mParticle’s track record of working with some of the world’s largest brands in the world is unmatched in the Customer Data Platform industry.
NEW YORK (PRWEB) March 02, 2020
mParticle, the Customer Data Platform (CDP) of choice for multi-channel consumer brands, today announced it raised $45 million in Series D funding led by Arrowroot Capital with participation from existing investors to accelerate the growth of its platform. With the round, Matthew Safaii, Managing Partner at Arrowroot Capital, will also join the mParticle Board of Directors. Additionally, mParticle announced one-of-a-kind capabilities in the Customer Data Platform space, which allows brands to expand their reach to deliver exceptional customer experiences through its partnership with LiveRamp® (NYSE:RAMP).
In today’s world of increasing privacy regulation, brands must embrace infrastructure that provides a holistic approach to balancing their personalization needs with customers’ privacy rights and expectations. As more data is created and consumed across more systems, touchpoints, and tools than ever before, it’s become a universal need to connect these systems and data sources to drive personalization while respecting consumer privacy needs. While the challenge around providing world-class personalization has increasingly become more complex, most solutions have proven themselves ineffective due to their limited channel scope.
mParticle already helps brands unify their data sources, ensure data quality, and enable connections to hundreds of marketing and analytics APIs. Since its founding in 2013, mParticle has continuously expanded and improved its core product offerings with new core features as well as strategic partnerships to provide the greatest scale of customer data collection, transformations, and usage for engineering, product, marketing, and analytics functions at leading B2C startups and enterprise companies. mParticle continues to demonstrate its success in delivering exceptional experiences for its customers through further adoption by leading brands in 2019, including:
- Six of the top ten food and beverage brands
- Three of the largest financial services brands
- Two of the top travel and hospitality brands
- Four of the largest media and entertainment brands
- The largest retailer in the U.S. and several of the largest eCommerce brands.
The funding round brings mParticle’s total amount of capital raised to over $120 million and will be used to invest in critical areas of growth, including:
- Further development of innovative solutions to help brands improve the quality of their data: Data quality is not only the foundation for better customer experiences and insights but is also critical for proper governance and privacy solutions.
- Scaling its global infrastructure to meet the needs of international privacy regulation and data sovereignty: Already trusted by several hundred global brands such as NBC Universal, Spotify, and Burger King, mParticle will be making some exciting upcoming announcements on new capabilities to improve data governance and data sovereignty for global brands.
- Building out key partnerships to help brands augment their understanding and the value of their data, beginning with today’s LiveRamp announcement.
“Better customer experiences begin with better data and better integrations,” said Michael Katz, co-founder and CEO of mParticle. “The expectations that consumers have are constantly growing, and meeting the needs of the brands who deliver those experiences are constantly evolving. Today’s announcement is a significant milestone on our journey to deliver our broader vision, and we couldn’t be more thrilled to partner with the team from Arrowroot.”
“mParticle’s track record of working with some of the world’s largest brands in the world is unmatched in the Customer Data Platform industry,” said Matthew Safaii, Managing Partner of Arrowroot Capital. “mParticle has long placed emphasis on combining great technology with great people, and we are excited to lead this current round of funding to support their continued growth.”
Newly-available audience reach extension capabilities provide brands with a first-of-a-kind solution that combines the speed and flexibility of mParticle with powerful enrichment capabilities through a series of strategic partnerships, starting with LiveRamp. With “LiveRamp for Targeting,” brands can augment both their identity resolution capabilities, as well as the number of platforms where they can engage with their audience. This joint offering creates the largest surface area for customer engagement by extending mParticle’s 275+ event and audience integrations to now include 550+ LiveRamp-powered integrations with leading measurement and media partners.
“We want to provide our customers with the best data and identity foundation that helps them drive unprecedented marketing performance at scale,” said Todd Schoenherr, Head of Identity at mParticle. “Our partnership with LiveRamp is the first of many that will help our customers exponentially expand their reach to deliver exceptional customer experiences wherever their consumers may be.”
“As we continue to elevate the omnichannel customer experience, we need to re-architect an entire infrastructure that prioritizes and preserves trust,” said James Arra, president and chief commercial officer at LiveRamp. “Our partnership with mParticle honors the integrity of the commitment, and moves us one step closer toward creating parity in the value exchange between marketers and consumers.”
The new offering will help brands:
- Increase audience addressability: Combine first-party identifiers currently in mParticle with third-party identifiers beginning with LiveRamp’s Identity Graph—the largest neutral deterministic graph on the open web—to deliver personalized experiences anywhere, anytime.
- Increase speed of onboarding: Reduce time-to-value by driving activation in real time.
- Improve privacy controls and governance: Safeguard customer choice and privacy across all channels with improved customer profile management by combining user identifiers in mParticle with third-party identities.
For additional details on audience reach extension, including the LiveRamp (NYSE:RAMP) partnership, visit https://www.mparticle.com/blog/audience-reach-extension-liveramp.
mParticle is the Customer Data Platform of choice for multi-channel consumer brands. Sophisticated marketers, developers, product managers, and data scientists at companies like Spotify, Paypal, NBCUniversal, Starbucks, and Airbnb use mParticle to integrate and orchestrate their entire marketing stack, enabling them to win in key moments of the customer journey. Founded in 2013, mParticle is headquartered in New York City with offices in San Francisco, Seattle, and London and manages more than 500 billion API calls monthly. For more information, please visit http://www.mparticle.com.
About Arrowroot Capital
Arrowroot Capital Management is a global growth equity firm based in Santa Monica, CA, focused on minority, majority, and buyout investments in B2B software companies. The firm serves as a catalyst for growth-related initiatives by partnering with management and leveraging its deep enterprise software expertise to deliver meaningful, tangible value. Arrowroot has the flexibility to pursue opportunities of varying sizes, as well as a broad range of transaction types. Arrowroot also targets add-on acquisitions for its portfolio companies with a wider range of sizes and general criteria. For more information, please visit http://www.arrowrootcapital.com.
Head of Digital, mParticle