Observed Signal · Aug 9, 2023 · Funding · Source: CMSWire · Impact: 3/5 · Sentiment: Positive
Simon Data Raises $54M for Customer Data Platform Growth
Simon Data, a New York City-based customer data platform (CDP) provider, announced a $54 million Series D funding round led by Macquarie Capital, with participation from Polaris, .406, and F-Prime. This brings the company's total funding to $118 million. The company plans to use the funds to build connected applications with cloud data warehouses and expand its 'fully-connected CDP' offering. The funding comes amid a slow growth period for the CDP industry in the first half of 2023, according to the CDP Institute. Simon Data emphasizes a composable approach that integrates with cloud data warehouses like Snowflake. Industry analyst David Raab notes that while the funding is good for Simon, it may not have a major impact on the CDP space at large.
Simon Data's $54M Series D highlights continued investment in composable CDP and cloud data warehouse integration, but it is not a major platform change or industry-wide event.
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Key Takeaways & Evidence Grounding
- Simon Data raised $54 million in Series D funding.
- Total funding for Simon Data now stands at $118 million.
- The round was led by Macquarie Capital, with participation from Polaris, .406, and F-Prime.
- Simon Data launched Connected Segmentation for Snowflake in June 2023.
- The CDP industry saw slow growth in H1 2023, with new funding at record lows.
Connected Companies & Entities
9 Entities mapped“build customer segments directly within the Snowflake Data Cloud...”
“participation from several existing investors, including Polaris, .406, and F-Prime...”
“According to the Customer Data Platform Institute's CDP Industry Update...”
“The highest total funding is Klayvio with $778 million...”
“The largest funding round in 2023 as of June is Insider at $105 million...”
“Segment's platform leans toward the data foundation end of the spectrum...”
“partners that include IBM, Cloudera and Hortonworks...”
“according to Statista...”
Ontology Mapping & Concepts
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