MarTech industry funding is tough to find if your startup is struggling to find the right people to continually improve the technology foundation, sell new deals quickly enough, as well as ensure happy customers remain really, really happy.
Yet, many of the fastest growing marketing tech startups are growing even faster because they are using Comeet to build their teams on a global scale. (Our Customers page provides a glimpse of what recruiting with Comeet is like). We loved seeing recent announcements from two of our customers, Datorama and Optimove, about impressive funding successes.
It’s Tough to Raise Money if You’re Not Growing Fast
These MarTech industry funding milestones are even more impressive because there’s been so much talk throughout 2016 in tech investing circles about the difficult post-Series A landscape. As venture capitalists have raised their standards for startups to secure follow-on investments, the demands to prove tangible market demand and sustain real revenue growth have risen. This essentially means that startups need to be crushing their numbers to ensure continued support from their financial backers.
Datorama and Optimove certainly fit this success profile.Datorama has a customer list that already includes L’Oreal, Foursquare, Yahoo! JAPAN, GoDaddy and thousands of other names. It’s recent $32 million Series C round illustrates global customer adoption for its marketing analytics technology. Led by Lightspeed Venture Partners, the round brought the company’s total funding to $50 million. Marker LLC and Eric Schmidt’s Innovation Endeavors also participated in the new funding that will accelerate research and development in the artificial intelligence field.
Optimove is a really interesting success story because it self-funded its way through seven years of growth. The $20M from by private equity from Israel Growth Partners valued Optimove at $100 million and is the company’s first outside funding.
Optimove’s customer retention technology uses big data to understand customer preferences, predict future tendencies, then personalize marketing campaigns using email, social media, SMS and other channels. Companies benefitting from automated, behavior-based 1-to-1 communications include 1-800-FLOWERS.com, eBags, Zynga, Outbrain, Nelly, Lucky Vitamin, and Caesar’s Interactive Entertainment.
So congratulations to everyone at both Datorama and Optimove. Keep growing. Keep expanding your org charts and opening new offices. We’ll continue to deliver the collaborative recruiting platform you need to find the right people to thrive in those roles.
If you’re a company that needs to ramp up recruiting to close your next MarTech industry funding marker, give us a call.