CDP CleverTap has raised a $105 million Series D, bringing more than doubling total funding to $182 million. You may recall that CleverTap bought personalization vendor Leanplum in late May of this year. It’s another sign that martech funding hasn’t totally dried up.
PwC India has announced it has completed the acquisition of Venerate Solutions Private Limited, a Salesforce consulting firm. Venerate, which was founded in 2016 in Bangalore, builds customised solutions on the Salesforce platform across multiple clouds. The solutions help organisations in managing customers, sales and provide value.
Cordial also bucked the funding trends last month with a $50 million raise. Today they’re back in the news with integrations with CDPs Amperity, mParticle and Segment. While Cordial itself qualifies as a CDP, its focus is primarily on cross-channel engagement. Connections between data-focused CDPs and engagement-focused CDPs are more common than many people realize.
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.