To cope with the uncertainty in the global economy brought along by the coronavirus pandemic, more and more companies are relying on Customer intelligence platforms, to figure out trends in the market and invest in their customers. Thus, this is the perfect time for platforms like Zeotap, a Berlin and Bengaluru based CIP, to expand its market share, which is exactly what it plans to do. The company has raised $42 million in a Series C funding round to that end, and will invest in improving its existing infrastructure.
The company announced today that it has raised Rs. 160 Cr in a fresh round, bringing the total valuation of its Series C funding round to $42 million (Rs 316 crore). The round was backed up by the investments of Germany-based Neue Capital, European Investment Bank (EIB)- and KfW-backed fund Coparion among others. Moreover, many existing investors, including New Science Ventures, Capnamic Ventures, Iris Capital, HERE, Innov8 (Singtel), and IONIQ, also participated in the round.
Zeotap is “a Customer Intelligence Platform (CIP) that helps companies better understand their customers and predict behaviors, to invest in more meaningful experiences.” Moreover, it enables brands to “build on a nucleus of first-party data to win new customers and grow their loyal base.” Now, with the newest investment, the company will expand its existing technological infrastructure and invest in ID+, which is a universal marketing identity solution.
Angel investors like Eric Roza, former leader of Datalogix and Oracle Data Cloud, Chris Scoggins, former General Manager at Oracle Data Cloud (among others), also saw the potential in Zeotap, and poured in capital in the CIP.
With this investment, Roza will join the company’s board of directors, reaffirming his faith in the company’s solution. He points out that Zeotap has the potential to become a prominent name in the marketing industry, a key partner to many multinational companies. The company already works with the likes of Mercedes Benz, Red bull, Pepe Jeans, and FMCG, so Roza’s faith isn’t misplaced.
“Once again, some of the world’s most established investors have placed their trust in us,” said Zeotap founder and CEO Daniel Heer. “In a tumultuous time for the industry, this will allow us to continue on our mission to deliver solutions to marketers’ most pressing problems.”
The company isn’t new to multi-million dollar investments, and raised $12.8 million and $6.4 million in its Series B and Series A funding rounds, dating back to January 2017 and April 2015 respectively.