The next-generation customer data platform Zeotap today announced it has raised an additional $11 million in its ongoing Series C funding round led by Liberty Global Ventures.
According to the company, the round also saw participation from Richard Pennycook CBE (former CEO of the Co-operative Group).
Prior to this round, Zeotap had raised $42 million in a Series C round in July 2021, after following its 431% growth in revenue run rate in the previous accounting year. So far, the startup has raised $90 million in its funding rounds.
“Zeotap’s drive to put privacy at the heart of customer data initiatives is unique in the space and arrives exactly when the market needs it more than ever,” said Kay Schwabedal, Chief Digital Officer, Virgin Media O2, Liberty Global’s UK Joint Venture with Telefónica. “It’s no surprise that this has resulted in an incredible growth trajectory, and we’re thrilled to be on board to support this mission,” he adds.
Founded in September 2014 by Heer, Projjol Banerjea, and Stephan Schwebe, Zeotap launched its customer intelligence platform (CIP) last year to help companies better understand customers without the use of third-party cookies.
It also launched ID+, Zeotap’s Universal ID solution to enable brands and publishers to resolve identities at scale when third-party cookies are deprecated in 2023.
Since its last extension round, The startup witnessed 126% ARR growth in 2020 (a 201% Y-o-Y growth in subscription revenue). It has also signed several new clients, including Virgin Media, DER Touristik, and Nestlé, and partnered with over 60 leading European publishers on ID+, the statement said.
“With our last investment round and extension so oversubscribed, we’re pleased to now have the opportunity to bring new investors on board,” said Daniel Heer, Founder and Chief Executive Officer of Zeotap. “This further fuels the incredible momentum that we’ve generated since the launch of our platform, and we’re excited to have even more support on this journey,” he adds.
Apart from this, Zeotap recently announced the launch of Predictive Audiences, which allows users of its CIP platform to create and activate machine-learned segments without needing data science expertise.
The startup was also named a Leader in G2’s Spring 2021 Grid Report for Customer Data Platform Software, with Chief Product Officer and Founder Projjol Banerjea awarded ‘Tech Pioneer of the Year’ at the Campaign Tech Awards.
It has its offices in Bengaluru, Mumbai, London, Berlin, Barcelona, Paris, Milan, and Madrid. Additionally, It claims to have worked with over 80 of the world’s top 100 brands, including P&G, Nestlé, and Virgin Media. It is also the founding member of ID+, a universal marketing ID initiative.