Martech funding roundup: Vlocity, 1stdibs, Amify, PhotoShelter, Abstract

Last week, these marketing technology companies got funding:

  • Software company Vlocity received $60 million Series C funding on $1 billion valuation
  • Online marketplace 1stdibs raised $76 million in new Series D funding
  • Amify secured $5.8 million Series A funding
  • Digital asset management platform PhotoShelter received $8 million from Level Structured Capital
  • Design workflow platform Abstract raised $30 million Series C funding

Top funding stories in marketing technology last week:

Software company Vlocity received $60 million Series C funding on $1 billion valuation

What it is

Software company Vlocity has landed $60 million in Series C funding on a $1 billion valuation, led by investors Sutter Hill Ventures and Salesforce Ventures. Other participants include Bessemer Venture Partners, Accenture, and New York Life.

The company has now raised a total of $163 million.

Why it matters

Vlocity is known for having built CRM solutions on Salesforce for five specific industries: communications and media, insurance and financial services, health, energy and utilities, and government and nonprofits. Company co-founder and CEO David Schmaier says the company will take things one step further and focus this new round of funding on investing in product development.

Online marketplace 1stdibs raised $76 million in new Series D funding

What it is

New York-based online antiques marketplace 1stdibs has landed $76 million in new Series D funding, led by T. Rowe Price Associates with support from Index Ventures, Benchmark, and Spark Capital. The company now has a valuation of over $500 million.

Why it matters

The online antiques market has seen a rise in competition recently. To stay ahead, CEO David Rosenblatt says 1stdibs plans to use some of the new funding to invest in more brick-and-mortar showrooms.

Amify secured $5.8 million Series A funding

What it is

Amify, an Amazon advertising management software platform, has secured $5.8 million in Series A funding led by Mercury fund, with participation from Dundee Venture Capital, CincyTech, SaaS Venture Capital, and Nigel Morris, co-founder of Capital One.

The new funding will be used to hire more senior-level staff, broaden marketing and branding initiatives, and continue to develop its insights platform. The company is also working on opening a second office in Cincinnati, close to the Amazon Prime Air Hub at the Cincinnati/Northern Kentucky International Airport.

Why it matters

Amazon continues to grow and dominate the e-commerce market. This new funding points to even more growth, both for Amazon and for technology companies that work with it.

Digital asset management platform PhotoShelter received $8 million from Level Structured Capital

What it is

A leader in digital asset management for visual storytellers, PhotoShelter has received $8 million from Level Structured Capital, an affiliate of Level Equity. The company plans to use the funds to expand their staff, open a new company HQ, and drive product innovation across both of its cloud-based visual media platforms, PhotoShelter and Libris.

Why it matters

PhotoShelter receives constant praise for its growth and positive company culture. This new funding points to continued growth in the power of digital visual content and support of companies that strive to have happy and productive employees.

Design workflow platform Abstract raised $30 million Series C funding

What it is

Git-enabled design workflow platform, Abstract, has raised $30 million in Series C funding from leader Lightspeed Venture Partners, with participation from Scale Venture Partners, Amplify Partners, and Cowboy Ventures. Lightspeed partner Nakul Mandan will also be joining the company board as part of the financing.

The company has now raised a total of $54.2 billion to date.

Why it matters

CEO and co-founder Josh Brewer says that the new investment will be used to build a more flexible platform, “where designers, developers, and stakeholders from across the company can participate in the design process.”

PS — You might also be interested in the news-focused version of this roundup: Martech news roundup: Facebook’s Ad Library, Google’s AMP for Email, relaunch of BitTorrent Live, and more

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