Total amount raised
$342.2 Millions
Latest funding date
6/1/2021
Location
Iterable has successfully raised significant funding over multiple rounds, with its latest being a Series E. The platform offers a comprehensive suite of tools designed to enhance customer communication and marketing efforts.
Keep reading to explore the intricacies of Iterable's fundraising journey and the investors backing this innovative platform.
What Is Iterable?
Founded in 2013 by Andrew Boni and Justin Zhu, Iterable is headquartered in San Francisco, California. The company specializes in AI-powered customer communication, helping organizations create personalized, dynamic interactions at scale.
Iterable's platform is used by notable companies like Redfin, Priceline, and Calm to drive growth through individualized messaging and harmonized channels. The platform leverages real-time data to optimize customer engagement across various touchpoints.
With a workforce of 501-1000 employees, Iterable continues to innovate in the marketing technology space, offering features such as dynamic campaigns and educational resources through the Iterable Academy.
How Much Funding Has Iterable Raised?
- Seed Round
- Amount Raised: $1.2M
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the market need.
- Series A
- Amount Raised: $8M
- Date: January 2016
- Lead Investors: CRV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the team.
- Series B
- Amount Raised: $23M
- Date: November 2016
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series C
- Amount Raised: $50M
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series D
- Amount Raised: $60M
- Date: December 2019
- Lead Investors: Viking Global Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop AI capabilities and enhance customer engagement tools.
- Series E
- Amount Raised: $200M
- Date: June 2021
- Lead Investors: Silver Lake, Adams Street Partners, Glynn Capital, DTCP
- Valuation at Round: $2 billion
- Motivation Behind the Round: To continue developing the platform, expand business reach, and fuel innovation.
Total Amount Raised: $342.2M
Current Valuation: $2 billion
Key Investors
- Silver Lake
- Details: Silver Lake is a global private equity firm focused on investments in technology and technology-enabled industries.
- Investment Focus Areas: Technology, technology-enabled industries.
- Notable Investments: Dell Technologies, Airbnb, Twitter.
- Adams Street Partners
- Details: Adams Street Partners is a private markets investment management firm that provides investment management services to institutional clients.
- Investment Focus Areas: Private equity, venture capital, growth equity, private credit, secondary investments.
- Notable Investments: GoPro, Magic Leap, BigCommerce.
- Glynn Capital
- Details: Glynn Capital is a venture capital and growth equity firm that invests in technology companies.
- Investment Focus Areas: Technology, software, internet, digital media.
- Notable Investments: Facebook, LinkedIn, Palantir.
- DTCP (Deutsche Telekom Capital Partners)
- Details: DTCP is an investment management group with a focus on growth equity and digital transformation.
- Investment Focus Areas: Technology, media, telecommunications, digital transformation.
- Notable Investments: Pipedrive, Fastly, Guardicore.
- CRV (Charles River Ventures)
- Details: CRV is a venture capital firm that invests in early-stage technology companies.
- Investment Focus Areas: Enterprise software, consumer technology, healthcare.
- Notable Investments: Twitter, Zendesk, DoorDash.
What's Next for Iterable?
Iterable stands at the cusp of significant growth opportunities, driven by the increasing demand for personalized, AI-powered marketing solutions. With a $200 million Series E funding round valuing the company at $2 billion, Iterable is well-positioned to expand its global footprint and enhance its platform capabilities. The marketing automation market is projected to surpass $25 billion by 2023, offering a vast landscape for Iterable to disrupt and innovate.
Future fundraising opportunities appear promising, as the company continues to attract high-profile investors and demonstrate robust market potential. However, challenges such as fierce competition, evolving customer expectations, and regulatory changes around data privacy could pose hurdles. Navigating these complexities will be crucial for Iterable as it aims to scale its operations and maintain its competitive edge in the rapidly evolving martech industry.
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