Key Acquisition and New Funding Accelerate Product Development and Go-To-Market Strategy for Startup Helping Enterprises Securely Access and Unify Customer Data
RudderStack, which provides the first open source alternative to traditional Customer Data Platforms, announced it has raised a $5M seed round led by S28 Capital with additional participation from Salil Deshpande (Uncorrelated Ventures) and Florian Leibert (468 Capital). The funding will be used to accelerate product development and rollout to larger enterprises. RudderStack also announced the acquisition of data integration company Blendo, which brought additional IP and expertise to the RudderStack team.
At most large enterprises, customer interaction happens at multiple places, from mobile-web to chat to backend systems. RudderStack provides the technical infrastructure required to bring all this customer event data together in a unified and consistent fashion, so enterprises can create value from it. RudderStack has built integrations with all of the leading customer data destinations, including Snowflake, AWS, and Zendesk, and is particularly well suited for privacy-conscious enterprises.
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Incubated at S28 Capital, RudderStack has already successfully implemented its solution with multiple customers, ranging from startups to large enterprises.
“Understanding your customers is essential. The larger the organization, the harder it becomes. RudderStack is finally here to fix this,” said Shvet Jain, Partner at S28 Capital.
Andrew Miklas, founding CTO of PagerDuty and Partner at S28 Capital, added, “With RudderStack, you can assemble a 360 degree view of your customer without the compliance and security headaches associated with sending all of your customer data to a third party aggregator. You can now get the big picture without the worry.”
With the acquisition of Blendo, RudderStack was able to incorporate Blendo’s cloud-based ELT solution into the RudderStack Customer Data Platform, and combined the teams. Blendo founder Kostas Pardalis joined RudderStack as Head of Growth.
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“With Blendo, I had the opportunity to be part of a great team that executed on the vision of turning any company into a data-driven organization,” said Pardalis. “We’ve combined the talented Blendo and RudderStack teams together with the technology that both companies have created, at a time when the customer data market is ripe for the next wave of innovation. I’m excited to help drive RudderStack forward.”
“We are very grateful for the support from S28 Capital, Uncorrelated Ventures, 468 Capital and the other angels, which will help us drive product development and roll out our platform much faster to large enterprises who need a secure way to collect and merge their customer data for more informed decision making,” said Soumyadeb Mitra, CEO of RudderStack. “With the addition of Blendo leadership, we have built an even stronger team and deeper technology infrastructure. The next phase for RudderStack’s is fast growth, hiring and expansion of our solution to large data-driven enterprises who are looking for a security-focused platform for actionable insights and real value from their customer data.”
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