Marketing tech outfit Zeta Global, focused on data management, has raised $140 million, which as Adweek reports, reflects “a growing trend of investments” into cloud-based marketing efforts.
The total tally raised by the company to date stands at $250 million, and Zeta itself has said that it is growing 50 percent annually, logging sales of $300 million last year.
The company’s databases has information on 350 million individuals and sports an average of 3,000 pieces of data on each person, states the publication, with an eye on data management for firms as iconic as Sprint and Quaker.
Co-Founder David Steinberg told Adweek, that “we’ll take 10,000 of our clients’ best customers and feed it into our marketing cloud as an analytical module. That module will figure out everything about them — demographic data, behavioral data — and we then build psychographic grids automatically to our system … We generally help very large companies to cut their customer acquisition cost by an absolute minimum of 25 percent using our platform.”
With the data, the firm builds “clusters” of people with the demographics the firms are targeting, in efforts to, for example, reach new subscribers. Algorithms and machine learning help fine tune efforts, said the publication.
The capital raised will help Zeta continue an acquisition spree that has helped with technology build-outs, in addition to helping beef up staff. Through the past decade, the firm has bought nine startups.
The funding, noted TechCrunch, as a combination of debt and equity, and which values the firm at $1.3 billion, came from GPI Capital (Global Partnership Investing), and, among others, Franklin Square Capital Partners.
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