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Instacart Raises $265 Million and Grows Marketplace and Advertising Services

In a far different corner of the galaxy, Instacart announced a $265 million financing round for its pandemic-fueled online grocery business.  The raise brings total funding to $2.7 billion and values the company at $39 billion.    This has more to do with martech than you may think: some of the money will grow Instacart marketplace and advertising services that leverage its massive customer base.

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BlueVenn Sold to Upland Software for $52 Million

March 3, 2021

CDP BlueVenn has been purchased by Upland Software, which owns a cluster of customer engagement products including Adestra, Kapost, PostUp, and Localytics.  The company expects BlueVenn to unify and share data across all its systems.  Price was $52 million, a modest 3.5x BlueVenn’s reported revenue of $15 million.  It’s the latest of several CDP acquisitions by firms planning to connect separate customer engagement products.

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Adwerx Raises $14.5 Million for Personalized B2B Ads

November 29, 2021

Adverx has just raised $14.5 million for “Customer Relationship Advertising,” which certainly sounds intriguing.  What they do is to generats personalized ads for individuals targeted by business-to-business sales teams, and then maks those ads “passively ‘follow’ each salesperson’s current clients and prospects (pulled from the CRM) as they browse the web and social media”.  Annoying and creepy and it probably works.

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