We also have a $60 million Series D funding for cross-channel messaging platform Iterable, bringing their total to $140 million. Iterable assembles customer profiles from multiple sources but it doesn’t share them externally, so it’s not a CDP.
Acquia announced yesterday that it will purchase CDP vendor AgilOne. The deal is part of Acquia’s strategy to expand beyond its base in Web content management to become a full-scale marketing cloud. Acquia bought marketing automation platform Mautic earlier this year and was itself purchased by Vista Equity Partners. See this post for CDP Institute founder David Raab’s comments on the deal.
You may have read some recent articles claiming that personalization is a failure that marketers will or should abandon. Unlikely. If the topic comes up at your company, feel free to cite actual data from Monetate, which found that personalized pages in the U.S. had 5.6 times higher conversion rates than non-personalized pages during the recent Black Friday to Cyber Monday period.
Martech keeps taking larger bites out of marketing budgets: 17.3% last year, 19.9% this year, 23.5% next year, and 30.9% five years from now, according to the latest CMO Survey. This despite barely more than half (56.4%) of current tools being used and nearly half (48.8%) of the survey respondents reporting worse-than-expected results. Oddly enough, marketers rate selecting marketing technologies as the thing they do best.