HPE Growth Capital Leads Latest Funding Round; Capital to Accelerate Customer Experience Management Company’s International Expansion and Continued Product Innovation
NGDATA, the customer experience management solutions company, announced that it has raised just over $19 million in Series C funding. HPE Growth Capital led the round with participation from existing investors including Idinvest Partners, Pamica, SmartFin Capital, Capricorn Venture Partners and Nausicaa Ventures.
This latest investment comes on the heels of tremendous momentum for the company. In January 2017, NGDATA closed a $9.4 million funding round and experienced record business, customer and product revenue growth. Its May 2017 acquisition of Eccella added valuable data management expertise and expanded the company’s global footprint across North America, Europe and Asia. NGDATA also made significant updates to its next-generation customer data platform, Lily, adding new Attribution and out-of-the-box Next Best Experience capabilities to help marketers better use customer data to engage customers more effectively while tracking their marketing efforts more accurately and optimizing marketing spend.
The funds will primarily be used to further accelerate global growth and to continue to build out NGDATA’s vision to be the best partner for digital transformation, ecosystem investment and enhancing customer centricity in organizations.
“We have been looking at various companies in the big data management and marketing software segments for a while. What we love about NGDATA is that they offer their customers, such as large banks, telecom, media and utility companies, a sophisticated data infrastructure that combines all customer data from its internal systems with third-party data sources and provide analytics capabilities in real time, so that they can deliver exactly the right message at the right time to the right consumer, without overburdening them with offerings. This is a strong value proposition, as it leads to happier customers, improved customer conversion rates, and much greater marketing efficiency,” said Manfred Krikke, a Partner at HPE Growth Capital.
“Consumer behaviour is changing, and companies are just starting to realize the value of customer data platforms and using them to drive meaningful experiences. For the past five years, NGDATA has been steadfast in helping marketers improve every touchpoint across the customer journey, and we’ve designed and continually improved Lily to deliver smarter, more informed customer experiences. This funding not only validates our success in achieving these goals, but it also supports our commitment to be the leading global customer data platform provider,” said Luc Burgelman, CEO, NGDATA.
Lily powers organizations’ customer experiences by combining data, generating insights and steering actions. It eliminates organizational, system and data roadblocks, enabling large companies in data-driven industries (e.g. financial services, telecom, utilities, hospitality, etc.) to become truly customer-centric. Lily provides insights into historical and real-time customer interactions, from all sources, so companies gain a holistic and individual customer view, enabling them to deliver superior customer experiences to increase NPS (Net Promoter Score) and solidify customer lifetime value.
Michel Akkermans, chairman of NGDATA, added, “NGDATA continues to drive toward its vision of enabling companies to deliver customer-centric marketing. The investors are impressed with the company’s significant momentum, and this latest investment is testament to NGDATA’s clear drive to corner this important and growing market.”