Amperity, a customer data platform (CDP) built for businesses to better understand their customers, announced on July 13 that it had raised $100 million in a Series D round of financing, totaling the funds raised to date of $187 Million.
Amperity plans to use the money to strengthen its research and development, grow sales and marketing, and expand internationally. This new stage of growth will allow the company to reach more clients and to further assist its clientbase to build customer profiles out of their first-party customer data.
Last year’s global boom in online shopping revenue, spiked by the COVID-19 pandemic, has led many companies to escalate demand for customer data. Companies seek platforms that allow them to use first-party customer data to drive customer loyalty. Amperity is currently one of the top companies offering this type of solution.
The startup’s approach has been to use AI-driven technology to collect customer data, merge the data and make it accessible for clients. This approach enables businesses to easily make sense of their customer data across physical visits, web traffic, mobile usage, and other touchpoints.
“Our core belief is that brands should own the relationship with their customers, yet until now have not had the tools to do so,” said Kabir Shahani, CEO and co-founder of Amperity, in a press release. “We’ve created this capability by inventing technology that identifies customers across a brand’s first-party data, creates a Customer 360, understands customers’ interests, and develops analytics to predict their intent – data and insight that are critical to success in a rapidly changing economy. We’re grateful to have crossed the rubicon at a time of unprecedented market demand, successfully delivering critical functionality for customers through a period of massive disruption.”
The funding was led by HighSage Ventures with participation from existing investors Tiger Global Management, Declaration Partners, Madrona Venture Group, and Madera Technology Partners.
Serving renowned brands such as Michaels and Crocs, Amperity reported nearly 100% revenue growth last year. This is what drives investors to contribute more money to the business.