Sophie Blake
Customer data platform Simon Data announced that it has raised $54 million in Series D funding round led by Macquarie Capital with participation from all major existing investors, including Polaris, .406, and F-Prime.
The latest round brought the company’s total funding to approximately $118 million since its launch in 2013. Customer data platform (CDP) and personalization engine Simon Data provides marketing teams with the only CDP that is fully integrated to Snowflake and is designed to improve campaign effectiveness through quicker, more accurate segmentation and personalization.
It also has integrations with other cloud data warehouses, including Amazon Redshift, BigQuery and Microsoft Azure Synapse.
“This funding round signifies a pivotal moment for Simon Data and the industry at large,” said Jason Davis, CEO and Co-Founder of Simon Data. “We firmly believe that the cloud data warehouse should be at the heart of companies’ data infrastructure. We’re seeing a fundamental shift in the CDP space – pitting packaged solutions that exist independently of enterprise cloud data warehouses against composable solutions that are purpose-built to unlock its potential.”
“Simon’s unique architecture enables our customers with a marketer friendly-UI typical of packaged CDPs, while at the same time offering the composability benefits of reverse ETL tools. With this investment, we are furthering our commitment to solving the data and marketing divide, and cementing our position as leaders in modern, warehouse-native customer data activation and personalization.”
By allowing Simon Data to keep developing connected apps with other cloud data warehouses and provide additional customers a fully-connected CDP, the funding is expected to accelerate the company’s product development.
“Simon Data enables us to deeply connect with our users in more profound ways,” said Scott Grove, vice president of marketing operations at Vimeo. “We’ve experienced a 300 percent increase in free-trial conversions over the last several years, which is a testament to Simon Data’s ability to individualize and elevate our customer communications. Solutions like Connected Segmentation empower the marketing team to quickly build segments and deliver personalized messages that consistently resonate.”
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