Private equity funding has become more common as venture capital becomes harder to find. So it’s not surprising that customer engagement vendor MessageGears just took $62 million in “growth financing” from Long Ridge Equity Partners and friends. MessageGears positions itself as an anti-CDP in the sense that it reads data directly from an external warehouse.
Inflated prices of goods are causing Southeast Asian consumers to reduce their expenditures this year. At the same time, online shopping has not been spared by inflation and digital spend in the region has also been impacted this year.
Zappi uses a massive database of product and advertising historical data to make AI-based predictions for how proposed programs will perform. They just took a $170 million a strategic investment led by Sumeru Equity Partners. Their previous funding totaled $22 million.
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.