US-based loyalty marketing platform developer SessionM received $35m yesterday in a series D round backed by Salesforce Ventures, the strategic investment arm of enterprise software provider Salesforce.com.
Growth equity firm General Atlantic led the round, which included investment fund Causeway Media Partners and venture capital firms Charles River Ventures (CRV), Highland Capital Partners and Kleiner Perkins Caufield & Byers (KPCB).
SessionM’s software, which is compatible with Salesforce, analyses customer behaviour across multiple channels and attaches it to their profile in a company’s customer relationship management (CRM) database. The customer can then be automatically provided with personalised responses.
Lars Albright, SessionM’s co-founder and CEO, said: “The objective of every CRM strategy is to improve customer loyalty. That requires transitioning beyond a static, list-based CRM to one that enables dynamic personalisation as customers engage across various channels.
“Our platform is built to enable customised customer interactions at scale. With General Atlantic’s strong expertise in the marketing technology sector, we look forward to adding even more resources to our platform, acquiring more blue-chip customers and further expanding our global footprint.”
The round, closed at a $205m valuation according to Bloomberg, took SessionM’s total funding to $73.5m.
NTT Docomo Capital, the corporate venturing subsidiary of telecom network NTT Docomo, took part in its $12m series C round in May 2015, investing together with Causeway Media, Commerce Ventures, Highland Capital, CRV and KPCB.