US-based marketing personalisation platform Dynamic Yield closed its series C round at $31m yesterday, with telecommunications firm Deutsche Telekom coming on board through its corporate venturing unit, Deutsche Telekom Capital Partners (DTCP).
Investment firm La Maison also contributed to the $9m extension, which followed a $22m initial close in December 2016 that featured internet company Baidu.
The first tranche was co-led by Vertex Ventures, the venture capital firm owned by the Singaporean government’s investment firm Temasek, and investment firm ClalTech, while Bessemer Venture Partners, Marker and Innovation Endeavors also participated.
Founded in 2011, Dynamic Yield has developed software that uses machine learning to build up a substantial picture of a prospective customer, allowing clients to direct personalised marketing to specific segments in real time.
The money will be used to expand Dynamic Yield’s technology into new verticals, boost investment in its machine learning and artificial intelligence technology, and increase the company’s market share.
Dynamic Yield has raised approximately $45m in total. Bessemer led a $2m series A round in 2012 that included media company New York Times and Innovation Endeavors.
New York Times subsequently also contributed to a $12.3m round in 2014 alongside media group ProSiebenSat.1, Bessemer, Innovation Endeavors and Marker.
Guy Horowitz, investment partner at DTCP, said: “We were amazed by Dynamic Yield’s strong machine learning capabilities, which allow for predictive, algorithmic user segmentation.
“The company has established itself as the leading full-stack solution provider for online retailers, publishers and vendors, for which personalisation has become a crucial differentiator and predictor of success.”