mParticle raises $17.5 million In Series B funding
New Funding Led by Bain Capital Ventures to Fuel Cross-Channel Evolution; Company Set to Hit 4x Revenue Growth Year-Over-Year
NEW YORK, NY October 13, 2016 – mParticle, the multi-screen customer data platform, today announced that it has closed a Series B funding round of $17.5M led by new investor Bain Capital Ventures along with existing investor Social Capital. The company, on track to hit 4x its 2015 revenues in 2016, also announced the hiring of new sales leadership and the availability of new APIs to enable brands to do more with their data in the mobile era.
“Too much valuable customer data is being ignored,” said Michael Katz, CEO and co-founder of mParticle. “For the first time, brands can get a complete view of the customer journey across their web, app, and server data, not to mention the data generated by all their SaaS tools. With this unified perspective, they can at last deliver on the promise of multi-screen personalization and marketing across paid and CRM channels.”
mParticle serves as the data platform of record to many of the world’s leading brands, helping improve marketing and analytics output. The mParticle platform unifies data collection and makes it easy to connect that data to the variety of analytics, marketing, and data warehousing services that brands use to drive growth. The company has grown to manage over 1 billion mobile users each month, capturing over $5 billion in ecommerce transactions, and processing over 250 billion API calls.
In addition to longstanding relationships with renowned customers including Airbnb, King, and Spotify, mParticle has added several more App Store category leaders to its roster since announcing Series A funding in January, including Jet, Hulu, Foursquare, Postmates, and Chic Fil A. mParticle is now used by more category-leading mobile brands than all other customer data platforms combined.
The company has also introduced several major new product enhancements in the past year. Product highlights include: launching tvOS support for AppleTV; launching support for Google Accelerated Mobile Pages (AMP); doubling the number of service partner integrations, from 60 to 120; releasing an integration with Google BigQuery; releasing integrations with all three leading marketing clouds (Adobe, Oracle, and Salesforce); releasing cross-device identity matching capabilities; and, implementing industry-leading encryption and security controls.
The $17.5M in additional funding brings the company’s total capital raised to $37M since inception in 2013. The new funding will be used to bring even more industry-leading multi-screen products to market and enable the company to scale operations. Scott Friend, who led the investment for Bain Capital Ventures, will join the mParticle Board of Directors. Max Clark has joined the company as the Chief Revenue Officer to lead the global sales force. Prior to joining mParticle, Clark was Vice President, Sales for the Oracle Social Cloud.
“We were attracted to how mParticle created the data platform for the next generation of mobile marketers and how it’s now being used by more traditional marketers for whom mobile is of paramount importance but not their only concern,” said Scott Friend, Managing Director at Bain Capital Ventures. “The team that’s been assembled here has had an incredible amount of prior success scaling marketing and advertising technology businesses, so we are big believers not only in the vision but also in their ability to execute upon it.”
mParticle is also announcing today it has launched a new Profiles API. The API enables any customer to query a user record in their mParticle account and append that customer data to any existing system for a more complete view of the customer journey. For example, a customer service rep responding to a help desk ticket would be able to easily review a customer’s full set of behaviors across web and app, to understand if the user is a frequent user, if they use the app or website more often, and what they were doing leading up to the issue they encountered.
Founded in 2013, mParticle is the leading customer data platform that unlocks the full power of data for businesses. The company empowers brands to accelerate their growth strategy to keep pace with their customers by providing the most advanced data platform for web and apps across all devices in the marketplace. A trusted partner among renowned brands such as Airbnb, Foursquare, Hulu, King, and Spotify among many others, the mParticle platform has grown to manage over 1 billion mobile users each month, capturing over $5 billion in ecommerce transactions and processes over 250 billion API calls. Recognized as one of Crain’s 100 Best Places to Work in New York City and named to Gartner’s “Cool Vendors in Mobile App Development” list, mParticle has 45 employees and is headquartered in New York City with offices in San Francisco.
About Bain Capital Ventures
Bain Capital Ventures (BCV) partners with disruptive B2B startup founders to accelerate bringing their ideas to market. The firm’s investments range from seed to growth stage in enterprise software, infrastructure software and in industries being transformed by data. BCV has helped launch and commercialize more than 200 companies since 1984, including select prior investments in DocuSign, Kiva Systems, LinkedIn, Rapid7, SurveyMonkey and TellApart. BCV has approximately $3.9 billion in assets under management and offices in the Bay Area, New York City and Boston. Follow BCV at @BainCapVC or visit https://www.baincapitalventures.com.