This week in Marketing Automation…
The creators of the “Sales Enablement” vertical just closed another round of funding to further their development of ecosystem API, the mobile application, and AI-powered sales coaching. They’re also opening an office in London to get closer to their EU customers.
Outreach raised $115 million, officially becoming a unicorn!
Outreach is a sales enablement platform which uses AI to help users automate repetitive sales tasks efficiently. They have successfully helped clients engage and prioritize key customer touch points to engage more prospects and close more deals.
Backed by Microsoft, Outreach just raised $115 million in their series E funding round. This establishes the company as the very first unicorn in the sales engagement space. After many successful rounds of investment, they are now valued at $1.1 billion.
Venturebeat.com recently reported that the focus of this funding is to double their machine learning team (AI), expand its international footprint, and further grow its partner ecosystem said their CEO, Manny Medina.
CEO Manny Medina said:
“The cash infusion will allow it to expand its international footprint, and further grow its partner ecosystem, adding that he expects Outreach to reach an annualized sales rate of $100 million within the next year.”
He further added that:
“…the company has over 3,300 customer accounts with 50,000 users, including recognizable names like Adobe, Cloudera, Eventbrite, Showpad, Glassdoor, Zenefits, Okta, Zendesk, and DocuSign.”
IBM offloading its marketing and commerce tech portfolio to focus on its core
IBM announced the news that it will be offloading its full suite of marketing automation and analytics tools. This includes the Watson marketing portfolio and the Silverpop marketing automation platform, which IBM acquired in 2014.
The full list comprises:
- Campaign Automation
- Marketing Assistance
- Media Optimizer
- Customer Experience Analytics
- Content Hub
- Real-time Personalization
- Personalized Search
- The Data Platform
- Universal Behaviour Exchange
- Intelligent Bidder
- Price and Promotion Optimization
- Payment Gateway.
This move was clearly done so IBM can better focus on its core which is Supply chain innovations. Their main processes will include blockchain, artificial intelligence (AI) and the Internet of Things.
Part of this deal will result with some key IBM executives joining the new business with the ‘VP of Offering Management and Strategy for IBM Marketing Platform – Watson Commerce and Watson Marketing, Mark Simpson who becomes the CEO of this new entity. However, the financials of this acquisition deal are not disclosed.
Segment raises $175M for its Customer Data Platform:
The customer data management space is heating up with the latest series D funding round which was led by existing Segment investors, Accel and GV and some new companies, bringing total funding of $284 million and counting.
Mentioned at CMO, this funding is focused on their aggressive global expansion with new offices in the US, Asia-Pacific, and EMEA, and adding more staff up to 350-workforce. It will also go down to developing vendor’s customer data infrastructure platform, as well as go-to-market activities and building out a partner network.
Segment: It’s a Customer Data Management and Analytics solutions platform. Its a platform that unifies data together, captured from various apps and business interactions, then automatically routes data to business application across an organization’s customer data stack.