Customer tech firm Zeotap raises $18.5 m from SignalFire

Bengaluru | Updated on November 17, 2020 Published on November 17, 2020

(from left) Zeotap co-founders Daniel Heer (CEO) and Projjol Banerjea (CPO)

Zeotap, a customer intelligence platform, has raised an $18.5 million extension to its Series C funding round from venture capital firm SignalFire.

The investment was made from the firm’s Breakout Fund for growth-stage companies and is an addition to the $42 million announced earlier this year, bringing the total Series C round to $60.5 million.

Also read: Zeotap raises $42 million in Series C funding

The extension round, which closed in November, comes as Zeotap has experienced an increased demand for its customer data intelligence capabilities to serve top marketers and publishers across the globe. Zeotap said it plans to use the new funds to further invest in its customer data platform and ID+ universal marketing identity products as well as accelerate the adoption of its platform across its 14 active markets.

The company added that Chris Scoggins, former GM of Datalogix, and Taylor Barada, former VP of Corporate Development, Strategy and Strategic Partnerships at Adobe, are joining its board.

“Covid-19 has catalysed a transformation in the marketing mix as brands invest in their data and learnings to redirect traditional TV budgets to more effective channels. Our investment in Zeotap is testament to our belief in the company’s leadership, vision, and its rapidly evolving CIP with a built-in identity solution for the future of marketing, named ID+,” said Scoggins, Venture Partner at SignalFire.

Daniel Heer, founder and CEO of Zeotap, said: “We are humbled by the confidence our investors have placed in us. This further validates our strategy as a single, integrated customer data marketing suite in contrast to scattered point solutions. Our full-stack customer intelligence platform delivers on quicker deployments, lower costs, and operational efficiencies that arise from working with one, not several, vendors.”

Recognized by Gartner as a Cool Vendor (2020), Zeotap is leading the way in identity resolution by developing a cookieless identity solution based on the world’s largest deterministic marketing identity graph, said the company statement. As a founding member of the ID+, a universal marketing ID initiative, Zeotap enables its platform clients to easily gain access to this natively embedded solution to future-proof one-to-one marketing for brands and publishers.

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Published on November 17, 2020
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