Ometria plans to use the funds to increase the size of its product and engineering team. Here are the top-line bullets you need to know.
Ometria, a customer marketing platform for brands and retailers, has raised $40M in a Series C round. This round drew participation from Adjuvo, Columbia Lake Partners, and InfraVia Capital, among others.
How’s the company performing?
- United Kingdom-based Ometria leverages AI in order to enable retailers and brands to send personalized marketing messages to their customers.
- The company’s 200 clients include brands like Steve Madden, Aden + Anais, Pepe Pants, Resort Chocolat, and Notonthehighstreet.com.
- The company doubled its employee count to 120 over the past year.
Why does the market matter?
- The customer data platform market is projected to grow at a CAGR of 34.6% and reach a value of $15.3B by 2026, according to Markets and Markets.
- E-commerce growth, increasing digital marketing complexity, and higher demand for data analytics solutions have all contributed to market growth.
- CAC (customer acquisition cost) has grown exponentially amid the Covid-19-induced surge of online shopping, leading brands to adopt personalization technologies to foster customer loyalty.