Germany-based customer intelligence provider Zeotap closed $42m in series C funding yesterday from investors including MathCapital, the venture capital firm affiliated with programmatic technology provider MediaMath.
The round also featured family office Kathaka, Neue Capital, TTCER Partners, Coparion, the German government and European Investment Bank. Half of the funding was raised in 2019 from existing investors and the other half this year, the company said.
Zeotap has built a software platform that uses artificial intelligence to analyse first-party data in order to help businesses find out more about their customers, strengthen brand loyalty and personalise content recommendation.
Proceeds from the round will go to further development of the company’s core platform in addition to its marketing identity software tool, ID+. It brought Zeotap’s total funding to $62.5m since it was founded in 2014.
The company secured $12.8m in a 2017 series B round featuring mapping technology producer Here, New Science Ventures and existing backers Capnamic Ventures and Iris Capital. Its earlier investors include HitFox.
Daniel Heer, founder and chief executive of Zeotap, said: “Once again, some of the world’s most established investors have placed their trust in us. In a tumultuous time for the industry, this will allow us to continue on our mission to deliver solutions to marketers’ most pressing problems.”
