US-based online marketing technology developer Dynamic Yield has closed a $38m series D round following an extension led by internet company Naver, TechCrunch has reported.
Naver invested $5m but it is unclear who the other participants in the extension are. Dynamic Yield raised $32m for a first close in August this year that was led by Viola Growth and backed by Union Tech Ventures, the investment arm of car distributor Union Group.
The company has achieved a nine-figure valuation that is under $500m, an unnamed employee of the company told TechCrunch.
Founded in 2011, Dynamic Yield operates a platform that uses machine learning to help marketing teams personalise their interactions with customers in real time. It claims to have signed up 220 clients internationally which reach 600 million consumers between them.
Naver will assist Dynamic Yield with an expansion into South Korea and Japan by incorporating the platform into its own services and those of its partners.
Dynamic Yield also hopes to expand its technology to make it usable in brick-and-mortar stores and by companies that conduct their business on third-party platforms rather than through a dedicated website or app.
The company has raised $83m to date. Internet group Baidu and Deutsche Telekom Capital Partners, an investment vehicle for telecommunications firm Deutsche Telekom, contributed to a $31m series C round closed in July 2017.
Vertex Ventures, the venture capital arm of Singaporean state-owned investment firm Temasek, also took part in the series C round, as did La Maison, ClalTech, Bessemer Venture Partners (BVP), Marker and Innovation Endeavors.
Media company New York Times participated in a $12.3m series B round for the company in 2014 that included broadcasting group ProSiebenSat.1, Marker, BVP and Innovation Endeavors, having joined the latter two for a $2m series A the previous year.
