Customer Data Platform Zeotap Raises Additional $11 Mn in Series C

SUMMARY

The last round of the ongoing series was led by Liberty Global Ventures and brings the startup’s total funding raised to $90 Mn

Zeotap offers a customer intelligence platform that claims to provide insights to a marketer on every aspect of a customer profile

The Customer Data Platform market is estimated to reach $15.3 Bn in value by 2026 globally

Bengaluru and Germany-based Customer Data Platform (CDP), Zeotap has announced an $11 Mn extension to its Series C round that was going on since November 2019. The startup had previously raised $42 Mn in July 2020 and $18.5 Mn in November 2019, and the current round is the last in Series C. It has earlier raised a Series B round led by New Science Ventures.

The current extension, led by Liberty Global Ventures, will add the VC firm to the board of Zeotap. Richard Pennycook CBE (ex-CEO of the Cooperative Group) also participated in the round and joined the board. The new round brings the startup’s total funding raised to $90 Mn.

Launched in 2014 by Daniel Heer, Projjol Banerjea and Stephan Schwebe, Zeotap launched its customer intelligence platform (CIP) and ID solution product ID+ in 2020 to cater to compliance requirements of the European market and to enable brands and publishers to resolve identities at scale when third-party cookies are deprecated in 2023, respectively.

Since its last extension round, Zeotap has claimed to have 126% ARR (annual run rate) growth in 2020, a 201% YoY growth in subscription revenue. The company has also signed several new clients, including Virgin Media, DER Touristik and Nestle, and partnered with over 60 leading European publishers on ID+.

Zeotap said that its CIP helps brands move their customer data in a cookieless future with privacy and compliance to the user. A consumer data platform is an integration of all customer data stitched together to create customer profiles that a marketer can work with.

Unlike CRM, the platform connects all types and sources of customer data — internal or external, structured or unstructured, batch or streaming — and provides analytical insights, tracking and the best combination of strategies.

According to a recent report, the adoption of CDPs is expected to grow as companies look to better use data to improve customer experiences and the global CDP market is anticipated to reach $15.3 Bn in value by 2026.

According to a global survey in 2019, while 51% of the companies were already using a CDP, another 35% planned to onboard a CDP soon. The report also stated that companies with consumer data platforms outperformed those who didn’t have one.

Step up your startup journey with BHASKAR! From resources to networking, BHASKAR connects Indian innovators with everything they need to succeed. Join today to access a platform built for innovation, growth, and community.