Evergage Raises $10 Million In Series B Funding
Leading the 1:1 Personalization Revolution, Evergage Secures Additional Investment to Accelerate Growth and Solidify Its Position as the Most Comprehensive, Marketer-Driven Personalization Platform
Leading the 1:1 Personalization Revolution, Evergage Secures Additional Investment to Accelerate Growth and Solidify Its Position as the Most Comprehensive, Marketer-Driven Personalization Platform
SOMERVILLE, Mass., Jan. 12, 2016 /PRNewswire/ -- Evergage, the leading provider of real-time personalization, today announced it has raised an additional $10 million in venture capital. This successful Series B round, led by Arrowroot Capital, together with existing investors G20 Ventures and Point Judith Capital, brings the total funds raised to more than $21 million.
With this new round of funding – and at a time when 1 in 2 marketers plans to increase their budgets for personalization in the next year – Evergage will continue to enhance its solutions to meet the needs of customers across industries. Having delivered more than 1 billion personalized content impressions to date, Evergage is leading a movement to make every digital interaction a truly individualized, 1:1 experience – helping companies increase customer engagement and conversions.
"Personalization is the word on every marketer's lips for 2016, and Evergage stands above in our eyes. Their end-to-end personalization platform empowers marketers in any industry to harness the power of machine learning, analytics and big data – in real time – to effortlessly provide unobtrusive and meaningful interactions with customers across channels," said Matthew Safaii, managing partner at Arrowroot Capital and new Evergage board member. "We're excited to back Evergage as it continues its strong growth trajectory and look forward to the company's cutting-edge advancements in 2016 and beyond."
This new capital comes after an exceptional 2015 where Evergage saw both its average contract value and year-over-year revenue more than double, and dramatically expanded its product set – with new, in-depth testing functionality; mobile app support; machine learning-driven recommendations; account-based marketing; and attribution reporting capabilities. These advances – when combined with Evergage's core, leading-edge personalization features – have resulted in the emergence of the industry's most comprehensive and integrated personalization platform, developed specifically for use by marketers.
To effectively support the increased demand for its real-time personalization solutions, Evergage plans to grow its headcount by more than 70% by the end of 2016. All current opportunities can be explored at http://www.evergage.com/careers/.
"Much like Salesforce.com became the standard platform for CRM, Evergage is poised to become the pre-eminent platform for customer engagement in the digital world. With unsurpassed behavioral tracking capabilities that integrate readily with virtually any existing customer data source, Evergage powers true real-time decision-making," said Karl Wirth, co-founder and CEO, Evergage. "With Evergage, travel companies, retailers, financial institutions, technology providers, media companies and more can now deliver maximally relevant digital experiences and interactions that are tailored to each and every individual across their digital properties. Helping marketers make every experience engaging is Evergage's core mission, and we're excited about this next round of funding from Arrowroot Capital and our existing investors and their support to make this mission a widespread reality."
Additional Evergage achievements and milestones from 2015 include:
About Evergage
Evergage's cloud-based platform delivers real-time personalization to more than 500 million Web visitors, improving demand generation, revenue growth and customer success for over 120 organizations, including Gardener's Supply Company, Intuit, Publishers Clearing House, Rue La La, Tivo and Travelzoo. Evergage empowers marketers to increase engagement and conversions of visitors and users through real-time, 1:1 personalization based on deep behavioral analytics and customer data. Evergage is a 2015 Best in Biz Awards, Golden Bridge Awards and The Stevie American Business Awards winner, an MITX What's Next Award winner and a two-time BostInno "50 on Fire" finalist. For more information, visit http://evergage.com or contact the company at [email protected] or 1-888-310-0589.
About Arrowroot Capital
Arrowroot Capital is a growth equity firm based in Santa Monica, California that invests in growing software-as-a-service and internet-based businesses. Arrowroot aims to provide equity capital in the range of $5M-$20M, but has access to a much larger pool of capital if needed. Arrowroot chooses to partner with companies that will benefit from the focused and unique expertise the firm offers. Learn more at www.arrowrootcapital.com.
Media Contact:
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LEWIS Global Communications
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SOURCE Evergage
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