San Diego’s Cordial, which has developed a digital marketing and real-time data management platform to help brands to reach customers, said this week that it has raised $50 million in a third round of venture capital funding.
The new money brings the total amount raised by Cordial since it was founded eight years ago to $85 million. The company, based downtown, intends to use the money to add features to its technology platform for automating the delivery of personalized digital marketing messages via emails, text messages mobile apps and other channels. It also expects to expand globally and boost its headcount, which currently sits at roughly 130 employees.
Customers include Boot Barn, Eddie Bauer, Forbes, Revolve, Backcountry and Purple, among others. While the $8 billon global marketing automation market is crowded with competitors, Cordial says it platform offers customers a different approach.
“Cordial gives marketers the technology and tools to use customer and business data for hyper-personalized messaging in real-time, in one platform, ” said Jeremy Swift, chief executive and co-founder, in a statement.
NewSpring led this round, along with new investor ABS Capital. Earlier investors in the company include High Alpha and Upfront Ventures.
As part of the funding, NewSpring partner Brian Kim will join Cordial’s board of directors. ABS Capital Partner Bion Ludwig will sit as an observer on the board.
“Cordial stands out in its ability to consistently deliver value to marketers in need of a dynamic answer and all-in-one solution for personalization and automation,” said Kim in a statement. “Cordial offers what other solutions lack in breadth, scalability, and enterprise-grade support, truly partnering with marketers to make the most of their first- and zero-party data.”