Blueshift Raises $ 30 Million Series C Funding Round
The Blueshift team has very exciting news to share: we’ve raised a $30 million Series C financing round, led by Fort Ross Ventures, and Avatar Growth Capital, bringing the total amount raised to $65 million. Read the full press release here.
This is an exciting milestone for us, but the team at Blueshift is even more excited about the journey ahead. To understand the opportunity in front of us, and our customers, let me start by reflecting on the big shift underway in the world of marketing.
Today Marketing is Intertwined with CX
In the past, marketing has been disconnected from the Customer Experience (CX):
CX would be delivered on the brand’s “experience channels”, e.g. the store, the bank branch, the digital product, the contact center, or a dialog with a relationship manager. CX would always be designed with the customer at the center, and each of the functions engaged in delivering the experience operated on a comprehensive view of the customer.
Traditional marketing would be delivered on “marketing channels”, e.g. billboards, emails, banner ads, or direct mail. Unlike CX, marketing programs would traditionally be designed around the channel and not around the customer.
However, in the last few years, we have seen a dramatic shift in how marketers interact with consumers. In our “always-on” world, marketers are increasingly being asked to deliver experiential messages that were previously out of the scope of marketing channels and could only be delivered on the brand’s properties. In this new world, marketing is less about the channel, and more about understanding the customer, delivering “next-best” offers and content to each customer triggered at the perfect time in the customer’s lifecycle. In essence, today’s marketers are tasked with taking the experience to the customer.
Understanding the customer starts with unified CX Data
To build a true understanding of customers, marketers need to go beyond traditional marketing data (like opens & clicks) and start tapping into “CX data”, of how customers have interacted with the brand’s experience channels. This might include real-time “events” from digital product interactions, transactional data from subscription & bookings systems, CRM data that captures interactions with sales agents or relationship managers, e-commerce & POS data, contact center interactions, and much more.
Legacy martech stacks, often built as a collection of channel-centric applications, can leverage marketing response data on different channels but are unable to tap into a deeper customer understanding through the lens of CX data. Essentially, these stacks are hollow; they lack a core customer foundation that connects and powers its channels and platforms around customers’ needs and intentions.
Breaking down experience silos: the CDP as the Smart Hub
The first generation of CDPs focused on managing the data infrastructure, without changing the paradigm of how the customer experience was delivered. However, today’s marketers move beyond simply managing data and shift towards making their data work for them, at scale to deliver unified customer experiences that drive engagement, growth, and revenue. In short, they need a system that can truly help them make the shift to customer-centric decisioning seamlessly.
This necessitates a central “smart hub”, making decisions at a customer level, and relaying those decisions to every marketing channel and application. A smart hub serves to unite disconnected stacks around a shared, real-time customer understanding and provides a single point of control from which to base customer engagement decisions and guide execution across channels.
At Blueshift, we are excited about building the first true SmartHub CDP that provides:
Data unification that integrates any data source and combines historic, real-time, and predicted customer behaviors from across all channels into unified profiles of every known and anonymous customer.
Smart decisioning that uses AI and predictive intelligence to extract insights from customer data and uses it to instantly trigger the next best action across channels.
Distribution hub that has a marketer-friendly user interface and seamless integrations with all of your applications and channels.
The Journey Ahead
At Blueshift, we have been on a mission to bringing the power of unified data and AI-based decisioning directly to marketers and making marketing more human. The events of the last year have further accelerated the trend of digital transformation and the connected customer experience. It has become even more important for every consumer brand to leverage omnichannel CX data to deliver the “next best experience” on marketing channels.
With this new funding round, I am excited to welcome both Fort Ross Ventures and Avatar Growth Capital to the Blueshift family. Not only do they have tremendous experience with growth-stage companies, but they are also strong believers in our mission.
A big thank you to all our customers, employees, partners, and investors. We couldn’t have made it so far without your support at every step. We are excited about the future and look forward to working with all of you in the next phase of our journey.