Evergage Secures $10M in Series C Funding
Financing Comes at a Time of Great Company Momentum, as the Real-Time Personalization Platform Provider Signs Walmart México, Lenovo, Hexaware Technologies, Newegg Flash and Others During First Half of the Year
SOMERVILLE, Mass. – August 9, 2017 – Evergage, the real-time personalization platform company, today announced it has raised $10 million in Series C funding. Led by Arrowroot Capital – which also led Evergage’s Series B round early last year – the round includes participation from previous investors G20 Ventures and PJC as well, indicating a strong vote of confidence in Evergage’s trajectory. This latest financing now brings Evergage’s total venture funding to $31.5 million.
Evergage will use the new funds to drive expansion across the company – including engineering, sales, marketing and client success departments – and internationally, as demand for its award-winning and market-leading personalization platform continues to accelerate.
This news comes at a time of great momentum and growth for Evergage. In the first half of 2017, Walmart México, Lenovo, Hexaware Technologies, Newegg Flash, LD Products, Bomgar, ButcherBox, Petplan, U.S. Gold Bureau, multiple financial institutions and many others selected Evergage’s personalization platform to unify customer data and deliver individualized experiences, in real time, to audiences across channels. These organizations join a growing list of innovative companies across industries – including retail, technology, financial services, travel, media, gaming and more – who rely on Evergage to increase visitor engagement, conversions, customer retention and revenue.
“Having closely followed Evergage’s growth, successes and strategy in recent years, we’re extremely confident in the company’s direction and thrilled to have this opportunity to support them further,” said Matthew Safaii, managing partner at Arrowroot Capital and Evergage board member. “Driven by strategic and customer imperatives, organizations today are striving to communicate with greater relevancy and impact – so demand for effective, real-time personalization is on the rise. Evergage’s machine-learning-driven approach and talented team are an unbeatable combination, poised for even greater growth. As Evergage continues to redefine how organizations gauge and respond to their customers’ interests and intent, it’s a delight to support the company’s next phase of innovation.”
Evergage empowers B2B and B2C marketers to deliver 1:1 personalization based on deep behavioral analytics, a full customer data platform and machine learning – providing individualized, maximally relevant experiences to more than 2 billion website visitors and application users. In the first half of this year alone, Evergage was named a strong performer in “The Forrester Wave™: Digital Intelligence Platforms, Q2 2017” report, was recognized as the "Best E-Commerce Solution" in the SIIA CODiE Awards and won a gold Stevie Award in the 2017 American Business Awards. The company was also a winner in EContent magazine’s “Trendsetting Products” competition and a finalist in BostInno’s Coolest Companies awards program.
Evergage also continues to hire new talent. The company will be expanding its Somerville, Massachusetts headquarters – more than doubling its office space. In addition, as the market for personalization continues to expand, Evergage will host more than 250 guests at its fourth annual Personalization Summit on Sept. 14 in Boston, with the theme of “demystifying machine learning.” Speakers include Brendan Witcher, principal analyst at Forrester Research, and customers including Academy Sports+Outdoors, GoAnimate, Harte Hanks, Invaluable, Newegg Flash, Nuxeo, Texas Instruments and more.
“We’re excited and proud to have received this $10 million Series C funding from Arrowroot Capital and existing investors – representing a strong endorsement of our team, technology and direction,” said Evergage CEO and co-founder Karl Wirth. “With the industry’s most advanced and complete personalization platform, Evergage helps companies make 1:1 customer engagement a reality. We look forward to driving more innovation and further expanding our business, so we can enable even more companies to cater to and delight their customers.”
About Arrowroot Capital
Arrowroot Capital is a growth equity firm based in Santa Monica focused on growing and mature recurring-revenue software businesses. It seeks to partner with management to accelerate growth and help guide the company to its ultimate exit. Arrowroot targets equity investments in the range of $5 million to $25 million and has the flexibility to pursue larger opportunities. Learn more at www.arrowrootcapital.com.
Only Evergage’s real-time personalization platform delivers The Power of 1, enabling digital marketers to transform the dream of 1:1 customer engagement across channels into reality. Combining in-depth behavioral analytics, a full customer data platform and advanced machine learning, Evergage provides the one solution you need to systematically understand and interact with each person that visits your site or uses your app – one at a time, “in the moment” and at scale – to deliver a maximally relevant, individualized experience. Evergage’s powerful and flexible cloud-based platform delivers real-time personalization to more than 2 billion web visitors, improving revenue growth, demand generation and customer success for leading organizations across industries, including Academy Sports+Outdoors, Endurance International Group, Intuit, Publishers Clearing House, Rue La La and Zumiez. Evergage is a CODiE Award winner and a two-time winner in the Best in Biz Awards, Golden Bridge Awards, Stevie American Business Awards and MITX Awards. For more information, visit http://evergage.com or contact the company at email@example.com or 1-888-310-0589.