Total amount raised
$73 Millions
Latest funding date
7/1/2022
Location
Cordial has successfully raised significant funding through multiple rounds, with its latest being a Series C. The platform offers a comprehensive suite of tools for cross-channel marketing and customer engagement.
Keep reading to explore the intricacies of Cordial's fundraising journey and the investors backing this innovative platform.
What Is Cordial?
Cordial, founded in 2014, is a cross-channel marketing and data management platform based in San Diego, California. The company was established by Adam Gillespie, Chris McGreal, David Baker, and Jeremy Swift.
With a team of 101-250 employees, Cordial helps marketers use all of their data to connect with customers. The platform enables real-time data collection, normalization, and activation to create tailored messages that adapt to changing customer signals.
By consolidating redundant technology and eliminating data silos, Cordial aims to remove internal friction and create brand experiences that drive bottom-line impact.
How Much Funding Has Cordial Raised?
- Seed Round
- Amount Raised: $350K
- Date: August 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and validate the business model.
- Seed Round
- Amount Raised: $1.7M
- Date: April 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling the platform and acquire initial customers.
- Series A
- Amount Raised: $6.5M
- Date: February 2017
- Lead Investors: Upfront Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand market reach.
- Series B
- Amount Raised: $15M
- Date: June 2018
- Lead Investors: Ankona Capital Partners, PeakSpan Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and support customer growth.
- Series B
- Amount Raised: Not publicly disclosed
- Date: March 2021
- Lead Investors: Ankona Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and drive innovation.
- Series C
- Amount Raised: $50M
- Date: July 2022
- Lead Investors: NewSpring, ABS Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster product offerings, expand global presence, and redefine cross-channel engagement.
Total Amount Raised: $73.55M
Current Valuation: Not publicly disclosed
Key Investors
- ABS Capital Partners
- Details: ABS Capital Partners is a private equity firm that provides growth equity capital to B2B software and tech-enabled services businesses. They have invested more than $2.5 billion in approximately 130 companies across eight funds.
- Investment Focus Areas: B2B software, tech-enabled services, data-driven business strategies.
- Notable Investments: Alarm.com, Rosetta Stone, DoubleVerify.
- NewSpring
- Details: NewSpring partners with high-performing companies in dynamic industries to catalyze growth. They manage approximately $2.5 billion across five distinct strategies.
- Investment Focus Areas: Growth equity, control buyouts, mezzanine debt.
- Notable Investments: Dstillery, 4G Clinical, Verisma.
- Ankona Capital Partners
- Details: Ankona Capital Partners is a growth equity firm focused on investing in software and technology companies. They aim to support companies in scaling their operations and achieving significant growth.
- Investment Focus Areas: Software, technology, growth-stage companies.
- Notable Investments: Appetize, Cloudvirga.
- PeakSpan Capital
- Details: PeakSpan Capital is a growth equity firm that invests in business software companies. They focus on partnering with entrepreneurs to build market-leading companies.
- Investment Focus Areas: Business software, technology, growth-stage companies.
- Notable Investments: PerimeterX, Cordial.
- Upfront Ventures
- Details: Upfront Ventures is a venture capital firm that invests in early-stage technology companies. They have a long history of supporting innovative startups and helping them scale.
- Investment Focus Areas: Early-stage technology, innovation, startups.
- Notable Investments: Bird, Ring, ThredUP.
What's Next for Cordial?
With the recent $50 million Series C funding, Cordial is poised to capitalize on the $8 billion global marketing automation industry. The company plans to enhance its product offerings, expand its global presence, and redefine cross-channel engagement. These opportunities could significantly boost Cordial's market share and client base, leveraging their robust platform capabilities to deliver personalized customer experiences.
Future fundraising seems likely as Cordial continues to innovate and scale. The company may seek additional capital to support its ambitious growth plans, including potential strategic acquisitions to enhance technology and market reach. However, challenges such as competing with established players and maintaining high standards amid rapid expansion could test Cordial's resilience.
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