently store, segment, and activate first-party data across every possible touchpoint without sacrificing speed, flexibility, or privacy compliance,” added Spring Lake Equity Partners founding partner and new BlueConic board member Dan MacKeigan. “The company has a long history of solving this fundamental challenge in a way that other technologies were never designed, and therefore never able, to do.”