Simon Data, the market-leading enterprise Customer Data Platform (CDP), today announced the close of a $30 million Series C funding round to expand its mission of unlocking the power of data to deliver the next generation of customer experiences. The funding follows a $20 million Series B round in late 2018, and was again led by Polaris Partners with continued participation from .406 Ventures and F-Prime Capital. The company has raised $59 million to date.
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Simon Data secures $30 million in series C funding. | The company is growing exponentially. Team photo at recruiting event. | http://bit.ly/2TM6HYb (Photo: Business Wire)
“This is a business whose explosive growth is driven by putting their clients at the center of everything they do,” said Dave Barrett, Managing Partner at Polaris Partners. “Simon Data pairs a disruptive new data science-fueled technology with a partnership approach that’s designed to help enterprises deliver a new generation of customer experiences. They’ve emerged as a clear category leader, and this investment is all about extending that position.”
The modern customer’s expectations have increased pressure on enterprise brands to deliver a differentiated customer experience beyond email. This pressure has compelled brands to confront the reality of their outdated or unworkable martech stacks for the first time. The growing consensus is that data is often the limiting factor, and Simon’s approach represents the first coherent solution.
“There’s a massive opportunity for businesses of all sizes to drive better customer experiences through data,” said Jason Davis, Co-Founder and CEO of Simon Data. “Yet so many businesses today – in particular those at scale – are unable to leverage the heavy investments they’ve made in data science and infrastructure. We built Simon in partnership with high-growth, data savvy businesses that are defined by their ability to create amazing customer experiences. Our enterprise partners are now realizing the benefits of that approach.”
Most CDPs either integrate crudely into enterprise data environments or poorly into existing marketing technologies. Simon differentiates by doing both well – offering seamless, comprehensive data integration paired with AI-driven orchestration and optimization. This enables customers to meet ever-increasing consumer demands, regardless of their current martech stack.
The problem is compounded in the enterprise, as most larger companies leverage a combination of legacy providers to deliver customer messaging. These “all-in-one” solutions cannot adapt to the sophisticated demands of modern marketing; ultimately, they require a CDP to make them work together. Simon directly integrates into all such providers, harmonizing disparate messaging channels to deliver a superior customer experience.
Simon’s unique platform and agnostic approach have been a primary driver of its ongoing success; current clients include Albertsons, ASOS, Equinox, Venmo, and WeWork.
“The confusion around what a CDP is and does makes it nearly impossible for brands to choose the right partner,” said Joshua Neckes, Co-Founder and President of Simon Data. “The space is fraught with pretenders, retreads, and also-rans – but the value is very real when properly delivered. Our focus has been pairing a clear set of capabilities with a partnership approach that helps companies deliver the outcomes they’re after. With over 250% growth and doubling our client count in each of the last two years, we think it’s working.”
About Simon Data
Simon Data is the enterprise Customer Data Platform (CDP) that empowers brands to deliver data-driven, personalized customer experiences anywhere. The platform leverages enterprise-scale big data and machine learning to power customer communications in any channel. Simon’s unique approach allows brands to develop and deliver incredible personalization capabilities without needing to build and maintain massive bespoke data infrastructure. For more information, visit www.simondata.com.
About Polaris Partners
Polaris Partners invests in exceptional technology and healthcare companies across all stages of their life cycles. With offices in Boston, San Francisco, and Dublin, we partner globally with an unparalleled network of entrepreneurs, top scientists and emerging innovators who are making significant contributions in their fields and improving the way in which we live and work. For more information, visit www.polarispartners.com.