US-based marketing platform operator Iterable completed a $200m series E round yesterday featuring Capital One Ventures, the corporate venturing arm of financial services firm Capital One, and DTCP, a vehicle backed by telecommunications group Deutsche Telekom.
The round valued the company at $2bn and also featured investment managers Adams Street Partners and Viking Global Investors and investment firms Silver Lake and Glynn Capital, as well as VC firms Blue Cloud Ventures and CRV.
Founded in 2013, Iterable operates an online platform that enables businesses to engage with their customers through personalised and automated messaging. It facilitates communication through a variety of methods including email, push notifications and text messages.
The company has raised about $342m to date, including $60m in a December 2019 series D round led by Viking Global Investors and backed by Index Ventures, CRV, Blue Cloud Ventures, Harmony Partners and Stereo Capital. The last five had also taken part in its $50m series C round in March that year.
Index Ventures led Iterable’s $23m series B round in December 2016, which was backed by CRV and undisclosed existing investors, following an $8m series A round led by CRV 11 months earlier.
Iterable had collected $1.2m of seed funding from Merus Capital, 645 Ventures, TEEC Angels, 500 Startups and angel investor Yun-Fang Juan in 2015. having participated in the AngelPad accelerator in 2013. It described Capital One Ventures as an existing backer in the series E announcement.