Simon Data, a New York-based customer data platform (CDP), secured $54 million in a Series D funding round led by Macquarie Capital.
Several existing investors, including Polaris, .406, and F-Prime, also participated in the round.
The Series D funding follows the recent launch of Simon Data's innovative tool called Connected Segmentation. This tool empowers marketers, regardless of their technical expertise, to create customer segments directly within Snowflake, a cloud data warehouse.
The infusion of funds will accelerate Simon Data's ongoing product development efforts. This will enable the company to expand its offerings, creating connected applications that work seamlessly with other cloud data warehouses. This expansion will allow more customers to access a fully-connected CDP.
"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.”
Company: Simon Data, Inc.
Raised: $54.0M
Round: Series D
Funding Month: August 2023
Lead Investors: Macquarie Capital
Additional Investors: Polaris, .406, and F-Prime
Company Website: https://www.simondata.com/
Software Category: Customer Data Platform (CDP)
About the Company: Simon Data is a customer data platform (CDP) and personalization engine, empowering marketing teams with the only fully Snowflake-connected CDP purpose-built to increase campaign performance through faster, more precise segmentation and personalization. The first CDP built on Snowflake, the Simon Data Platform, enables brands to break free from outdated architecture that makes data hard to access and deploy. Trusted by top global brands, organizations like Tripadvisor, Equinox, JetBlue, ASOS, Venmo, and many others count on Simon Data to connect with consumers. Simon Data is a 2022 Built-In Best Places to Work, 2023 Fortune Best Workplaces in New York, Great Places to Work Certified, and an 8-time G2 Leader in the CDP space.
Source: https://www.businesswire.com/news/home/20230808371916/en/