Zeotap, the next-gen Customer Data Platform, has announced an $11m extension to its Series C round. The extension follows the company raising $42m in July 2020, which was followed by an initial extension of $18.5m in November from SignalFire’s Breakout Fund. This new extension takes place to enable new investors such as Liberty Global Ventures to come on board, following oversubscription to previous rounds.
The new round brings the company’s total funding raised to $90M, fuelling Zeotap’s drive to provide solutions for marketers facing a privacy-first future. Zeotap’s Customer Intelligence Platform (CIP) was launched in 2020 as the next-generation Customer Data Platform (CDP), designed to deliver on the more challenging compliance requirements of the European market. ID+, Zeotap’s Universal ID solution, was also launched last year to enable brands and publishers to resolve identities at scale when third-party cookies are deprecated in 2023.
Today’s announcement sees new investors come on board, including several senior executives across global SaaS and retail. Liberty Global Ventures, whose portfolio includes Skillz, Lacework and Samba TV, was one of many institutional investors who contributed to the round. Other new investors include Richard Pennycook CBE (former CEO of the Co-operative Group).
“Zeotap’s drive to put privacy at the heart of customer data initiatives is unique in the space and arrives exactly when the market needs it more than ever,” said Kay Schwabedal, Chief Digital Officer, Virgin Media O2, Liberty Global’s UK Joint Venture with Telefónica. “It’s no surprise that this has resulted in an incredible growth trajectory, and we’re thrilled to be on board to support this mission.”
Since its last extension round, Zeotap reported 126% ARR growth in 2020 (a 201% Y-o-Y growth in subscription revenue). The company has also signed several new clients, including Virgin Media, DER Touristik and Nestlé, and partnered with over 60 leading European publishers on ID+.
“With our last investment round and extension so oversubscribed, we’re pleased to now have the opportunity to bring new investors on board,” said Daniel Heer, Founder and Chief Executive Officer of Zeotap. “This further fuels the incredible momentum that we’ve generated since the launch of our platform, and we’re excited to have even more support on this journey.”
Zeotap recently announced the launch of Predictive Audiences, which enables users of Zeotap’s Customer Intelligence Platform to create and activate machine-learned segments without needing data science expertise. It was also named a Leader in G2’s Spring 2021 Grid Report for Customer Data Platform Software, with Chief Product Officer and Founder Projjol Banerjea awarded ‘Tech Pioneer of the Year’ at the Campaign Tech Awards.
