mParticle Raises $ 150 Million Series E To Help Teams Accelerate Data Valorization

New investment, led by Permira, follows accelerated business growth and will be used to drive continued growth of its customer data infrastructure

Posted: October 5, 2021 at 5:00 a.m. CDT|Update: 30 minutes ago

NEW YORK, October 5, 2021 / PRNewswire / – m Particle, the leading customer data infrastructure company, today announced that it has raised $ 150 million in Series E funding, led by The Permira Growth Fund which supports leading technology and digital companies. The existing investor base also participated in the roundtable alongside new funders, including the former CFO of Adobe. Marc Garrett and New England Patriots All-Pro punter Jake bailey. The funding will support the continued expansion of mParticle’s global commercialization, as well as significant investments in R&D as demand for customer data infrastructure continues to accelerate. With the round, Daniel Brenhouse, director at Permira, will join the board of directors of mParticle.

Creating truly adaptive and privacy-friendly digital experiences is becoming a universal brand mandate, but companies face several customer data challenges that hinder success. Solving challenges related to data quality, governance and connectivity is the precursor to ensuring that digital experiences are relevant and personalized, as well as compliant with privacy.

mParticle enables businesses to easily manage the immense growth in the volumes of data moving to and from sources, systems, APIs and applications. Using a single API, developers, product managers and marketers can manage customer data throughout the product and customer lifecycle while addressing challenges such as data quality and governance. Additionally, mParticle accelerates time to value by facilitating real-time synchronization of customer data with over 300 analytics and marketing APIs.

“Accelerating customer data connectivity is helping propel the digital economy to new heights,” said Michael katz, CEO of mParticle. “Nowadays, teams try to do more with less and winning brands are focused on improving the trust quotient with their customers by creating better interactions based on better data, privacy controls, and a better approach. open ecosystem. Our partnership with Permira and the latest funding will help us deliver the solution to these challenges, to more brands, on a rapid global scale. “

In the wake of COVID-19, as digitization has accelerated and consumer behavior has continuously changed, mParticle has grown rapidly, helping teams implement and deliver innovative customer data strategies . The new ARR grew by around 50% in 2020 and accelerated to over 100% year-over-year in 2021.

Improving data maturity within an organization has proven to have a significant impact on the growth of mParticle customers. Well-known brands such as NBCUniversal, Giant Eagle, Route, Airbnb, Drybar, Dave and Buster’s and hundreds of other top brands have all selected mParticle to implement and execute their customer data strategies. MParticle’s customer data infrastructure helps these teams improve personalization by connecting the right data to the right systems in real time.

“MParticle solves a fundamental data quality problem facing marketing organizations. We are excited to lead this investment as Michael, Andrew and the team seek to strengthen their phenomenal innovation experience in a growing customer data platform market, ”said Daniel Brenhouse, director at Permira. “Many of Permira’s most sophisticated consumer-focused companies are major promoters of mParticle and we are excited to support the widespread adoption of its technology in organizations of all industries and sizes,” he said. for follow-up.

Chris Caguin, Investment Professional at Permira, added: “mParticle is a pioneer in customer data infrastructure and we are excited to lead the funding of the E-Series. MParticle is the future of the CDP market with its unique premier platform. order; quality capabilities and a cutting-edge feature set for integration, ingestion, security and governance. We are delighted to partner with Michael and his team to accelerate the product roadmap of the business, growth initiatives and continuous innovation Chris will join the mParticle board of directors as a post-transaction board observer.

“Gartner’s 2020 Marketing Technology Survey reveals that marketer adoption of Customer Data Platforms (CDP) continues to grow: 87% of respondents have fully deployed or are deploying CDP, up from 74% in 2019.” , according to Gartner®. “Emerging factors such as the decline of third-party cookies are intensifying the already urgent need for marketing to bridge the gap in customer data management.” It is further stated in the report: “Among martech leaders surveyed with a CDP, respondents with only a cloud marketing CDP reported the lowest levels of overall martech stack efficiency. “Gartner adds,” Marketers report high CDP capacity utilization, but “the lack of a customer database” remains a major obstacle to success. This underscores the difficulty of CDP providers in meeting the expectations of unified customer data. “[1]

Unlike other CDPs, marketing clouds, and generic data pipelines, mParticle helps teams properly manage the nuanced nature of customer data in an ever-changing technology ecosystem. As teams move beyond third-party cookies and create more sustainable and privacy-friendly strategies, they have the opportunity to create a data wheel where better data leads to better personalization leading to more personalization. engagement and richer data. Meeting underlying data quality, governance and connectivity needs is the precursor to creating cumulative effects across the organization that benefit the entire business rather than a single team. .

{1} Gartner, “Survey Analysis: Customer Data Platform Usage High, But Customer Data Management Challenges Persist”, Benjamin bloom, Marketing research team, June 17, 2021. GARTNER is a registered trademark and service mark of Gartner, Inc. and / or its subsidiaries in the United States and internationally and is used here with permission.

About mParticle

mParticle facilitates the overall management of customer data throughout the product and customer lifecycle. Teams from companies like Klarna, NBCUniversal, Spotify, and Airbnb use mParticle to deliver exceptional customer experiences and accelerate growth. We simplify the customer data infrastructure, which translates to cleaner code, improved site and application performance, less maintenance, and recovered engineering time. Founded in 2013, mParticle is headquartered in New York City with offices in San Francisco, Seattle, Sydney, and London.

About Permira

Permira is a global investment company that supports successful businesses with growth ambitions. Founded in 1985, the firm advises funds with a total committed capital of approximately $ 50 billion (€ 44bn) and makes majority and minority long-term investments. The Permira funds have made more than 250 private equity investments in four key sectors: technology, consumer, services and healthcare. Permira funds have a long history of technology investing, having invested in the United States $ 14.9 billion in 55 companies across enterprise cloud adoption, SaaS, fintech and online marketplaces. Permira employs more than 350 people in 15 offices across Europe, North America, and Asia.

Permira’s growth strategy is to support disruptive and market-leading companies as they take them to the next level. The Permira and Permira growth funds have already supported and helped develop some of the world’s largest and fastest growing internet and tech companies, including FullStory, CommentSold, Genesys, Klarna, G2, Mirakl, Nexthink, Relativity, Informatica, Allegro, and Zwift. For more information, visit www.permira.com.

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