ActionIQ has pushed its series C round to $100m following an extension from existing shareholders.
ActionIQ, a US-based enterprise customer data platform operator backed by Stanford University, increased its series C round yesterday following an extension provided by unnamed existing shareholders.
March Capital Partners led an initial $32m tranche in January 2020, when Sequoia Capital, Andreessen Horowitz and FirstMark Capital also took part. The first close reportedly also featured Cisco Ventures, the corporate venturing arm of Cisco.
TechCrunch identified March Capital as a participant in the series C extension, though ActionIQ did not identify any backers in its press release. The extension boosted ActionIQ’s valuation by more than 250%, but the company did not specify dollar amounts.
ActionIQ has developed a platform that analyses disparate customer data in real time to offer personalised services. Its clients range from publisher the New York Times and camera manufacturer GoPro to department store chain JCPenney.
The additional capital has been allocated to research and development to grow platform capabilities and to building an ecosystem around ActionIQ’s offering.
Andreessen Horowitz led a $30m series B round in October 2017, when Sequoia Capital, Firstmark Capital and image database operator Shutterstock also invested.
Stanford University’s Engineering Venture Fund participated in a $13m series A round six months earlier together with Sequoia, FirstMark, Bowery Capital and Amplify Partners. ActionIQ had already secured an undisclosed amount of seed financing in a 2014 round led by Sequoia.
