ActionIQ Extends Series C to $100 Million to Solidify Lead in Fast Growing Customer Data Platform Market
- Pre-emptive, Insider-led Series C Extension Builds on Impressive YOY Growth, Major Client Wins and Customer Satisfaction Ranking That Surpasses Legacy Marketing Clouds
ActionIQ, the leading Enterprise Customer Data Platform (CDP), announced that it extended its Series C financing, bringing the total capital raised in the round to $100MM. Between this latest capital infusion and exponential growth—more than 100 percent uptick in revenue year-over-year—the extension increased the company’s valuation by over 250 percent in just the last 12 months.
Over the same time, the CDP has built an expanded roster of prominent enterprise clients across diverse industries, including The Hartford, Albertsons, JCPenney, and GoPro. These companies join a long list of blue chip brands—including The New York Times, Pandora Media, Shopify, American Eagle Outfitters, Capital Group, and NewsCorp—which have partnered with ActionIQ to successfully harness and transform masses of disconnected customer data into positive customer experiences that are vital to business growth strategies.
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“We are the only CDP that has roots in large scale data and analytics. This heritage helped us succeed with some of the biggest, most complex customer data challenges in large enterprises,” said Tasso Argyros, founder and CEO of ActionIQ. “The additional funding will allow us to double down on our market-leading product while aggressively expanding our sales, marketing, and customer success functions to capture the torrent of demand that is coming our way.”
“With ActionIQ, we’re delivering hundreds of billions of personalized customer experiences,” says Shane Murray, SVP Data and Insights, The New York Times. “These experiences go across every brand touchpoint including email, in-app, site, and paid media – increasing the scope and value of our segmentation strategy.”
“The merging of marketing and Customer Experience (CX) is happening quickly with large enterprise companies, which has spurred aggressive market demand for ActionIQ. Tasso and team are best poised to be the Customer Experience ‘category king’,” said Wes Nichols, Partner, March Capital. “ActionIQ is the only firm I’ve seen able to make this level of progress with global enterprise companies. This is due to its proprietary data pedigree, technology, and business acumen to help large brands win in the new modern CX economy. They are primed to be the premiere disruptor and all of us at March Capital anticipate amazing things ahead.”
The new funds will be used to further research and development to increase the platform’s enterprise capabilities. In addition, with ActionIQ beating out other customer data platform independents and big name legacy clouds to receive the highest satisfaction rate among marketers in Advertiser Perceptions’ latest CDP Report, the company plans to double-down on customer advocacy. The new investment will be used to dramatically increase customer community programs to build an ecosystem of modern marketers and marketing technologists that are not only data-driven, but obsessed with great customer experiences.