RudderStack Raises $5 Million In Seed Funding

0
1395
Image for representation (Pic credit- itworks-inc)
  • The company also announced the acquisition of data integration company Blendo
  • It said that the funding will be used to accelerate product development and rollout to larger enterprises

RudderStack, which provides the open source alternative to traditional Customer Data Platforms has announced that it has raised a $5 million seed round led by S28 Capital with additional participation from Salil Deshpande (Uncorrelated Ventures) and Florian Leibert (468 Capital). It said that the funding will be used to accelerate product development and rollout to larger enterprises.

The company also announced the acquisition of data integration company Blendo. It said that this will bring additional IP and expertise to the RudderStack team.

Soumyadeb Mitra, CEO of RudderStack said, “We are very grateful for the support from S28 Capital, Uncorrelated Ventures, 468 Capital and the other angels, which will help us drive product development and roll out our platform much faster to large enterprises who need a secure way to collect and merge their customer data for more informed decision making. With the addition of Blendo leadership, we have built an even stronger team and deeper technology infrastructure. The next phase for RudderStack is fast growth, hiring and expansion of our solution to large data-driven enterprises who are looking for a security-focused platform for actionable insights and real value from their customer data.”

Built integrations with all of the major customer data destinations

At most large enterprises, customer interaction happens at multiple places, from mobile-web to chat to backend systems. RudderStack said that it provides the technical infrastructure required to bring all this customer event data together in a unified and consistent fashion. This makes enterprises create value from it.

RudderStack said that it has built integrations with all of the major customer data destinations like Snowflake, AWS, and Zendesk and it is especially well-suited for privacy-conscious enterprises.

RudderStack was incubated at S28 Capital. Shvet Jain, partner at S28 Capital said, “Understanding your customers is essential. The larger the organisation, the harder it becomes. RudderStack is finally here to fix this.”

After acquiring Blendo, RudderStack was able to incorporate Blendo’s cloud-based ELT solution into the RudderStack Customer Data Platform and combined the teams. Blendo founder Kostas Pardalis joined RudderStack as head of growth.

Pardalis added, “With Blendo, I had the opportunity to be part of a great team that executed on the vision of turning any company into a data-driven organization. We’ve combined the talented Blendo and RudderStack teams together with the technology that both companies have created, at a time when the customer data market is ripe for the next wave of innovation. I’m excited to help drive RudderStack forward

LEAVE A REPLY

Please enter your comment!
Please enter your name here