AI-powered customer data management company Amperity, the Seattle-based startup has announced picking up $50 million as part of Series C financing. The latest capital round was led by Tiger Global Management while the likes of Goldman Sachs, Declaration Partners, Madera Technology Partners, Madrona Venture Group also participated in the round. Notably, Tiger Global Management had led the Series B round worth $28 million in 2017. The current infusion takes the total amount raised by Amperity to $87 million.
Founded in 2016 by Derek Slager, Kabir Shahani, the firm uses AI technology to use data in order to serve the customer better. Shahani says that Amperity has the power to “ingest every piece of atomic-level data remotely related to a customer and assemble it into a customer 360.”
Using the fresh funds, the firm will speed up their efforts towards “new capabilities” along with helping the expansion into new verticals like financial services, automotive, insurance, health care, retail, travel, and hospitality.
Shahani talking about the company and about the speed with which it has grown said, “It’s crucial for today’s brands to be directly connected to the consumers they serve, and that can only happen when they have the ability to use the data they have about those customers. In just shy of two years, we’ve been able to develop a platform that, for the first time, helps companies tap into previously unattainable data and unify it so they can better understand and connect with their customers.”
Declaration Partners’ Brian Stern commenting on the firm and its ability said, “Amperity aligns with our strategy of investing in established and growing companies with proven management teams. Amperity solves an incredibly difficult consumer data problem through an innovative and fresh approach, helping their clients harness this information to better serve their customers.”
As the fresh funds arrive, it will be interesting to see how Amperity manages to utilize the same and grow by offering solutions to the new verticals.
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