Cordial has raised $15 million so it can enhance its next-generation email platform built on real-time data.
PeakSpan Capital led the round, and existing investors Upfront Ventures and High Alpha also joined the round. Cordial said it has doubled both customer and revenue growth within the last year, and it will use the new funds to expand its multi-channel capabilities, including mobile, browser notifications, and web forms, in order to meet the needs of marketers.
Customer buying behavior is changing faster than most companies can keep up with, according to the San Diego, California-based company. Time, place, and device are constantly shifting variables, generating a massive amount of widely dispersed data.
Cordial said that legacy marketing clouds like Oracle, Adobe, IBM and Salesforce simply weren’t built to move as quickly as today’s consumers, and they weren’t designed to process the amount of real-time customer data required to create timely, personalized experiences.
Technology acquisitions and bolt-on fixes have resulted in overloaded information technology teams, lengthy campaign creation cycles, and poor customer experiences. New category entrants have also struggled to activate customer data, relying on segmentation rather than enabling true one-to-one, real-time personalization.
Cordial founders Jeremy Swift, Chris McGreal, and Adam Gillespie said they foresaw as industry veterans how existing solutions would become ineffective as technology moved on. Instead of making iterative improvements to existing framework, they spent years coding and building a new architecture with comprehensive data processing capabilities at its core. Developed from the ground up, Cordial empowers brands to create rich, personalized customer experiences based on real-time data across multiple messaging channels.
“The big four marketing clouds simply weren’t architected to anticipate the amount of customer data that marketers need to track, analyze and act on in real time,” said Swift, CEO at Cordial, in a statement. “As the complexity and volume of customer data continues to grow, marketers’ need for an agile solution that enables personalized communication across channels will only increase. We’re thrilled to partner with PeakSpan as we continue to scale our technology and grow our multichannel capabilities.”
Customers include Freshly, Revolve, La Quinta, and 1-800 Contacts.
“There’s no doubt that Cordial is and will continue to be a category-defining company,” said Phil Dur, cofounder and managing partner at PeakSpan, in a statement. “Jeremy and team had the deep industry knowledge and keen foresight to anticipate how the email service provider industry would evolve, and the impressive tech chops to get out in front of it. We’re excited to partner with them as they continue to evolve the company to meet the needs of tomorrow’s marketer.”