Dynamic Yield, a US-based provider of personalised marketing technology, raised $22m in series C funding on Tuesday from investors including internet company Baidu.
The round was co-led by Vertex Ventures and ClalTech, and included Global Founders Capital, Bessemer Venture Partners (BVP), Marker and Innovation Endeavors. It boosted the company’s overall funding to approximately $34m.
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.
BVP led Dynamic Yield’s $2m series A round in 2012 with backing from Innovation Endeavors and media firm New York Times Company. Dynamic Yield added $12.3m in 2014 from New York Times, BVP, Innovation Endeavors, Marker and media group ProSieBenSat.1.
Alex Cheng, general manager of Baidu USA, with which Dynamic Yield has already partnered, said: “While traffic acquisition is critical, customers interact with brands across multiple interfaces as they research before they buy.
“Hence, [return on investment] becomes increasingly dependent on seamless, comprehensive web and mobile customer experiences. We were deeply impressed by the technology DynamicYield has built and believe that any advertiser will benefit from leveraging its platform.”