Tealium, a giant information platform for structuring disparate buyer info, raises $55M led by Silver Lake
Posted in Technology NewsThe common enterprise at the moment makes use of about 90 completely different software program packages, with between 30-40 of them touching prospects straight or not directly. The information that comes out of these techniques can show to be very helpful — to assist different techniques and staff work extra intelligently, to assist corporations make higher enterprise choices — however provided that it’s put so as: now, a startup referred to as Tealium, which has constructed a system exactly to just do that and works with the likes of Fb and IBM to assist handle their buyer information, has raised a giant spherical of funding to proceed constructing out the companies it supplies. Right now, it's saying a $55 million spherical of funding — a Collection F led by Silver Lake Waterman, the agency’s late-stage capital development fund; with ABN AMRO, Bain Capital, Declaration Companions, Georgian Companions, Trade Ventures, Parkwood, and Presidio Ventures additionally taking part. Jeff Lunsford, Tealium’s CEO, mentioned that the corporate is just not disclosing valuation, however he did say that it was “considerably” greater than when the corporate was final priced three years in the past. (For context, that valuation was $305 million in 2016, in line with PitchBook — a determine Lunsford didn’t dispute once I spoke with him about it.) He added that the corporate is near profitability and is projected to make $100 million in revenues this yr, and that that is being thought-about the corporate’s “closing spherical” — presumably an indication that it's going to both not want exterior funding and that if it does, the subsequent step may be both getting acquired or going public. This brings the overall raised by Tealium to $160 million. The corporate’s rise over the past eight years has dovetailed with the fast development of huge information. The motion of companies to digital platforms has resulted in a sea of data. A lot of that largely sits untapped, however those that are capable of carry it to order can reap the rewards by gaining higher insights into their organizations. Tealium had its beginnings in amassing and ordering tags from web site visitors to assist optimise advertising and marketing and so forth — a enterprise the place it competes with the likes of Google and Adobe. Over time, it has expanded and capitalised to a a lot wider set of knowledge sources that vary nicely past net and commerce, and one use of the funding shall be to proceed increasing these information sources, and likewise how they're used, with an emphasis on utilizing extra AI, Lunsford mentioned. “There are new areas that contact prospects like good residence and good workplace , and every requires a step up in integration for an organization like us,” he mentioned. “Then after you have all of it centralised you may feed machine studying algorithms to have tighter predictions.” That huge potential is one cause for the investor curiosity. “Tealium allows enterprises to resolve the shopper information fragmentation drawback by integrating and enriching information throughout sources,in real-time to create audiences whereas offering information governance and constancy” mentioned Shawn O’Neill, Managing Director, of Silver Lake Waterman, in a press release. “Jeff and his crew have constructed a fantastic platform and we're excited to help the corporate’s continued development and funding in innovation.” The fast development of digital companies has already seen the corporate getting a giant increase when it comes to the info that's passing via its cloud-based platform: it has had a 300 p.c year-over-year improve in customer profiles created, with present tech prospects together with the likes of Fb, IBM, Visa and others from throughout quite a lot of sectors, akin to healthcare, finance and extra. “You’d be stunned what number of huge tech corporations use Telium,” Lunsford mentioned. “Even they've a restricted quantity of bandwidth in relation to creating their inside platforms.” Folks wish to say that “information is the brand new oil”, however today that expression has taken on maybe an unintended which means: similar to the overconsumption of oil and fossil fuels normally is seen as detrimental to the long-term well being of our planet, the overconsumption of knowledge has additionally grow to be a really problematic spectre in our very pervasive world of tech. Governments — the European Union being one notable instance — are taking on the problem of that latter challenge with new rules, particularly GDPR. Curiously, Lunsford says this has been factor somewhat than a nasty factor for his firm, because it offers a a lot clearer directive to corporations about what they'll use, and the way it may be used. “They need to observe the legislation,” he mentioned of their shoppers, “and we give them the info freedom and management to try this.” It’s not the one firm tackling the enterprise alternative of being a big-data repository at a time when information misuse is being scrutinised greater than ever: InCountry, which launched weeks in the past, can also be banking on this hole out there. I’d argue that this might probably be another reason why Tealium is eager on increasing to areas like IoT and different sources of buyer info: similar to the ocean, the pool of knowledge that’s there for the tapping is sort of limitless.