NEW YORK--(BUSINESS WIRE)--Simon Data, the leading customer data platform (CDP), announced today the successful completion of its Series D funding round, securing $54 million in investment. The funding round was led by Macquarie Capital with participation from several existing investors, including Polaris, .406, and F-Prime, underscoring their confidence in Simon Data's vision and its ability to set a new standard for personalized, cross-channel marketing globally.
This funding round comes on the heels of Simon Data’s launch of Connected Segmentation, a groundbreaking tool that empowers marketers -– regardless of technical acumen – to build customer segments directly within Snowflake. The investment will further propel Simon Data's product development, enabling the company to continue building connected applications with other cloud data warehouses and provide more customers with a fully-connected CDP.
In traditional CDP architectures, customer data is replicated multiple times as it moves across data centers and marketing end channels. With Simon Data’s technology, marketers are now able to access customer data directly within the cloud data warehouse, build complex customer segments and easily activate them in end channels, all while the resulting data is transmitted back on a continuous loop between marketing channels and the data warehouse.
"This funding round signifies a pivotal moment for Simon Data and the industry at large,” said Jason Davis, CEO and Co-Founder of Simon Data. “We firmly believe that the cloud data warehouse should be at the heart of companies' data infrastructure. We’re seeing a fundamental shift in the CDP space - pitting packaged solutions that exist independently of enterprise cloud data warehouses against composable solutions that are purpose-built to unlock its potential. Simon’s unique architecture enables our customers with a marketer friendly-UI typical of packaged CDPs, while at the same time offering the composability benefits of reverse ETL tools. With this investment, we are furthering our commitment to solving the data and marketing divide, and cementing our position as leaders in modern, warehouse-native customer data activation and personalization.”
Marketers are under immense pressure to drive ROI and personalize customer experiences with fewer resources. The shifting digital landscape has led to rising customer acquisition costs, new privacy regulations, and evolving consumer behaviors that have resulted in complex omnichannel data, leaving brands to look inward. Marketing teams need to work more closely with their organizations’ data teams than ever before. By enabling marketers to tap into their valuable cloud data warehouse, Simon Data empowers businesses to bridge the internal gap between data and marketing teams with a fully-connected CDP built for marketers, but trusted by data leaders, ushering in a new era of data-driven, highly-personalized cross-channel marketing.
“Simon Data enables us to deeply connect with our users in more profound ways,” said Scott Grove, vice president of marketing operations at Vimeo. “We’ve experienced a 300 percent increase in free-trial conversions over the last several years, which is a testament to Simon Data’s ability to individualize and elevate our customer communications. Solutions like Connected Segmentation empower the marketing team to quickly build segments and deliver personalized messages that consistently resonate."
“We are thrilled to join Simon Data in its journey to transform the CDP market as we know it,” said Larry Handen with Macquarie Capital. “Simon Data’s ability to connect seamlessly to first-party cloud data infrastructure and enable real-time personalized marketing at scale is exactly what today’s businesses need the most and we are looking forward to supporting this talented team in their next phase of innovation.”
About Simon Data:
Simon Data is a leading customer data platform (CDP) and personalization engine, empowering marketing teams with the only fully Snowflake-connected CDP purpose-built to increase campaign performance through faster, more precise segmentation and personalization. The first CDP built on Snowflake, the Simon Data Platform enables brands to break free from outdated architecture that makes data hard to access and deploy. Trusted by top global brands, organizations like Tripadvisor, Equinox, JetBlue, ASOS, Venmo and many others count on Simon Data to connect with consumers. Low code, the Simon Data Platform is designed for use by marketers – turning them into data scientists. Simon Data is a 2022 Built-In Best Places to Work, 2023 Fortune Best Workplaces in New York, Great Places to Work Certified, and is an 8-time G2 Leader in the CDP space.