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Evergage Secures $10 Million in Funding

  • 13 August 2017
  • FoM Staff

Evergage, a personalization platform in real-time, has just announced closing $10 million in Series C funding. The round was led by Arrowroot Capital with participation from G20 Ventures and PJC. This brings total funding for Evergage to $31.5 million.

About Evergage

Evergage is a marketing technology solution that works to help companies unify customer data to be presented in a single database. This aids marketing staff in delivering experiences that will be useful to their customers, on a real-time basis and across channels. The company has noted that it personalizes the experience for more than two billion application users and website visitors.

Karl Wirth, CEO and co-founder of Evergage has stated that over the next several months the company will be releasing multiple product updates pertaining to cross-channel personalization. The company plans to add a new customer data platform functionality, as well, which will provide detailed profile information on visitors, along with advanced audience segmentation capabilities.

The company also plans to release a significant update for email, a solution that will help email marketing staff deliver more relevant and personalized content in dynamic email campaigns.

This new funding is great for Evergage, who have recently brought on many high-caliber clients including U.S. Gold Bureau, Petplan, ButcherBox, Bomgar, LD Products, Newegg Flash, Walmart Mexico, Lenovo, and Hexaware Technologies. This just adds to a growing list of companies in many industries, spanning gaming, retail, technology, media, travel, and financial services, to name a few.

Investors

Arrowroot Capital is a growth equity firm that invests in growing SaaS and Internet-based businesses. Recent funding has been provided to ICIX, MedNet Solutions, ServiceAide, Embotics, and EiQ Networks.

“Having closely followed Evergage's growth, successes and strategy in recent years, we're extremely confident in the company's direction and thrilled to have this opportunity to support them further,” said Matthew Safaii, managing partner at Arrowroot Capital and Evergage board member.

“Driven by strategic and customer imperatives, organizations today are striving to communicate with greater relevancy and impact – so demand for effective, real-time personalization is on the rise. Evergage's machine-learning-driven approach and talented team are an unbeatable combination, poised for even greater growth. As Evergage continues to redefine how organizations gauge and respond to their customers' interests and intent, it's a delight to support the company's next phase of innovation.”

G20 Ventures provides early traction capital for East Coast-based tech startups. It is backed by 20 of the Northeast’s more outstanding entrepreneurs. Other recent funding has gone to 128 Technology, Fuze, Siemplify, Emissary, and Mautic.

PJC is a Boston-based early-stage venture capital firm that focuses on investments in software and tech-enabled services. Recent recipients of funding include Talla, Lively, Inc., Uru, Neurable, and Flex Receipts.

Funding Usage

“Over the next six months, we plan to add 15-20 more people,” says Wirth. “Specifically, we will be hiring engineers and data scientists, as we continue to invest in and enhance our real-time, Big Data and machine-learning capabilities. We will also be hiring additional solution engineers, customer success managers, and directors, salespeople, sales engineers and marketing staff.”

Evergage also plans to double their office space in their Somerville, Massachusetts headquarters.

Sources:

https://www.martechadvisor.com/news/testing-optimization/evergage-secures-10m-in-series-c-funding/

https://www.mediapost.com/publications/article/305568/evergage-raises-10-million-series-c-funding.html

http://www.prnewswire.com/news-releases/evergage-secures-10m-in-series-c-funding-300501291.html

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