Iterable, the leading growth marketing platform for cross-channel customer engagement, announced that it has raised $50 million in Series C funding. Participants in the round included Blue Cloud Ventures, CRV, Harmony Partners, Index Ventures and Stereo Capital. The current round brings the company’s total funding to $80 million to date.
This Series C financing will build on the tremendous triple-digit year-over-year growth that Iterable has experienced. Iterable is poised to disrupt the $5.5 billion global marketing automation software market with its cross-channel capabilities supporting email, push, SMS, in-app and more.
“Iterable’s sustained and accelerated growth is testament to its ability to manage the scale of data that leading, digitally-native brands are using to compete in the post-Amazon world,” said Rami Rahal, Managing Partner at Blue Cloud Ventures. “We rarely hear rave reviews from both the marketing and tech sides of an enterprise, but that’s exactly what we hear from Iterable customers. Marketers love Iterable’s ease of use when building cross-channel campaigns, and engineers love the platform’s wide support for complex data types at scale.”
This funding will support continued product development and fuel international go-to-market expansion. Iterable’s customers, including Zillow, Box, and SeatGeek, use Iterable to manage their marketing to over 2 billion of their subscribers. According to a recent study conducted by Forrester Consulting, investing in Iterable yielded a 700% ROI for clients.
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“Today’s consumers expect highly personalized experiences that are relevant and consistent across all their channels,” said Justin Zhu, CEO of Iterable. “Marketers are collectively spending billions of dollars to engage their customers, yet they struggle with antiquated software to manage the dynamic needs of the digital era. Currently analyzing over 1 billion customer events per day, Iterable’s growth marketing platform is the only solution that can dynamically orchestrate customer journeys in real time at scale.”
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