Salesforce Ventures Leads $23.8 Million Investment in Customer Data and Engagement Platform SessionM
SessionM, the Boston-based customer data and engagement platform, announced a $23.8 million Series E investment led by Salesforce Ventures. The investment round was led by Salesforce Ventures along with other existing premier investors comprising Causeway Media Partners, CRV, General Atlantic, Highland Capital and Kleiner Perkins Caufield & Byers. The company has now raised over a whopping $97 million. According to sources, the company will use the raised funds to accelerate its sales and marketing, product innovation, talent acquisition and global expansion. With clients around the globe, the SessionM platform currently manages more than 150 million customer profiles and processes nearly 4 billion events daily.
SessionM CEO and co-founder Lars Albright said, “SessionM helps companies consolidate first and third-party data sources and activate them around the customer journey. While it has elements of a customer data platform, its ability to tie data management to execution is a differentiator.” He also added, “We’re able to marry real-time data management with customer engagement strategies.”
SessionM is planning to work with Salesforce Commerce Cloud to offer loyalty rewards in order to manage communications around the customer journey with Marketing Cloud. It can also generate individual customer information for Service Cloud. This was Salesforce Ventures’ second investment in SessionM. They were also involved in a $35 million Series D round investment in 2016. SessionM is already integrated with Salesforce’s Commerce, Marketing, Service, and Community clouds and can now use this investment to grow internationally and work with Salesforce’s Integration Cloud.
Salesforce’s this investment came after their $6.5 billion Mulesoft & $800 million Datorama acquisitions. All these shows Salesforce’s focus towards data integration. For Salesforce, SessionM fits nicely into its vision to help customers integrate data sources across their enterprises.