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Redefining the Customer Data Platform
While the Customer Data Platform (CDP) has traditionally been used to gather first-party customer data, Simon Data envisions a broader application. Founded in 2015, Simon Data has always aimed to be more than just a data storage solution. The company offers built-in applications to utilize the data and also provides the flexibility for customers to develop custom applications tailored to their needs.
The Shift Towards Data Application
The modern business landscape is evolving, with companies now focusing on building applications, be it through machine learning models or other software solutions. Investors recognize this shift, leading to Simon Data’s recent $54 million Series D funding. CEO Jason Davis emphasizes that Simon Data’s core mission has always been about what can be achieved with the data, rather than just collecting it.
Unlocking the Potential of First-Party Data
In recent years, the emphasis has shifted from mere data collection to actionable insights derived from that data. Simon Data’s platform is designed to give marketers and business stakeholders direct access to valuable first-party data, enabling them to make informed decisions and drive business growth.
Out-of-the-Box Solutions
Simon Data offers a range of pre-built applications, including audience management, email marketing, and customer identification. With clients like JetBlue, SeatGeek, and Venmo, Simon Data is making a significant impact in the industry.
Commitment to R&D and Expansion
Having raised over $100 million since its inception, Simon Data remains focused on research and development. The company plans to use the recent funding to delve deeper into R&D, refine its AI models, and expand its reach into new verticals.
Diversity and Inclusion at the Forefront
Simon Data places a strong emphasis on diversity and inclusion, believing that diverse perspectives are crucial for solving complex problems. The company has established internal groups dedicated to various demographics, each with its own budget for awareness, inclusion, and educational initiatives.
A Remote-First Culture
While Simon Data has a physical office in New York City, the company embraces a remote-first work culture, aligning with the trends of many modern startups.
A Significant Investment for the Future
The recent $54 million Series D investment, led by Macquarie Capital and supported by existing investors such as Polaris, .406 Ventures, and F-Prime, marks a pivotal moment for Simon Data. With over $115 million raised to date, the company is well-positioned to lead the charge in optimizing the use of customer data for businesses worldwide.
In conclusion, Simon Data’s latest funding round underscores its commitment to transforming the way businesses utilize customer data. By offering innovative solutions and prioritizing diversity and inclusion, Simon Data is set to make a lasting impact in the data-driven business landscape.
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