mParticle raises $17.5 million Series B
mParticle, the leading customer data platform, announced a $17.5 million Series B, led by new investor, Bain Capital.
mParticle, a company that works with app-makers including Airbnb, Spotify, and Jet to help them manage all their customer data, has raised a $17.5 million Series B round.
The firm focuses specifically on mobile, helping companies build a picture of their customers and their behavior as they use their apps across different devices. It then uses that information to shape their clients' marketing, customer relationship management, segmentation, or inform new product development.
Michael Katz, mParticle cofounder and CEO, told Business Insider the new financing will help the company expand into new markets, including EMEA and APAC. It currently has 45 employees across two offices in New York City and San Francisco.
Additionally, he wants to use the round to fuel research and development and says there will be more product announcements coming in the next quarter.
"Our biggest competition is the status quo and getting people to change their bad behavior [such as] taking a reactive and tools-centric approach rather than formulating a thoughtful strategy around extracting the most leverage and control out of customer data so they don't have to worry about Google and Facebook having control of their data," Katz said.
Katz declined to comment on mParticle's revenue other than to say it will grow four-fold between 2015 and 2016.
The funding round was led by Bain Capital Ventures and brings the company's total funding to $37 million. mParticle's previous investors include Social Capital, Bowery Capital, Golden Venture Partners, and rapper Nasir "Nas" Jones, who participated in the company's seed round.
Katz said Nas is still involved with the company on an occasional basis and delivered the keynote and performed at mParticle's conference back in May.
"[His keynote was about] getting the perspective of someone like him and how technology and mobile has impacted his life, not only as an artist, but also as a father and as an investor," Katz said. "It's awesome for me as a friend of his, and a fan, it was just an incredible experience. As great as he is as an artist, that kind of paled in comparison to how he is as a person — he's genuinely one of the best people I know."
Nas has invested in dozens of companies including Philz Coffee, Change.org, Genius, and Coinbase.