• by Ray Schultz , May 26, 2017

BounceX, a firm that offers cloud-based behavioral marketing services, has raised $31 million in new funding from the Silicon Valley Bank and its original investors, the company announced this week. 

The financing will be used for “strategic eight-figure acquisitions” and for investments in engineering resources, the BounceX database and a device graph to support clients. In general, the money will “allow us to continue to invest heavily in further increasing product performance,” said CEO Ryan Urban in a statement. 

Launched in 2012, BounceX helps companies track consumers across devices and use the data to drive behavioral email and other marketing activities. Its clients include Neiman Marcus, Rodale, Time Inc. and Jet Blue. 

The firm, which offers services under the broad heading of “The Behavioral Marketing Cloud,” claims a three-year growth rate of 14.575% 

Business Insider reported that BronxX creates profiles by tracking over 20 identifiers. “Marketers can use their own email address lists and other first-party data to match up with BounceX's profiles and potentially connect with customers on multiple devices,” the article continued. 

In 2015, BounceX raised $6.45 million from six investors led by 500Friends founder Justin Yoshimura. They included Contour Venture Partners, Primary Venture Partners and New York Yankees star Alex Rodriguez, Sudipto Ghoshreports on MarTech.