Amperity, an AI-powered customer data management platform, has collected $50m in its Series C round.
Contributions came from Tiger Global Management, Goldman Sachs, Declaration Partners, Madera Technology Partners, Madrona Venture Group, and angel investor Lee Fixel.
Capital from the round will be used to develop new capabilities and expand into new verticals including financial services, insurance, automotive, and healthcare, while furthering growth within the retail, travel, and hospitality industries.
The RegTech company helps businesses to unlock their customer data, while ensuring its security. With AI technology the platform can improve the identity resolution of customer data and uncover hidden connections and improve an enterprise’s view of customers.
This investment has come after a period of strong growth for Amperity which saw its annual recurring revenue grow 335 per cent over the past year.
Amperity CEO and co-founder Kabir Shahani said, “It’s crucial for today’s brands to be directly connected to the consumers they serve, and that can only happen when they have the ability to use the data they have about those customers.
“In just shy of two years, we’ve been able to develop a platform that, for the first time, helps companies tap into previously unattainable data and unify it so they can better understand and connect with their customers. And when customers are consistently seeing a 10x return on their investment, we know we’re delivering a solution that works. It’s incredibly gratifying to play a part in seeing our users unleash their best ideas for the very first time.”
Following the close of the round, the RegTech startup has raised $87m in total funding.
Copyright © 2018 RegTech Analyst
