The MarTech Money Round-up: Feb. 2, 2016
Last week, investors funded new marketing technology (MarTech) that will allow brands to connect terrestrial and cloud-based software, use tech to gain actionable information from customer feedback and a tool that lets marketers see all inbound SEO in one place. Click through to see who the companies are and how close that MarTech is to a reality.
From Jan. 24 to 30, these deals happened, according to PitchBook, a Seattle-based M&A, private equity and venture capital database:
- Jitterbit got $20 million to build an app and data integration software that “addresses the cost and complexity challenges associated with connecting on-premise and cloud applications, data and business processes. Its product supports training and consulting services, integrates ERP, CRM, database, Web services and legacy systems.” This puts Jitterbit’s “pre-money valuation” at $33.4 million, which will enable the company to hire more staff and “build out Jitterbit’s products for specific verticals and to grow the business.”
- BirdEye’s $8 million allows the early stage startup to work on its business reputation and customer experience marketing platform “that collects customer feedback, ratings and sentiment across every channel and converts all the unstructured customer feedback into actionable insights.”
- CustomerMatrix raised $10.5 million to build software that will give bank, financial services and insurance companies’ customer-facing employees recommendations for action in real-time. Last week’s total puts “the company's pre-money valuation at $20.31 million. ... The funding will be used to continue company's expansion across FinTech hubs worldwide to drive the digital transformation of corporate and investment banks, wealth management institutions as well as insurance companies. CustomerMatrix has now raised a total of $19.5 million.”
- Moz, formerly SEOmoz and still widely known to those in the search marketing fields, gathered $10 million for its “analytics software to track all of a website's inbound marketing efforts on one platform. The company creates easy-to-use tools, tutorials, and educational resources for learning inbound marketing.” It’s one of the more established companies in the lineup, with a “pre-money valuation at $110 million. The company will use funds to accelerate product offerings and for growth initiatives, like marketing, experimenting our way to product/market fit and hiring sales and account management employees.”
Vidyard, previously called Redwoods Media, brought in $35 million for its video marketing and analytics offerings. This brings Vidyard’s “pre-money valuation” to $315 million. It plans to use the funds to “develop new products to allow businesses to expand their use of video for customer engagement and tap into the digital body language of online audiences.” As for that nebulous final sentence, Vidyard’s site provides a more expansive explanation: “Along with hosting your video content, Vidyard reveals who’s watching your videos, and for how long, with detailed viewer analytics and engagement data you can push directly into your MAP and CRM.”
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