IPOs may be hard to find but venture funding still happens fairly often. Latest deal is a first-time external raise of $20 million for Beamer, which helps companies manage product engagement by sending announcements to customers and collecting their feedback. As product-led growth becomes more important, this sort of tech will creep closer to the center of the martech stack.
We haven’t seen many Initial Public Offerings by martech companies recently, but customer engagement platform Klaviyo has just announced theirs. Price has not been set. Klaviyo also recently added a CDP module. Connect those dots as you will.
Times are even tougher for adtech than martech. The bankruptcy of one-time leader MediaMath was especially jarring, not to mention painful for advertisers left holding $125 million in unpaid bills. MediaMath assets were just purchased for a fire-sale price of $22 million by video ad buying platform Infillion.
Adobe has announced a new solution within its GenStudio suite, GenStudio for Performance Marketing. This self-service application is aimed at accelerating the creation of display and social ads, emails and banners using approved, on-brand content. The solution will leverage Adobe Firefly as well as third-party LLMs.