Fast-Follow Investment to Drive Data Science and Continued Growth; Major Customers Include Albertsons, ASOS, Equinox, Venmo, WeWork
Simon Data, the market-leading enterprise Customer Data Platform (CDP), announced the close of a $30 million Series C funding round to expand its mission of unlocking the power of data to deliver the next generation of customer experiences. The funding follows a $20 million Series B round in late 2018, and was again led by Polaris Partners with continued participation from .406 Ventures and F-Prime Capital. The company has raised $59 million to date.
“This is a business whose explosive growth is driven by putting their clients at the center of everything they do,” said Dave Barrett, Managing Partner at Polaris Partners. “Simon Data pairs a disruptive new data science-fueled technology with a partnership approach that’s designed to help enterprises deliver a new generation of customer experiences. They’ve emerged as a clear category leader, and this investment is all about extending that position.”
Read More: Acoustic Expands Leadership Team Following Brand Launch as Largest Independent Marketing Cloud
The modern customer’s expectations have increased pressure on enterprise brands to deliver a differentiated customer experience beyond email. This pressure has compelled brands to confront the reality of their outdated or unworkable martech stacks for the first time. The growing consensus is that data is often the limiting factor, and Simon’s approach represents the first coherent solution.
“There’s a massive opportunity for businesses of all sizes to drive better customer experiences through data,” said Jason Davis, Co-Founder and CEO of Simon Data. “Yet so many businesses today – in particular those at scale – are unable to leverage the heavy investments they’ve made in data science and infrastructure. We built Simon in partnership with high-growth, data savvy businesses that are defined by their ability to create amazing customer experiences. Our enterprise partners are now realizing the benefits of that approach.”
Most CDPs either integrate crudely into enterprise data environments or poorly into existing marketing technologies. Simon differentiates by doing both well – offering seamless, comprehensive data integration paired with AI-driven orchestration and optimization. This enables customers to meet ever-increasing consumer demands, regardless of their current martech stack.
Read More: Ceros and Getty Images Announce Expanded Integration To Deliver Stunning Video Content
The problem is compounded in the enterprise, as most larger companies leverage a combination of legacy providers to deliver customer messaging. These “all-in-one” solutions cannot adapt to the sophisticated demands of modern marketing; ultimately, they require a CDP to make them work together. Simon directly integrates into all such providers, harmonizing disparate messaging channels to deliver a superior customer experience.
Simon’s unique platform and agnostic approach have been a primary driver of its ongoing success; current clients include Albertsons, ASOS, Equinox, Venmo, and WeWork.
“The confusion around what a CDP is and does makes it nearly impossible for brands to choose the right partner,” said Joshua Neckes, Co-Founder and President of Simon Data. “The space is fraught with pretenders, retreads, and also-rans but the value is very real when properly delivered. Our focus has been pairing a clear set of capabilities with a partnership approach that helps companies deliver the outcomes they’re after. With over 250% growth and doubling our client count in each of the last two years, we think it’s working.”
Read More: Parks Associates: Free Trials Influence Over Half of OTT Video Service Subscriptions