Intent data provider Cyance has announced a new round of additional funding from investors including Blackfinch Ventures and Nexus Investments, in the amount of £860,000.
The company plans on leveraging the funding to continue to grow its team internally, which has doubled in size over the past year. It will also be used to accelerate the company’s enterprise customer acquisition strategy. It also aims to build its increasing value from an ABX perspective for global organisations with a European positioning.
Jon Clarke, Founder, chief product officer of Cyance, said: “What I mean by that is building out our geographic coverage of behaviour that we can pick up with the 55,000 publishing websites that whilst then spans across the US and Europe and Asia, there’s a real strength in Europe and that means greater coverage across a wider set of websites – not just in English. If organisations are thinking seriously about redefining their customer strategy with insights and giving themselves a competitive edge, then we are placed to deliver that both in Europe but also in six different languages.”
The news comes after a period of significant growth for the startup with revenue increasing by 18% and customer value increasing by 30% in the past year.
Jon continued: “This past year has been unprecedented but we’ve seen steady growth with new customers and we haven’t lost many customers either which was a real concern to our market and the wider world. We’ve always had a flexible working environment because our development teams are based in other countries.
But what we realised is that our customers have had to adapt in a very similar way. So they need to innovate in their customer strategies but from an acquisition, retention and expansion point of view. Therefore, they need to transform their way they go to the market using technology like us and has allowed us to see our value proposition.”
