New York: Marketing Evolution, provider of global AI-based marketing optimization and analytics software, today announced a $20.6 million Series B financing round led by leading global private equity and venture capital firm, Insight Venture Partners, with continued participation from existing investor, Zetta Venture Partners. This round brings the total invested to date to $24.6 million.
This new funding will be used for continued product innovation, further expansion of the company’s marketing and sales departments, and to support its growing global customer base. Jeff Horing, co-founder and managing director at Insight Venture Partners, will join Marketing Evolution’s Board of Directors.
“Marketers are hungry for a better solution to planning, investing resources, and optimizing marketing,” said Rex Briggs, founder and CEO of Marketing Evolution. “We are proud of the quality and diversity of customers using our software today including Allstate Insurance Company, Carfax, Inc, Collette Travel, Cox Business, Famous Footwear, Regions Bank, and Monarch Casino (Atlantis).”
The company is defining a new category for customer-obsessed marketing by pioneering “Person-Centric Business Decisioning” that combines measurement, insights, optimization, and execution, using person-level data and analytics. It helps marketers make informed decisions about connecting with customers, adds transparency, removes friction, reduces costs, and increases ROI. This enables companies to fully unlock the power of customer relationships and use insights to make the overall business more effective, efficient, and profitable.
“Marketing Evolution’s Person-Centric Business Decisioning is driving a new category, providing companies with the ability to translate their customer data into actionable business choices and strategies,” said Jeff Horing, managing director at Insight Venture Partners. “Marketing Evolution leverages millions of data points from hundreds of sources using the most advanced algorithms to extract person-level insights. It’s clear the company will continue to capitalize on the opportunity to define a new category and accelerate its scaling through product innovation and growth.”
In a unique move, Marketing Evolution is giving employees the ability to directly participate in the value creation from Series A to Series B. “Usually only the Founders get the option to sell some of their stock to investors and benefit from the value creation, but our culture is that we are all in this together,” stated Founder and CEO Rex Briggs. “I wanted our team members to be able make some of their dreams a reality by creating liquidity for their vested shares. Of course, given our leadership in the industry and growth, there is a lot of value to holding onto the stock, which is what I’m personally doing.”