Mobile-first data platform mParticle raises $17.5 million in Series B
Multi-screen customer data platform mParticle has just raised $17.5m in a Series B funding round led by investors Bain Capital Ventures and Social Capital. The company that provides mobile app data collection and supply tools says that it’s on track to grow 2016 revenue by four times compared to last year.
mParticle raises $17.5m to expand product line
Founded in 2013, mParticle enables marketing clients to connect their collected data to a variety of analytics, marketing and data storage services. It focuses on a multi-screen approach whilst being mobile-first and app-centric. And it must be doing something right given that it now manages over a billion mobile users each month, to capture $5bn in eCommerce transactions. It also processes over 250 billion API calls.
Michael Katz, CEO and Co-founder, mParticle, explains:
“Too much valuable customer data is being ignored. For the first time, brands can get a complete view of the customer journey across their web, app, and server data, not to mention the data generated by all their SaaS tools. With this unified perspective, they can at last deliver on the promise of multi-screen personalisation and marketing across paid and CRM channels.”
The company has been busy boosting its brand relationships with clients such as Airbnb, King, and Spotify, whilst adding more app store category leaders to its roster including Jet, Hulu, Foursquare, Postmates, and Chic Fil A.
To date, the company has raised $37m. The new funds will be used to launch additional products and scale operations.
In addition, mParticle announced a series of new hires. Scott Friend joins the Board of Directors at mParticle from Bain Capital Ventures, whilst Max Clark has been made Chief Revenue Officer to lead global sales. He held the role of VP of Sales for Oracle Social Cloud prior to joining mParticle.
Scott Friend, Managing Director at Bain Capital Ventures, says:
“We were attracted to how mParticle created the data platform for the next generation of mobile marketers and how it’s now being used by more traditional marketers for whom mobile is of paramount importance but not their only concern. The team that’s been assembled here has had an incredible amount of prior success scaling marketing and advertising technology businesses, so we are big believers not only in the vision but also in their ability to execute upon it.”
The company also announced the launch a new Profiles API, which lets clients query a user record in their mParticle account and match that consumer data to an existing system for a more complete view of the consumer journey.
As such, customer service teams are now able to scan a consumer’s behavior across web and app when responding to a query. This can help them understand if these users prefer app or web and how their query may be resolved best.