The round was led by existing investors Updata Partners with participation from Rittenhouse Ventures and LinkedIn.
LinkedIn went in, believing that “Piano's leadership in the content commerce space makes them a natural, strategic investment opportunity,” states Scott Roberts, vice president-head of business development at LinkedIn.
Roberts explains: "We know publishers are increasingly seeing referral traffic from LinkedIn fuel subscription sign-ups, and we only see this growing as we partner more closely with Piano.”
Piano plans to use the new funds to enhance its data and analytics products.
Recently, the firm integrated its data-management tools with its customer journey orchestration product Composer. And, it has acquired AT Internet, a firm based in France.
Piano works with media brands such as CNBC, The Wall Street Journal, NBC Sports, Insider Inc., The Economist, Gannett, Le Parisien, Nielsen, MIT Technology Review, The Telegraph and South China Morning Post.
In its prior round in 2019s, Piano received $22 million in Series B funding. Following that, it acquired Norway-based DMP Cxense.
Piano has “a true end-to-end platform that can power all aspects of the customer journey,” states Jon Seeber, general partner of Updata Partners and a member of Piano's board of directors.