Tealium, an enormous knowledge platform for structuring disparate buyer data, 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 instantly or not directly. The info that comes out of these techniques can show to be very helpful — to assist different techniques and workers work extra intelligently, to assist firms make higher enterprise selections — 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 knowledge, has raised an enormous spherical of funding to proceed constructing out the companies it supplies. In the present day, it's asserting a $55 million spherical of funding — a Sequence F led by Silver Lake Waterman, the agency’s late-stage capital development fund; with ABN AMRO, Bain Capital, Declaration Companions, Georgian Companions, Business Ventures, Parkwood, and Presidio Ventures additionally collaborating. Jeff Lunsford, Tealium’s CEO, stated 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 keeping with PitchBook — a determine Lunsford didn’t dispute after I spoke with him about it.) He added that the corporate is near profitability and is projected to make $100 million in revenues this 12 months, and that that is being thought of the corporate’s “closing spherical” — presumably an indication that it'll both not want exterior funding and that if it does, the subsequent step is perhaps both getting acquired or going public. This brings the overall raised by Tealium to $160 million. The corporate’s rise during the last eight years has dovetailed with the speedy development of huge knowledge. The motion of companies to digital platforms has resulted in a sea of knowledge. A lot of that largely sits untapped, however those that are capable of deliver 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 information sources that vary nicely past internet and commerce, and one use of the funding will probably be to proceed increasing these knowledge sources, and in addition how they're used, with an emphasis on utilizing extra AI, Lunsford stated. “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 stated. “Then after you have all of it centralised you possibly can feed machine studying algorithms to have tighter predictions.” That huge potential is one motive for the investor curiosity. “Tealium allows enterprises to resolve the shopper knowledge fragmentation downside by integrating and enriching knowledge throughout sources,in real-time to create audiences whereas offering knowledge governance and constancy” stated Shawn O’Neill, Managing Director, of Silver Lake Waterman, in an announcement. “Jeff and his staff have constructed an amazing platform and we're excited to assist the corporate’s continued development and funding in innovation.” The speedy development of digital companies has already seen the corporate getting an enormous increase by way of the information that's passing by way of its cloud-based platform: it has had a 300 % year-over-year enhance 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, corresponding to healthcare, finance and extra. “You’d be shocked what number of large tech firms use Telium,” Lunsford stated. “Even they've a restricted quantity of bandwidth in terms of growing their inside platforms.” Folks wish to say that “knowledge is the brand new oil”, however lately that expression has taken on maybe an unintended that means: identical to the overconsumption of oil and fossil fuels on the whole is seen as detrimental to the long-term well being of our planet, the overconsumption of information has additionally turn out to be a really problematic spectre in our very pervasive world of tech. Governments — the European Union being one notable instance — are taking over the problem of that latter problem with new laws, particularly GDPR. Curiously, Lunsford says this has been a great factor relatively than a foul factor for his firm, because it provides a a lot clearer directive to firms about what they'll use, and the way it may be used. “They wish to observe the legislation,” he stated of their purchasers, “and we give them the information 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 knowledge 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 data: identical to the ocean, the pool of information that’s there for the tapping is almost limitless.