Series E Funding Round Is Led by Coatue with Participation from Existing Investors Tiger Global Management and Battery Ventures
Kustomer, the SaaS platform reimagining enterprise customer service, announced it raised $60 million in Series E funding. This latest round of financing was led by Coatue with participation from current investors Tiger Global Management and Battery Ventures. Over the last 18 months, Kustomer has raised $161 million of funding across four rounds, bringing the company’s total funding to $173.5 million.
“Kustomer is transforming customer service as we know it. At a time when consumers want intelligent, personalized attention, the most forward-looking companies are turning to Kustomer to help them exceed expectations,” said CEO and Co-Founder Brad Birnbaum. “We are seeing rapid adoption over legacy brands like Salesforce and Zendesk and are in a position of strength across all key business metrics as we raise our Series E. With this latest fundraise, we plan to continue our global expansion and heavily invest to help our clients deliver exceptional customer service.”
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“Kustomer’s differentiated, omnichannel approach is fundamentally reshaping the industry standard as trends in customer service continue to shift and consumers seek increasingly personalized interactions with brands,” said Coatue Co-Founder Thomas Laffont. “We look forward to working with Brad and his team as they continue to execute their strategic growth plan.”
Founded in 2015, Kustomer empowers businesses to succeed in today’s customer-first world. Kustomer’s comprehensive solution uses CRM and provides a single view of the customer journey, seamless omnichannel communications, and the ability to automate business processes and knowledge management. The company is powering satisfaction and loyalty for some of today’s most iconic, people-first brands, including Glossier, Ring, ThirdLove, Rent the Runway, Sweetgreen, Glovo, Away, and UNTUCKit.
“’Putting Customers First’ is the most important core value we have internally at ThirdLove and our objective is to listen to, respect and delight our customers, always,” said David Spector, Co-Founder at ThirdLove. “Since we switched to Kustomer, ThirdLove’s Fit Stylists and team managers finally have the ability to meet the personalized needs of our customers, however they want to communicate with us and across every channel. Our teams are more efficient and better trained, and our customers are happier – nothing makes me more thankful as a founder!”
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During 2019, Kustomer delivered significant platform enhancements and innovation. Most recently, the company announced KustomerIQ, which embeds Artificial Intelligence and Machine Learning across the platform to enable companies to provide smarter, automated, and more personalized customer experiences. In September, Kustomer launched its first EU data center in Dublin to better serve its growing international client base. And by the end of this year, Kustomer plans to roll out next-generation CRM capabilities that will further establish the platform as the system of record for managing customer experiences.
Over the last quarter, Kustomer has also added three key executives. Gabe Larsen joined as VP, Marketing from Xant (formerly InsideSales.com). Mike Chapin, formerly of Knewton, will serve as VP, General Counsel, and Secretary. Tanya Livingstone also joins Kustomer from Knewton as VP, People. “As we look to the future and our next phase of growth, we are fortunate to have Gabe, Mike, and Tanya join us. These three leaders will play a big role in scaling our business for success as we plan to double our headcount in the next twelve months,” says Birnbaum. “I look forward to working with these talented executives and welcome them to the Krew.”
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