Cross-channel platform Iterable has raised $200 million in Series E funding, bringing its valuation to $2 billion, the company says.
The round includes new investors Silver Lake, Adams Street Partners, Glynn Capital, and DTCP, and existing investors CRV, Viking Global Investors, Blue Cloud Ventures, and Capital One Ventures.
The company will use the money to accelerate its mission of helping brands achieve personalized, empathy-driven customer experiences at scale, it says.
Iterable’s cross-channel helps companies reach customers via email, web, mobile and social.
The goal is to empower marketers with “the right data and technology to deliver memorable customer experiences at every touchpoint,” states Andrew Boni, cofounder, president and CEO of Iterable.
Lee Wittlinger, a managing director at investor Silver Lake, adds that “Iterable is disrupting the $25 billion global marketing automation market.”
One user is Calm, an app designed to enhance sleep, meditation and relaxation, which claims to have achieved over 100 million downloads.
“The Iterable solution allows Calm to systematically engage our millions of customers on an individualized level by leveraging our data at scale,” says Sue Cho, head of Lifecycle Marketing at Calm.
Cho adds that Iterable is helping Calm create “individualized cross-channel journeys to gain a deeper, more holistic understanding of user behavior, ultimately driving growth.”
Boni took on the CEO role in April when the company fired CEO Justin Zhu for taking the psychedelic drug LSD on the job, according to Bloomberg.