Martech funding roundup: CleverTap, BUMP, Dote, and Klaviyo

Last week, these marketing technology companies received funding:

  • CleverTap raised $26 million for its customer management tools
  • Streetwear marketplace BUMP raised $7.5 million
  • Dote raised $12 million and introduced live-streamed shopping parties
  • Klaviyo raises $150 million through the Series B funding

The top funding news in marketing technology last week:

CleverTap raised $26 million for its customer management tools

What it is

California-based mobile analytics and mobile marketing company CleverTap has secured $26 million in Series B funding. This brings them to a total valuation of $150 million. The round was led by Sequoia India and had participation from Tiger Global Management and Accel.

The company raised the fresh capital after a six million dollar round in November 2017 and an eight million dollar round in August 2017, bringing its total raised to over $40 million.

Why it matters

CleverTap’s customer lifecycle management platform intends to use the new funding to accelerate its product and scale to meet customer demand. On the plus side, CleverTap will be rendering services to drive customer engagement for their newly acquired client 7-Eleven Philippines’ app CLiQQ.

Streetwear marketplace BUMP raised $7.5 million

What it is

Brooklyn-based peer-to-peer mobile streetwear marketplace BUMP has raised $7.5 million in Series A funding. The funding was led by e.ventures, and the firm’s Brendan Wales joined BUMP’s board. Kleiner Perkins, Y Combinator, and undisclosed other angel investors also participated.

Why it matters

BUMP is an online marketplace for buying and selling quality streetwear and sneakers from brands like Supreme, Yeezy, Palace, and more. With the new round, BUMP aims to expand from New York to London where it already employs contractors.

Dote raised $12 million and introduced live-streamed shopping parties

What it is

San Francisco-based mobile shopping start-up Dote has bagged $12 million in a new funding round. The funding was led by Goodwater Capital with participation from Lightspeed Venture Partners, and Harrison Metal.

Why it matters

With this financial backing, Dote has now raised a total of $23 million. The start-up has also announced to launch a new feature called Shopping Party. This feature will allow social media influencers to share live videos while browsing different products on Dote and chatting with fans.

Klaviyo raises $150 million through the Series B funding

What it is

Boston-based email marketing firm Klaviyo raised $150 million Series B funding with the entire sum coming from Summit Partners.

Why it matters

Klaviyo is an email service and marketing company founded in 2012, which has grown from 1,000 customers in 2016 to more than 12,000 in 2018. It already has brands like Bonobos, ColourPop, and Untuckit as clients and intends to double its client count for 2019 as Mailchimp leaves Shopify. Klaviyo intends to justify the enormous investment with its recently created email marketing platform where the data lives with the messaging, thus enabling quick development of highly customized messages.

See some noteworthy martech funding news we missed? Leave a comment below! If you have an upcoming funding announcement, you can submit it here.

You might also be interested in the news-focused version of this roundup: Salesforce + Google Cloud, Vimeo buys Magisto, IAB Tech Lab new products.

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