{"id":15093,"date":"2019-05-15T19:02:15","date_gmt":"2019-05-15T19:02:15","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/tealium-a-big-data-platform-for-structuring-disparate-customer-information-raises-55m-at-850m-valuation.html"},"modified":"2019-05-15T19:02:15","modified_gmt":"2019-05-15T19:02:15","slug":"tealium-a-big-data-platform-for-structuring-disparate-customer-information-raises-55m-at-850m-valuation","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/tealium-a-big-data-platform-for-structuring-disparate-customer-information-raises-55m-at-850m-valuation.html","title":{"rendered":"Tealium, a big data platform for structuring disparate customer information, raises $55M at $850M valuation"},"content":{"rendered":"

The average enterprise today uses about 90 different software packages, with between 30-40 of them touching customers directly or indirectly. The data that comes out of those systems can prove to be very useful \u2014 to help other systems and employees work more intelligently, to help companies make better business decisions \u2014 but only if it\u2019s put in order: now, a startup called Tealium<\/a>, which has built a system precisely to do just that and works with the likes of Facebook and IBM to help manage their customer data, has raised a big round of funding to continue building out the services it provides.<\/p>\n

Today, it is announcing a $55 million round of funding \u2014 a Series F led by Silver Lake Waterman, the firm\u2019s late-stage capital growth fund; with ABN AMRO, Bain Capital, Declaration Partners, Georgian Partners, Industry Ventures, Parkwood, and Presidio Ventures also participating.<\/p>\n

Jeff Lunsford, Tealium\u2019s <\/a> CEO, said that the company is not disclosing valuation, but he did say that it was \u201csubstantially\u201d higher than when the company was last priced three years ago. That valuation was $305 million in 2016<\/a>, according to PitchBook \u2014 a figure Lunsford didn\u2019t dispute when I spoke with him about it, and a source close to the company says it is \u201cmore than double\u201d this last valuation, putting this at over $600 million.<\/p>\n

He added that the company is close to profitability and is projected to make $100 million in revenues this year, and that this is being considered the company\u2019s \u201cfinal round\u201d \u2014 presumably a sign that it will either no longer need external funding and that if it does, the next step might be either getting acquired or going public.<\/p>\n

This brings the total raised by Tealium to $160 million.<\/p>\n

The company\u2019s rise over the last eight years has dovetailed with the rapid growth of big data. The movement of services to digital platforms has resulted in a sea of information. Much of that largely sits untapped, but those who are able to bring it to order can reap the rewards by gaining better insights into their organizations.<\/p>\n

Tealium had its beginnings in amassing and ordering tags<\/a> from internet traffic to help optimise marketing and so on \u2014 a business where it competes with the likes of Google and Adobe.<\/p>\n

Over time, it has expanded and capitalised to a much wider set of data sources that range well beyond web and commerce, and one use of the funding will be to continue expanding those data sources, and also how they are used, with an emphasis on using more AI, Lunsford said.<\/p>\n

\u201cThere are new areas that touch customers like smart home and smart office hardware, and each requires a step up in integration for a company like us,\u201d he said. \u201cThen once you have it all centralised you could feed machine learning algorithms to have tighter predictions.\u201d<\/p>\n

That vast potential is one reason for the investor interest.<\/p>\n

\u201cTealium enables enterprises to solve the customer data fragmentation problem by integrating and enriching data across sources,in real-time to create audiences while providing data governance and fidelity\u201d said Shawn O\u2019Neill, Managing Director, of Silver Lake Waterman, in a statement. \u201cJeff and his team have built a great platform and we are excited to support the company\u2019s continued growth and investment in innovation.\u201d<\/p>\n

The rapid growth of digital services has already seen the company getting a big boost in terms of the data that is passing through its cloud-based platform: it has had a 300 percent year-over-year increase in visitor profiles created, with current tech customers including the likes of Facebook, IBM, Visa and others from across a variety of sectors, such as healthcare, finance and more.<\/p>\n

\u201cYou\u2019d be surprised how many big tech companies use Tealium,\u201d Lunsford said. \u201cEven they have a limited amount of bandwidth when it comes to developing their internal platforms.\u201d<\/p>\n

People like to say that \u201cdata is the new oil\u201d, but these days that expression has taken on perhaps an unintended meaning: just like the overconsumption of oil and fossil fuels in general is viewed as detrimental to the long-term health of our planet, the overconsumption of data has also become a very problematic spectre in our very pervasive world of tech.<\/p>\n

Governments \u2014 the European Union being one notable example \u2014 are taking up the challenge of that latter issue with new regulations, specifically GDPR. Interestingly, Lunsford says this has been a good thing rather than a bad thing for his company, as it gives a much clearer directive to companies about what they can use, and how it can be used.<\/p>\n

\u201cThey want to follow the law,\u201d he said of their clients, \u201cand we give them the data freedom and control\u00a0to do that.\u201d It\u2019s not the only company tackling the business opportunity of being a big-data repository at a time when data misuse is being scrutinised more than ever: InCountry, which launched weeks ago, is also banking on this gap in the market.<\/span><\/p>\n

I\u2019d argue that this could potentially be one more reason why Tealium is keen on expanding to areas like IoT and other sources of customer information: just like the sea, the pool of data that\u2019s there for the tapping is nearly limitless.<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/qM27s3HreUM\/<\/p>","protected":false},"excerpt":{"rendered":"

The average enterprise today uses about 90 different software packages, with between 30-40 of them touching customers directly or indirectly. The data that comes out of those systems can prove <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-15093","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t