Hear from CIOs, CTOs, and other C-level and senior execs on data and AI strategies at the Future of Work Summit this January 12, 2022. Learn more
Marketing activation platform ActionIQ has raised $30 million in funding from Silicon Valley venture capital firm Andreessen Horowitz.
The New York company said it can unify the data that is flooding into marketing organizations. With ActionIQ, marketers can take any data signal from one channel, such as the web, and market to the same customer in another channel, such as mobile. This allows large companies to tame the data flood and automate truly personalized, seamless, and predictive experiences for customers.
Previous investors Sequoia Capital and FirstMark Capital also participated in the round, and Shutterstock came on as a new investor.
“This new funding round further cements ActionIQ’s position as the leading marketing activation platform and will accelerate our expansion,” said ActionIQ CEO Tasso Argyros, in a statement. “Our mission remains to help marketers powerfully execute one-to-one marketing with speed, scale, and freedom without having to write SQL or depend on engineering and IT.”
ActionIQ’s major customers include Verizon, Weight Watchers, Shutterstock, and other large international brands.
“ActionIQ’s traction to date made our investment extremely attractive,” said Martin Casado, partner at Andreessen Horowitz, in a statement. “The pedigree of the management team and the deep understanding of both marketing technology and data will be a strategic advantage in helping the world’s best business-to-consumer marketers triumph. We look forward to adding ActionIQ to our list of disruptive companies.”
Casado will join ActionIQ’s board.
Marketers become much more tech- and customer-savvy with large amounts of data from multiple sources at their fingertips. The marketing clouds have been largely successful, but they have left a donut hole when it comes to data.
Marketing organizations are being flooded with new data from new channels: mobile, social, inventories, chat apps, and the web. The company said that few marketers have unified these data channels, which results in a roadblock when it comes to knowing customers and engaging with them.
“One of the most compelling aspects of ActionIQ’s technology is that it puts customer data directly into the hands of marketers,” said Shutterstock CEO Jon Oringer, in a statement. “As marketers become more data-driven and analytical they will need this level of connectivity, speed, and access.”
ActionIQ was founded in 2014 by Argyros and Nitay Joffe, and it has raised $45 million to date.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more