San Diego’s Cordial, which has developed a digital marketing and real-time data management platform to help brands to reach customers, said this week that it has raised $50 million in a third round of venture capital funding.
The new money brings the total amount raised by Cordial since it was founded eight years ago to $85 million. The company, based downtown, intends to use the money to add features to its technology platform for automating the delivery of personalized digital marketing messages via emails, text messages, mobile apps and other channels. It also expects to expand globally and boost its headcount, which currently sits at roughly 130 employees.
Customers include Boot Barn, Eddie Bauer, Forbes, Revolve, Backcountry and Purple, among others. While the $8 billion global marketing automation market is crowded with competitors, Cordial says its platform offers customers a different approach.
“Cordial gives marketers the technology and tools to use customer and business data for hyper-personalized messaging in real-time, in one platform, ” said Jeremy Swift, chief executive and co-founder, in a statement.
NewSpring led this round, along with new investor ABS Capital. Earlier investors in the company include High Alpha and Upfront Ventures.
As part of the funding, NewSpring partner Brian Kim will join Cordial’s board of directors. ABS Capital Partner Bion Ludwig will sit as an observer on the board.
“Cordial stands out in its ability to consistently deliver value to marketers in need of a dynamic answer and all-in-one solution for personalization and automation,” said Kim in a statement. “Cordial offers what other solutions lack in breadth, scalability, and enterprise-grade support, truly partnering with marketers to make the most of their first- and zero-party data.”
Get U-T Business in your inbox on Mondays
Get ready for your week with the week’s top business stories from San Diego and California, in your inbox Monday mornings.
You may occasionally receive promotional content from the San Diego Union-Tribune.
West Virginia cities and counties have reached a $400 million tentative settlement with three major U.S. drug distributors
Stocks closed lower on Wall Street Monday as investors began another busy week of earnings and economic reports
Spain has approved a new set of energy-saving measures that includes prohibiting air conditioning to be set lower than 27 degrees Celsius (81F) in summer and requiring stores to keep their doors shut to maintain temperatures
Stocks that traded heavily or had substantial price changes Monday: PerkinElmer, Boeing rise; Royal Caribbean, Aerojet fall
Wheat for Sep. was off 7.50 cents at $8.0025 a bushel; Sep. corn lost 9.25 cents at $6.07 a bushel, Sep. oats was fell 7.50 cents at $4.4050 a bushel; while Sep. soybeans declined 42.75 cents at $15.9425 a bushel.
Benchmark U.S. crude oil for September delivery fell $4.73 to $93.89 a barrel Monday