- Cordial recently announced it closed $50 million in funding. These are the details.
Cordial – a cross-channel marketing and data management platform for brands to communicate in personal and intelligent ways – announced recently that it raised $50 million in a Series C venture round to drive personalized experiences for consumers. NewSpring led the funding round with new investor ABS Capital. This funding round brings the total investment in Cordial to $85 million including funding from previous investors High Alpha and Upfront Ventures.
Cordial plans use the funds to bolster its product offerings, expand its global presence, and redefine marketers’ expectations of cross-channel engagement. Plus this new capital enables Cordial to:
1.) Launch new platform enhancements that let enterprise marketers create new revenue streams and maximize the value and impact of each customer message.
2.) Transform how marketers activate data, setting new precedents for the amount and type of first-party data possible in 1:1 customer engagement.
3.) Continue propelling marketers toward data-first customer engagement and reshape the category by balancing best-in-class technology with a partnership-focused approach.
Cordial is uniquely positioned to lead with its robust, reliable, and innovative platform – which includes native messaging channels and customer data platform capabilities built into its core. And Cordial empowers companies to easily and instantly access incredible amounts of first- and zero-party data to engage customers in highly personalized ways across email, SMS, mobile app, and other channels. And Cordial clients have witnessed a 250x return on investment by using the platform.
Along with the investment, NewSpring Growth Partner Brian Kim will join Cordial’s board of directors and ABS Capital Partner Bion Ludwig will serve as an observer on its board of directors. And Kim and Ludwig bring extensive operational knowledge and resources to further enhance Cordial’s mission to empower marketing teams to create personal relationships with every customer.
KEY QUOTES:
“The fundamentals of customer engagement have radically shifted. If marketers are not connecting all of their data to marketing execution they are at a significant disadvantage. Cordial gives marketers the technology and tools to use customer and business data for hyper-personalized messaging in real-time, in one platform. We created Cordial with great intention, building for this new horizon of customer engagement. Cordial gives marketers the ability to use data to engage customers in ways that legacy Marketing Clouds and next-generation providers simply cannot. This new capital allows us to create even more ways for enterprise marketers to deliver outsized value to their customers while continuing to transform our category.”
— Jeremy Swift, CEO and co-founder of Cordial
“Cordial stands out in its ability to consistently deliver value to marketers in need of a dynamic answer and all-in-one solution for personalization and automation. Cordial offers what other solutions lack in breadth, scalability, and enterprise-grade support, truly partnering with marketers to make the most of their first- and zero-party data. We are excited to partner with Jeremy, Cordial’s leadership team, and our co-investors as the company continues to redefine customer engagement.”
— NewSpring Growth Partner Brian Kim
“We are impressed with the innovation and intention Cordial and its leaders are executing within a market keen for a transformation. A combination of a great product and an even better company culture drives Cordial’s growth, and its track record shows its potential to outpace legacy providers. Investing alongside NewSpring in Cordial’s innovative team and technology was an easy decision — its mobile, email and SMS products outperform the competition.”
— ABS Capital Partner Bion Ludwig
