Blueshift, the leading AI-Powered Customer Data Platform (CDP), announced a $30 million Series C financing round, bringing the total amount raised to $65 million.
This latest funding round was led by Fort Ross Ventures, along with Avatar Growth Capital. Existing investors including Softbank Ventures Asia, Storm Ventures, Conductive Ventures and Nexus Venture Partners also participated in the round. Ratan Singh of Fort Ross Ventures will join Blueshift’s Board of Directors.
Blueshift is the leading SmartHub Customer Data Platform (CDP) that combines customer data, AI and omnichannel orchestration in an easy-to-use platform. CDP is a software that combines data from multiple tools to create a database of your customers. That database can then be segmented in a nearly endless number of ways to create more personalized marketing campaigns.
With the increased urgency towards digital transformation, Blueshift cofounder and CEO Vijay Chittoor said the company has seen an increased demand for a SmartHub CDP, that can not only unify siloed data but also unify silo-ed experiences.
“I am very pleased to welcome both Fort Ross Ventures and Avatar Growth Capital to the Blueshift family as they have tremendous experience with enterprise-focused scale-ups at our stage of rapidly accelerating growth,” said Vijay Chittoor.
Besides Cofounder and CEO Vijay Chittoor, Blueshift is also led by Cofounder and Chief Technology officer Mehul Shah
and Cofounder and Chief AI Officer Manyam Mallela.
Blueshift is ranked 139 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America now in its 26th year. Blueshift grew revenue 858% during the measured period of 2016-2019.
Marketing and Customer Experience (CX) are increasingly intertwined in today’s connected world, and marketers are being tasked with understanding customers through the lens of CX data to craft personalized experiences.
However, traditional marketing platforms focus only on marketing response data (like clicks), and are unable to leverage CX data from across the customer journey.
The first generation of CDPs attempted to solve this challenge by focusing only on data integration, but lacked any intelligent decisions, and was not built for marketers or CX professionals.
Blueshift’s SmartHub CDP platform combines the data fidelity of a CDP with the intelligence needed for marketers to make real-time decisions.
This enables marketers to not only unify 360-degree CX data (“CDP”), but also to make AI-Powered decisions from large volumes of data (“Smart”), and distribute the decisioning to every touchpoint in the customer journey (the “Hub”).
“Our mission is to back category-leading companies that are poised to dominate a market. Blueshift clearly stood out to us as the leader in the enterprise CDP space,” said Ratan Singh.
The company helps brands deliver relevant, connected experiences across every customer interaction. The Blueshift SmartHub CDP platform uses patented AI technology to unify, inform, and activate the fullness of customer data across all channels and applications.
Through unified data, omnichannel orchestration, intelligent decisioning, and unmatched scale, Blueshift gives brands all the tools they need to seamlessly deliver 1:1 experiences in real-time across the entire customer journey. The company has come up with solutions for email automation, mobile marketing, website personalisation, audience targeting and contextual chat.
Expressing happiness over participating in the funding, Fort Ross Ventures’ Ratan Singh said the investment company’s mission is to back category-leading companies that are poised to dominate a market. Blueshift clearly stood out to us as the leader in the enterprise CDP space.
“We are thrilled to partner with the Blueshift team as they accelerate the adoption of their SmartHub CDP platform.” Ratan Singh who will also become Blueshift’s newest board member.
San Francisco based Blueshift’s SmartHub CDP platform has been adopted by leading global brands including LendingTree, Discovery Inc., Udacity and BBC among others, and has been shown to deliver 781% ROI in a recent study conducted by Forrester Research.
Blueshift was recently named among the fastest-growing companies on Deloitte’s Fast 500 Technology Awards, which lists the fastest growing technology companies in North America. Blueshift will use the proceeds from this latest funding round to further accelerate its global growth, cementing its leadership position in the CDP space.
Expressing happiness over Blueshift product capability, LendingTree Senior Director of Customer Experience Chris Kachel said one of the biggest challenges in 1:1 marketing is the need to activate large volumes of data when you scale to millions of customers across multiple touchpoints.
“Unlike other platforms that struggle with handling increasing amounts of data, Blueshift becomes more powerful the more data you have in it. This has allowed us to scale our personalization efforts and customer journeys across multiple apps on different channels, and the results have been tremendous,” said Chris Kachel.