San Diego-based Tealium, a company that provides customer data orchestration tools, is now valued at $1.2 billion after receiving a $96 million Series G investment round from investors.
Tealium’s chief executive Jeff Lunsford said it plans to use the funds to bolster adoption of its products as it doubles down on customer success initiatives and expands its global footprint.
“We have seen an acceleration in global enterprises selecting Tealium’s CDP because we can help them realize business value quickly, which is critical in these dynamic times,” said Lunsford. “This new capital will be invested in expanding our customer success, ecosystem development and product development teams around the world.”
Founded in 2008, by former WebSideStory. The software company builds customer data platforms, which allow companies to manage marketing data from a host of different sources.
In particular, Tealium connects customer data — spanning web, mobile, offline, and IoT devices — so brands can connect with their customers. Its integration ecosystem supports over 1,300 client-side and server-side vendors and technologies, allowing brands to create a unified, real-time customer data infrastructure.
Notable clients include, Cathay Pacific, Wells Fargo, Bank of America, HSBC, News Corp, Dow Jones, The Economist, Macy’s, Sony, Intel, IBM and Cisco.
Tealium’s revenue was north of $100 million last year, and the company reported “record-breaking” revenue in Q4 2020. It has over 1,000 customers and ranked 293 on Deloitte’s Technology Fast 50 in 2019, with 278.8% revenue growth from 2014 to 2017.
“We feel like we’re just getting started,” said Lunsford. “The 850 customers we have today, can easily be one thousand. The problem of data being in more places, updated governance, and emerging regulations — that problems is only getting worse, not better.”
“People need Tealium more today, than the day we started it. We built a lot of technology to help our customers, and this financing is really about scaling that business. Scaling the people side, the platform side, the partner side — all of it,” he added.
Raised Over $250M
Existing investors Georgian and Silver Lake Waterman led the Series G financing for the Torrey Pines-based company. The funding brings the company’s total raised to date to over $250 million following a $55 million series F in May 2019.
“Tealium’s customer data platform helps businesses gain a competitive advantage by providing the insights to deliver a highly personalized customer journey. We are excited to continue our partnership with Tealium as they lead the growing demand for this essential requirement of digitization,” said Justin LaFayette, lead investor at Georgian.
Last year, the company debuted its Private Cloud product as part of its technology infrastructure. It also added Predict ML, a built-in machine learning technology that allows users to view whether they have sufficient existing data to provide insights into customer behavior.
IPO in the Future
In 2021, Tealium plans to increase its headcount, which stands at around 500 employees, by 50% across its customer-facing, ecosystem, and product development teams.
Lunsford has been involved in IPOs at WebSideStory in 2004 and Limelight Networks in 2007. Looking ahead, Tealium may explore an IPO, potentially within the next year.