The company to use the new investment to enhance platform’s capabilities and enter US market
Insider, founded in Turkey and based in Singapore, announced yesterday its $32 million Series C funding round, bringing total funding to date to $47M. The round was led by Riverwood Capital and was joined by Sequoia India, Wamda, and Endeavor Catalyst. The additional capital will be used to further enhance the award-winning platform’s capabilities, add top-tier engineers to Insider’s R&D team, and invest in the company’s global sales and marketing efforts.
Insider’s AI-powered platform enables enterprise marketers to connect customer data across channels and systems, predict their future behavior with an AI-powered intent engine, and orchestrate and deliver individualized experiences to customers. Their platform is unique in how it offers the widest set of product features in the market while coordinating all offline and online data across the unified platform and its various engagement channels. The powerful AI intent engine consists of 15+ algorithms that enable marketers to make precise predictions such as which customer segments are likely to convert, buy, and churn — and then design the most optimized experiences accordingly.
Not in a rush to raise investment: CEO
Insider CEO and Co-founder Hande Cilingir explained that as a profitable company they did not want to raise capital too soon but continued to receive strong inbound interest from VCs.
“We’ve only raised capital when we felt that we were ready to raise the bar to a whole new level. A self-imposed scarcity always made us more creative, more resourceful and more aggressive in reaching our goals,” she added.
“So far, we’ve focused on leading in high-potential markets in the Eastern part of the world. We’ve partnered with industry powerhouses like Samsung, Uniqlo, and Singapore Airlines in APAC as well as Qantas in Australia, and Marks & Spencer, Estee Lauder, and Carrefour in Europe. We plan to grow substantially in our existing 24 countries and we are now ready to enter the US market and believe that our fresh solutions to marketers’ biggest pain points will be a major differentiator,” added Cilingir.
Insider has been recently featured in the Gartner Magic Quadrant for Multichannel Marketing Hubs 2020 and became the #1 leader on G2Crowd’s Mobile Marketing Software Grid with a 4.7/5 rating based on 100% user reviews, 14 quarters in a row. Insider’s co-founder and CEO Hande Cilingir was selected as one of the top women CEOs outside of the US by Crunchbase.
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