Following a year of record growth, Movable Ink, a major provider of content personalization, announced that it raised $55 million in Series D investment.
Silver Lake Waterman led the round, which included previous investors such as Contour Venture Partners, Intel Capital and others. With this new round of funding, Movable Ink has received a total of $97 million since the company's founding in 2010.
“My co-founder and I founded Movable Ink in 2010 with the mission of helping companies activate data into personalized content in any customer touchpoint," Vivek Sharma, co-founder and CEO of Movable Ink, told CMSWire.
"Today, we work with hundreds of the most innovative Fortune 500 brands and enterprises across the globe, powering award-winning campaigns to help support their business objectives and drive longer-term customer value."
Funding Will Speed Product Development
Movable Ink plans to speed up its product roadmap with this current round of funding, responding to marketers' needs for people-centric strategies. AI-powered content personalisation will be rolled out across all channels as part the brand's product strategy. They also plan to exceed 700 employees in total by end of year as well as grow into new regions across the globe.
At the end of April, Movable Ink completed a $55 million equity fundraising round. To date, the company has raised $97 million in financing.
Brands have invested plenty in data management and message delivery platforms. Unfortunately, today's marketers must rely on physical labor and limited resources, resulting in long, inflexible manufacturing processes. Movable Ink overcomes this issue by converting first-party data into tailored content at the time of interaction.
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Movable Ink Enables All Marketers
“We work with hundreds of the most innovative Fortune 500 brands and enterprises, including: the largest 6 US airlines, 2 of the top 4 largest US commercial banks, 3 of the top 5 US retailers, the top QSR brands and 2 of the largest global media companies. This includes big-name brands like JetBlue, Dunkin, Comcast, Hilton, Ube, and Bloomingdales to name a few,” said Sharma.
Despite having been in business for more than a decade, Movable Ink has the vigor and agility of a young company. It transforms data into tailored content at every point of contact with the client. Consumers expect unique, relevant and compelling experiences from brands across all industries.
Movable Ink helps marketers in a variety of industries such as retail, entertainment and media, financial services and more to create experiences that are personalized for individual consumers across email, mobile and the web.
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What’s Next for Movable Ink?
Sharma told CMSWire that every successful business wants to put their customer at the center of everything they do. But, as consumer behaviors continue to shift, brands face challenges in evolving their programs to address individual customer needs. Omnichannel personalization is no longer a “nice to have.” It’s what consumers demand and is a matter of survival for brands.
Changes in privacy regulations and altering consumer preferences during and after the epidemic add to these problems. An increasing number of companies are looking at artificial intelligence (AI) to better target consumers. By acquiring Coherent Path, Movable Ink gives marketing departments throughout the world access to game-changing artificial intelligence technologies.
Coherent Path use machine learning to provide the best possible email campaigns, and focuses on a long-term, reciprocal approach that's more lucrative for the brand and more engaging for the customer than most other AI solutions. Coherent Path focuses on the lifetime value of the client rather than the next optimal move. With this approach, personalization takes on a deeper significance for the company and its customers.