Customer Data Platform leads at a time of accelerated need for first-party data; serves as trusted CDP to more than 100 globally-admired consumer brands including Wyndham Hotels & Resorts, Michaels, and Tapestry, luxury parent brand to Coach, Kate Spade, and Stuart Weitzman
Amperity, the leading customer data platform (CDP) for consumer brands, today announced it has raised $100 million in Series D financing, valuing the company at more than $1 billion. Amperity posted nearly 100% revenue growth last year, demonstrating broad market appeal for the company’s high-performance, multi-patented CDP technology.
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“Customer data is the lifeblood of the modern enterprise, and the ability to derive insights and use that data is both an expectation of consumers, and a requirement for brands to meet their objectives,” said Kabir Shahani, CEO and co-founder of Amperity. “Our core belief is that brands should own the relationship with their customers, yet until now have not had the tools to do so. We’ve created this capability by inventing technology that identifies customers across a brand’s first-party data, creates a Customer 360, understands customers’ interests, and develops analytics to predict their intent – data and insight that are critical to success in a rapidly changing economy. We’re grateful to have crossed the rubicon at a time of unprecedented market demand, successfully delivering critical functionality for customers through a period of massive disruption.”
Brands have recognized the necessity of having a first-party identity graph to create and sustain consumer relationships.
The economic pressures of the COVID-19 pandemic made knowing the consumer a matter of survival for consumer businesses globally. Amperity empowers customers to drive customer loyalty and improve marketing outcomes through a multi-patented and proven approach to identity resolution, comprehensive customer profiles, and advanced analytics.
First-Party Customer Data Becomes Business Critical
Amperity CDP has created the first-party data graph and customer toolset for many of the world’s most loved consumer brands including Wyndham Hotels & Resorts, Michaels, DICK’S Sporting Goods, Cost Plus World Market, Kendra Scott, Servco Automotive Retail, and Seattle Sounders FC. In the last year, the company has expanded its business to include dozens of new enterprise customers, such as Tapestry, Smithsonian, European Wax Center, and KUIU, among others.
Faced with the challenge of optimizing business performance without third-party data, brands have recognized the necessity of having a first-party identity graph as a cornerstone effort to create and sustain consumer relationships.
“Amperity has given us the ability to turn disparate and sometimes disjointed customer data into a complete first-party data foundation,” said Steve Miller, SVP of strategy, e-commerce and analytics at DICK’S Sporting Goods. “Amperity is enabling us to drive better business results and safely and securely transform our customer data into exceptional experiences.”
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CDPs Take Center Stage
As CDPs allow enterprises to quickly and easily make sense of trillions of data points from customers across in-store visits, web traffic, mobile usage, loyalty programs, and other touchpoints, they have risen to the level of enterprise resource planning (ERP), customer relationship management (CRM), and other essential business systems.
“The majority of consumer brands struggle to activate and scale personalized customer experiences, because their customer data is fragmented across dozens of systems and not readily accessible by marketers,” said Abhishek Dalmia, managing director and partner at Boston Consulting Group. “This is why the vast majority of our clients are aggressively exploring CDPs – and the reason more than a billion dollars have been invested in the CDP category. Amperity is an enterprise-scalable solution that delivers across all four capability functions of BCG’s CDP vendor framework: Data Ingestion; Unifying Customer Records; Intelligence & Decision Making; and Activation.”
“Amperity represents the future of how customer data can benefit both consumers and businesses by offering the most comprehensive AI-driven CDP on the market today,” said John Curtius, partner at Tiger Global Management. “The company’s technology is bringing outsized value to the biggest and most admired consumer brands in the world. Additionally, they continue to attract exceptional talent at all levels of the company to advance their mission, including the addition of Starbucks CEO Kevin Johnson to its board last year.”
Amperity’s Series D funding round was led by HighSage Ventures with participation from existing investors Tiger Global Management, Declaration Partners, Madrona Venture Group, and Madera Technology Partners. With today’s announcement, Amperity’s total funding raised to date is now $187 million. The fresh capital will be used to grow sales and marketing; expand internationally; and invest in R&D to further enable Amperity’s customers to innovate using their first-party customer data.
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