- mParticle — a leading customer data infrastructure company — announced recently that it has raised $150 million in Series E funding. These are the details.
mParticle — a leading customer data infrastructure company — announced recently that it has raised $150 million in Series E funding led by Permira’s growth fund. And the existing investor base also participated in the round alongside new backers including former Adobe CFO Mark Garrett and New England Patriots All-Pro punter Jake Bailey.
This funding round will support mParticle’s continued global go-to-market expansion, as well as significant R&D investment as demand for customer data infrastructure continues to accelerate. And with the round, Permira principal Daniel Brenhouse will join the mParticle Board of Directors.
Creating a truly adaptive and privacy-friendly digital experience is becoming a universal brand mandate, but companies are dealing with several customer data challenges that inhibit success. And solving challenges around data quality, governance, and connectivity are the precursor to making sure that digital experiences are relevant and personalized, as well as privacy compliant.
mParticle is enabling businesses to easily manage the immense growth of data volumes moving to and from sources, systems, APIs, and applications. And using a single API, developers, product managers and marketers can manage customer data along the entire product and customer lifecycle while also addressing challenges such as data quality and governance. Plus mParticle accelerates the time to value realization by facilitating real-time syncing of customer data to over 300 analytics and marketing APIs.
As digitization has accelerated and consumer behavior has permanently changed during the pandemic, mParticle has experienced rapid growth, helping teams implement and deliver innovative customer data strategies. And new ARR grew approximately 50% in 2020 and has accelerated to over 100% year over year in 2021.
Improving data maturity within an organization has shown to materially impact growth for mParticle’s customers. And household brand names like NBCUniversal, Giant Eagle, Route, Airbnb, Drybar, Dave and Buster’s and hundreds of other leading brands have all selected mParticle to implement and execute their customer data strategies. Plus mParticle’s customer data infrastructure helps these teams improve personalization by connecting the right data to the right systems in real-time.
“The acceleration of customer data connectivity is helping drive the digital economy to new heights. These days, teams are trying to do more with less and the brands that are winning are focused on improving the trust quotient with their customers by creating better interactions driven by better data, privacy controls and open ecosystem approach. Our partnership with Permira and the latest funding will help us deliver the solution to these challenges, to more brands, at a rapid global scale.”
— Michael Katz, CEO of mParticle
“mParticle is solving a foundational data quality problem facing marketing organizations. We are thrilled to lead this investment as Michael, Andrew and the team look to supercharge their phenomenal track record of innovation in a rapidly expanding customer data platform market. Many of Permira’s most sophisticated consumer-facing companies are major promoters of mParticle and we are beyond excited to back the widespread adoption of its technology into organizations across sectors and sizes.”
— Daniel Brenhouse, Principal at Permira
“mParticle is a pioneer in customer data infrastructure and we’re excited to lead the Series E financing. mParticle is the future of the CDP market with its unique best-in-class platform; enterprise-grade capabilities; and an industry-leading feature set across integration, ingestion, security and governance. We’re excited to partner with Michael and his team to accelerate the company’s product roadmap, growth initiatives, and continued innovation.”
— Chris Caguin, Investment Professional at Permira – who will join the mParticle Board of Directors as a Board Observer following the transaction.