Quantifind has secured $30 million in funding led by global investment firm Cathay Innovation, the company announced Wednesday. This round brings total funding to about $60 million. Previous investors Redpoint Ventures, U.S. Venture Partners, Comcast Ventures, Iris Capital and AME Cloud Ventures also joined the round.
The company's fourth round of funding will enable Quantifind to hire talent, invest in technology and data science, and expand into new markets and geographies within North America.
Today, Quantifind supports marketing services, but the company plans to take its data services into other areas like product development and strategy. "We're in the process of doing a lot of homework to determine how to best morph our technology platform from marketing into other areas," CEO David Karnstedt says.
Within the last year, Quantifind has more than tripled its customer base to include companies across nine new vertical markets, including financial services, automotive, health care, and retail, and has seen a 165% increase in sales year over year.