mParticle Closes Funding Round of USD 17,5 Million
- by Radu Cotarcea
On October 13, mParticle has announced it closed a Series B financing round of USD 17.5 million, which was led by new investor Bain Capital Ventures along with existing investor Social Capital. It was accompanied by an announcement that the mParticle has hired a new sales leadership and that its new APIs are available which will "enable brands to do more with their data in the mobile era."
Founded in 2013, mParticle is a customer data platform that "unlocks the full power of data for businesses." The company empowers brands to accelerate their growth strategy to keep pace with their customers by providing the most advanced data platform for web and apps across all devices in the marketplace. The company has grown to manage over 1 billion mobile users each month, capturing over USD 5 billion in ecommerce transactions, and processing over 250 billion API calls.
The USD 17.5 million in additional funding brings the company’s total capital raised to USD 37 million since inception in 2013. The new funding will be used to bring even more industry-leading multi-screen products to market and enable the company to scale operations. Scott Friend, who led the investment for Bain Capital Ventures, will join the mParticle Board of Directors. Max Clark has joined the company as the Chief Revenue Officer to lead the global sales force. Prior to joining mParticle, Clark was Vice President, Sales for the Oracle Social Cloud.
mParticle also announced it has launched a new Profiles API. The API enables any customer to query a user record in their mParticle account and append that customer data to any existing system for a more complete view of the customer journey.
Michael Katz, CEO and Co-Founder of mParticle, commented: "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 personalization and marketing across paid and CRM channels."