Amperity, the first AI-powered Customer Data Management platform, today announced it has raised a $50M Series C financing round from Tiger Global Management, Goldman Sachs, Declaration Partners (an investment firm backed by David Rubenstein), Madera Technology Partners, Madrona Venture Group, and investor Lee Fixel. This represents a significant milestone for Amperity, following a breakout 2018 where the company saw annual recurring revenue grow 335% over the previous year. The new round brings the company’s total funding to-date to $87M.
“This team has the vision, talent, and technology to drive transformation for consumer brands,” said Scott Shleifer, partner at Tiger Global Management. “They’re rapidly becoming the platform brands use to solve for disparate and inaccurate data, enabling them to more effectively personalize their customers’ journeys.”
“It’s crucial for today’s brands to be directly connected to the consumers they serve, and that can only happen when they have the ability to use the data they have about those customers,” said Kabir Shahani, CEO and co-founder of Amperity. “In just shy of two years, we’ve been able to develop a platform that, for the first time, helps companies tap into previously unattainable data and unify it so they can better understand and connect with their customers. And when customers are consistently seeing a 10x return on their investment, we know we’re delivering a solution that works. It’s incredibly gratifying to play a part in seeing our users unleash their best ideas for the very first time.”
Amperity will use the funds to accelerate new capabilities, as well as expand into new verticals including financial services, automotive, insurance, and healthcare, while continuing to grow within the retail, travel, and hospitality industries.
“Amperity has solved one of the most significant challenges facing today’s consumer brands. They’ve built a powerful platform that can unify customer data together at scale, giving companies a complete and accurate view of their customers,” said investor Lee Fixel. “It’s been exciting to watch this team execute against their vision and develop the deep technical capability required to become the clear category leader.”
“Amperity aligns with our strategy of investing in established and growing companies with proven management teams,” said Brian Stern, partner at Declaration Partners. “Amperity solves an incredibly difficult consumer data problem through an innovative and fresh approach, helping their clients harness this information to better serve their customers.”
Today’s announcement comes on the heels of the launch of Amperity’s new product offerings Stitch and Customer 360 Database. The company also recently forged a strategic partnership with Snowflake, adding to those the company already has with major industry players such as Microsoft, Slalom, and AWS. They also added a number of new customers including Lucky Brand, Planet Fitness, Servco, and Endeavor Drinks, and made key leadership appointments including former Tableau executive Lynn Girotto as the company’s first Chief Marketing Officer, and former Facebook engineering leader Aria Haghighias Head of Data Science.
Amperity’s mission is to help people use data to serve the customer. They are revolutionizing the way companies connect, identify, and understand their customers by leveraging artificial intelligence to deliver a truly comprehensive and actionable Customer 360. This view improves marketing performance, fuels accurate customer insights, and enables world-class customer experiences. With Amperity, technical teams are freed from endless integration and data management, and business teams have direct access to the comprehensive data they need to build long-term customer loyalty and drive growth. Amperity serves many of the world’s most loved brands, including Alaska Airlines, Starbucks, The Gap Inc, Moët Hennessy USA, Wynn Resorts, Kendra Scott, Lucky Brand, Planet Fitness, Seattle Sounders, Stanley, and many more.