Photo Credit – Iterable
Iterable, a San Francisco-based growth marketing platform for cross-channel customer engagement, announced it raised $50 million in Series C funding. Blue Cloud Ventures, CRV, Harmony Partners, Index Ventures and Stereo Capital also participated in this round of funding.
As the global marketing automation industry is a $5.5 billion business, Iterable is in a position to continue growing at a rapid pace. The company currently offers cross-channel capabilities like email, push, SMS, in-app, etc.
“Today’s consumers expect highly personalized experiences that are relevant and consistent across all their channels,” said Justin Zhu, CEO of Iterable. “Marketers are collectively spending billions of dollars to engage their customers, yet they struggle with antiquated software to manage the dynamic needs of the digital era. Currently analyzing over 1 billion customer events per day, Iterable’s growth marketing platform is the only solution that can dynamically orchestrate customer journeys in real time at scale.”
This round of funding will go towards building on the company’s triple-digit year-over-year growth Including this round, Iterable has raised $80 million in funding. With this funding round, the company will continue product development and fuel its international go-to-market expansion.
“Iterable’s sustained and accelerated growth is a testament to its ability to manage the scale of data that leading, digitally-native brands are using to compete in the post-Amazon world,” said Rami Rahal, Managing Partner at Blue Cloud Ventures. “We rarely hear rave reviews from both the marketing and tech sides of an enterprise, but that’s exactly what we hear from Iterable customers. Marketers love Iterable’s ease of use when building cross-channel campaigns, and engineers love the platform’s wide support for complex data types at scale.”
Some of Iterable’s customers include Zillow, Box, and SeatGeek. And they use Iterable for managing their marketing to more than 2 billion of their subscribers. And a recent Forrester Consulting study pointed out that investing in Iterable has yielded a 700% ROI for clients.
