Customer Data Platform Zeotap has announced an $11m extension to its Series C round. The extension follows the company raising $42m in July 2020, which was followed by an initial extension of $18.5m in November from SignalFire’s Breakout Fund. This new extension takes place to enable new investors such as Liberty Global Ventures to come on board, following oversubscription to previous rounds.
The new round brings the company’s total funding raised to $90M. Zeotap’s Customer Intelligence Platform (CIP) launched in 2020 and was designed to deliver on the more challenging compliance requirements of the European market. ID+, Zeotap’s Universal ID solution, was also launched last year to enable brands and publishers to resolve identities at scale when third-party cookies are deprecated in 2023.
Liberty Global Ventures, whose portfolio includes Skillz, Lacework and Samba TV, was one of many investors who contributed to the round. Other new investors include Richard Pennycook CBE, former CEO of the Co-operative Group.
“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,” said Kay Schwabedal, Chief Digital Officer, Virgin Media O2, Liberty Global’s UK Joint Venture with Telefónica. “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.”
Since its last extension round, Zeotap reported 126 per cent ARR growth in 2020 (a 201 per cent year-on-year growth in subscription revenue). The company has also signed several new clients, including Virgin Media, DER Touristik and Nestlé, and partnered with over 60 leading European publishers on ID+.