US-based data management software provider ActionIQ secured $32m on Wednesday in a series C round that, according to TechCrunch, included Cisco Ventures, networking technology producer Cisco’s corporate venturing unit.
Technology investment firm March Capital Partners led the round, which also featured venture capital firms Sequoia Capital, Andreessen Horowitz and FirstMark Capital. The company described the round as including those three but did not confirm Cisco’s participation.
ActionIQ has built a software platform that enables enterprises to analyse customer data in real time in order to offer services tailored to each individual. The series C funds will be channelled into sales, marketing and research and development.
Tasso Argyros, ActionIQ’s co-founder and chief executive, said: “Today’s consumers expect the brands they interact with to deliver personalised and relevant experiences across every brand interaction, both offline and online.
“The only way to do this is with customer data, which enterprises have troves of but have traditionally been unable to leverage. ActionIQ is changing that, and letting enterprises tap into this valuable data asset to better engage their customers.
“We are bringing the level of personalisation that consumers get from digital leaders like Amazon and Netflix to all brands, even ones that are based primarily in the offline world.”
Meredith Finn, a partner at March Capital Partners, will join ActionIQ’s board of directors in connection with the round, which increased the company’s overall funding to $75m.
ActionIQ raised an undisclosed amount in a 2014 seed round led by Sequoia Capital and $13m in series A funding from Sequoia, FirstMark Capital, Bowery Capital, Amplify Partners and Stanford University’s Stanford Engineering Venture Fund in April 2017.
Andreessen Horowitz led the company’s $30m series B round, which was also backed by Sequoia Capital, Firstmark Capital and image database operator Shutterstock, six months later.
