Zeotap, a customer data platform (CDP) based in Germany and Bengaluru has raised an $11 million extension to its Series C round, following the previously raised $42 Mn in July 2020 and $18.5 Mn in November 2019, and the latest round is the last in Series C.
The current extension, led by Liberty Global Ventures, will add the Venture Capital platform to onboard Zeotap, post-over-enrollment in previous rounds. Other new investors include Richard Pennycook CBE (former CEO of Co-operative Group) and senior executives across global SaaS and retail. The new round brings the startup’s total funding raised to $90 Mn.
Launched in 2014 by Daniel Heer, Projjol Banerjea and Stephan Schwebe, Zeotap unveiled its customer intelligence platform (CIP) and Product ID solution in 2020 to address European market compliance requirements and enable brands and publishers to resolve identities at scale when third-party cookies were deprecated in 2023.
Post the previous extended round, the firm has reported growth by 126% ARR (annual run rate) by 2020, a 201% increase in YoY for subscription revenue. The company has signed up with many new customers, including Virgin Media, DER Touristik and Nestle, and has partnered with more than 60 top European publishers on ID +.
Kay Schwabedal, Chief Digital Officer, Virgin Media O2, Liberty Global’s UK Joint Venture with Telefónica, said, “Zeotap’s drive to put privacy at the heart of customer data initiatives is unique in the space and arrives exactly when the market needs it more than ever. It’s no surprise that this has resulted in an incredible growth trajectory, and we’re thrilled to be on board to support this mission.”
“With our last investment round and extension so oversubscribed, we’re pleased to now have the opportunity to bring new investors on board,” said Daniel Heer, Founder and Chief Executive Officer of Zeotap. “This further fuels the incredible momentum that we’ve generated since the launch of our platform, and we’re excited to have even more support on this journey.”
Recently, Zeotap announced the launch of Predictive Audiences, which enables users of Zeotap’s Customer Intelligence Platform (CIP) to create and activate machine-learned segments without the need for data science technology.