Computing technology provider Oracle has agreed to buy US-based customer loyalty software provider CrowdTwist for an undisclosed amount, enabling corporate investors Softbank, KBS+ and Bertelsmann to exit.
Founded in 2009, CrowdTwist has created a software platform that helps organisations interact and engage with customers across multiple channels while using artificial intelligence to analyse the resultant data.
Oracle will integrate CrowdTwist into its Customer Experience (CX) division once the deal closes. Oracle executive vice-president Rob Tarkoff said: “Oracle is taking a unique approach to the customer data platform space, enabling the application of intelligence across every customer touchpoint.
“CrowdTwist’s leading loyalty platform will significantly augment Oracle CX’s ability to help our customers build more meaningful relationships with their customers.”
The company has raised at least $20m in funding, including $9m in a 2014 series B round featuring Softbank Capital, KBS+ Ventures and Bertelsmann Digital Media Investments (BDMI), which invested on behalf of telecommunications firm SoftBank, advertising agency KBS+ and media group Bertelsmann.
StarVest Partners led the 2014 round, which included Fairhaven Capital Partners, and which was preceded by a $6m series A in 2011 backed by Softbank Capital, BDMI, KBS+ Ventures and Fairhaven Capital.
