Zeotap is a Customer Intelligence Platform (CIP) that processes data analytics to deliver an increased Rate of Interest through Omni-channel marketing strategies.
Recently, the CIP platform announced to raise funds worth USD 18.5 million which loosely translates to INR 137.77 crore in its latest Series C funding round led by Venture Capital firm, SignalFire.
A lot of people unfamiliar with CIP may find it difficult to understand, but in reality, it actually isn’t. CIP, as mentioned earlier stands for Customer Intelligence Platform, it helps brands and companies to better understand their customers’ demands and needs to predict their purchasing behaviors, to better understand the trend and deliver products accordingly and boost their sales.
The latest infusion into the CIP Company was made by SignalFire’s Breakout Fund for companies that are progressing from their growth stage. This infusion of $18.5 million was an addition to USD 42 million that the company raised in its Series C funding round, earlier this year, in July.
Thus, in totality Zeotap has raised USD 60.5 million.
According to reports, this infusion of fresh funds will further be invested by Zeotap in its CDP or Customer Data Platform and ID+, company’s latest universal marketing identity solution to further boost the adoption rate of Zeotap Customer Intelligence Platform by brands and companies across 14 active markets.
Talking about latest updates, Zeotap has also added former Adobe executive, Taylor Barada and Chris Scoggins who is a former GM of Detalogix to the company board.
Furthermore, Chris Scoggins, Venture Partner, SignalFire says that COVID-19 has acted as a catalyst in transforming the market from a traditional TV budget to more effective and efficient channels. He added that the company’s investment in Zeotap is its testament to their beliefs in company’s vision, mission, leadership and most of all its rapidly growing Customer Intelligence Platform with ID+ as their solution to future marketing.
Chief Product Officer and founder, Zeotap- Projjol Banerjea mentioned in a statement that solutions can practically show significant results on industry-agnostic consumer data requirement, fundamentally for brands and companies. Such solutions can power real-time personalization and Machine Learning analytics for much better, efficient and improved marketing outcomes.
Zeotap currently works with 70% of the top 100 global brands list which includes Vodafone, BBVA, Red Bull, Mercedes Benz and Orange Telecom among many others.
The company has offices distributed globally in various geographies including Bangalore, Mumbai, Berlin, Milan, Paris, Madrid, London and New York City.
