Zeotap, a Customer Intelligence Platform (CIP) that helps brands better understand their customers and predict behaviors, announced it has raised an $18.5 million extension to its Series C funding round from data-driven venture capital firm SignalFire. The investment was made from the firm’s Breakout Fund for growth-stage companies and is an addition to the $42 million announced earlier this year, bringing the total Series C round to $60.5 million.
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“We are humbled by the confidence our investors have placed in us”
This extension round, which closed in November, comes as Zeotap has experienced an increased demand for its customer data intelligence capabilities to serve top marketers and publishers across the globe. Zeotap plans on using the new funds to further invest in its customer data platform (CDP) and ID+ universal marketing identity products as well as accelerate the adoption of its platform across its 14 active markets.
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In addition, Zeotap welcomes two martech veterans to its board: Chris Scoggins, former GM of Datalogix, which sold to Oracle for $1.2 billion, and Taylor Barada, former VP of Corporate Development, Corporate Strategy and Strategic Partnerships at Adobe.
Commenting on the news, Chris Scoggins, Venture Partner at SignalFire, stated, “COVID-19 has catalyzed a transformation in the marketing mix as brands invest in their data and learnings to redirect traditional TV budgets to more effective channels. Our investment in Zeotap is testament to our belief in the company’s leadership, vision, and its rapidly evolving customer intelligence platform (CIP) with a built-in identity solution for the future of marketing named ID+.”
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