Bengaluru and Germany-based Zeotap, the next-gen customer data platform, has announced raising an $11 million extension to its Series C funding round. The extension follows the company raising $42 million in July 2020, which was followed by an initial extension of $18.5 million in November from SignalFire’s Breakout Fund.
This new extension is aimed at enabling new investors such as Liberty Global Ventures to come on board, following oversubscription to previous rounds. Other new investors include Richard Pennycook CBE (former chief executive officer, Co-operative Group) as well as senior executives across global SaaS and retail.
The new round brings the company’s total funding raised to $90 million, fuelling Zeotap’s drive to provide solutions for marketers facing a privacy-first future.
Zeotap’s customer intelligence platform (CIP) was launched in 2020 as the next-generation customer data platform (CDP), designed to deliver on the more challenging compliance requirements of the European market. ID+, Zeotap’s Universal ID solution, was also launched last year to enable brands and publishers to resolve identities at scale when third-party cookies are deprecated in 2023.
“With our last investment round and extension so oversubscribed, we’re pleased to now have the opportunity to bring new investors on board,” added Daniel Heer, founder, and chief executive officer, Zeotap. “This further fuels the incredible momentum that we’ve generated since the launch of our platform, and we’re excited to have even more support on this journey.”
Since its last extension round, Zeotap claims to have reported 126 percent ARR growth in 2020 (a 201 percent y-o-y growth in subscription revenue). The company has also signed several new clients, including Virgin Media, DER Touristik, and Nestlé, and partnered with over 60 leading European publishers on ID+.
“Zeotap’s drive to put privacy at the heart of customer data initiatives is unique in the space and arrives exactly when the market needs it more than ever,” said Kay Schwabedal, chief digital officer, Virgin Media O2, Liberty Global’s UK Joint Venture with Telefónica. “It’s no surprise that this has resulted in an incredible growth trajectory, and we’re thrilled to be on board to support this mission.”
Zeotap recently announced the launch of Predictive Audiences, which enables users of Zeotap’s platform to create and activate machine-learned segments without needing data science expertise.