NEWS6 January 2020

BlueConic raises $13m Series B funding

Financials News North America

US – Customer data platform (CDP), BlueConic, has closed a $13m Series B funding round, led by new investor Spring Lake Equity Partners with contributions from existing investor Sigma Prime Ventures, as well as angel investors.

This investment brings BlueConic’s total funding to $25m to date.

Since BlueConic closed its Series A to establish its go-to-market and headquarters in the United States, revenue has grown 3000%. In 2019, BlueConic improved its consent management to support worldwide consumer privacy regulations, and released AI Workbench, which amplifies predictive modelling capabilities in the platform for both marketing and data science users.

Spending on CDPs was estimated to be $1bn in 2019, and is projected to be in the multi-billion dollars in the next three years according to several analyst firms, including the CDP Institute and International Data Corp.

Bart Heilbron (pictured), BlueConic CEO and co-founder, said: “Most brands still lack a single source of customer data truth down to the individual level that is accessible in real time to marketers and their activation channels. That’s why we’ve designed our CDP from inception to meet the ever-evolving needs of the marketer, and we’ll continue to build on that foundation of flexibility as we lead the category into its next stage of maturity.”

Dan MacKeigan, founding partner of Spring Lake Equity Partners and new BlueConic board member, added: “BlueConic stands apart from other customer data platforms in its ability to intelligently store, segment, and activate first-party data across every possible touch-point without sacrificing speed, flexibility, or privacy compliance. The company has a long history of solving this fundamental challenge in a way that other technologies were never designed, and therefore never able, to do.”

@RESEARCH LIVE

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