Company’s third and largest financing round in three years reinforces impact the platform has on world leading brands including Starbucks, Gap Inc., TGI Fridays, and Planet Fitness
Amperity, the first AI-powered Customer Data Management platform, announced it has raised a $50 Million Series C financing round from Tiger Global Management, Goldman Sachs, Declaration Partners (an investment firm backed by David Rubenstein), Madera Technology Partners, Madrona Venture Group, and investor Lee Fixel. This represents a significant milestone for Amperity, following a breakout 2018 where the company saw annual recurring revenue grow 335% over the previous year. The new round brings the company’s total funding to-date to $87 Million.
“This team has the vision, talent, and technology to drive transformation for consumer brands,” said Scott Shleifer, partner at Tiger Global Management. “They’re rapidly becoming the platform brands use to solve for disparate and inaccurate data, enabling them to more effectively personalize their customers’ journeys.”
“It’s crucial for today’s brands to be directly connected to the consumers they serve, and that can only happen when they have the ability to use the data they have about those customers,” said Kabir Shahani, CEO and co-founder of Amperity. “In just shy of two years, we’ve been able to develop a platform that, for the first time, helps companies tap into previously unattainable data and unify it so they can better understand and connect with their customers. And when customers are consistently seeing a 10x return on their investment, we know we’re delivering a solution that works. It’s incredibly gratifying to play a part in seeing our users unleash their best ideas for the very first time.”
Amperity will use the funds to accelerate new capabilities, as well as expand into new verticals including financial services, automotive, insurance, and healthcare, while continuing to grow within the retail, travel, and hospitality industries.
“Amperity has solved one of the most significant challenges facing today’s consumer brands. They’ve built a powerful platform that can unify customer data together at scale, giving companies a complete and accurate view of their customers,” said investor Lee Fixel. “It’s been exciting to watch this team execute against their vision and develop the deep technical capability required to become the clear category leader.”
“Amperity aligns with our strategy of investing in established and growing companies with proven management teams,” said Brian Stern, partner at Declaration Partners. “Amperity solves an incredibly difficult consumer data problem through an innovative and fresh approach, helping their clients harness this information to better serve their customers.”
Today’s announcement comes on the heels of the launch of Amperity’s new product offerings Stitch and Customer 360 Database. The company also recently forged a strategic partnership with Snowflake, adding to those the company already has with major industry players such as Microsoft, Slalom, and AWS. They also added a number of new customers including Lucky Brand, Planet Fitness, Servco, and Endeavor Drinks, and made key leadership appointments including former Tableau executive Lynn Girotto as the company’s first Chief Marketing Officer, and former Facebook engineering leader Aria Haghighi as Head of Data Science.