Mountain View-based enterprise customer data platform (CDP) Treasure Data has just received a $234 million funding in what the company calls the largest-ever single round for a CDP.
With CDPs playing a critical role in the success of enterprise growth, marketing innovation, product development, and more, Treasure Data says its platform allows marketing, service, and sales to ensure seamless customer experience across any channel.
The company announced its new backing in a press release earlier today, stating that this capital will facilitate the execution of CDP innovation and accelerate global growth. This round of investment was led by Japan-based SoftBank with participation from Carbide Ventures, an investment firm founded by Treasure Data’s founders and longtime executives.
VentureBeat chatted via email with Kazuki Ohta, cofounder and CEO of Treasure Data, to discuss what this funding means for Treasure Data and how it will impact enterprise decision-making in the industry.
Driving experiences through data
A recent survey by McKinsey found that the percentage of digital customer interactions has tripled over the last two years, largely fueled by the pandemic. As digital customer interactions skyrocket while security, privacy, and data governance requirements increasingly limit the usage of data, Treasure Data says this investment will help them execute on their vision of bringing the CDP enterprise-wide in marketing and beyond.
“We are in the age of the digital customer and now more than ever, it is critical for businesses to leverage the power of data to drive exceptional experiences. This investment by SoftBank Corp. will help us execute on our vision of bringing the CDP enterprise-wide, whether it is in marketing, service, sales or beyond. By enhancing our ability to unlock customer-centricity for brands around the world, we continue our long-standing commitment to enable success for Treasure Data’s clients,” said Ohta.
The company has a direct competitor in Tealium, and other competitors offering CDPs include Leadspace, mParticle, and Segment. However, Treasure Data claims its technology is differentiated by its ability to provide a scalable and secure CDP that enables companies to deliver data-driven customer experience in a secure and privacy-compliant way.
Staying ahead of the curve
Agreeing with Ohta was Eric Gan, executive vice president with SoftBank. He added, “Companies are embracing digital transformation with an urgency, and CDPs are a critical tool for businesses that want to stay ahead of the curve. SoftBank Corp. and Treasure Data are engaged in collaborations around the world, and we are excited to lead this investment to further drive synergies across our group companies in the digital marketing sphere.”
Founded in 2011, Treasure Data aims to “connect all data into one smart customer data platform, uniting teams and systems to power purposeful engagements that drive value and protect privacy for every customer, every time.”
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