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It was a good week for $100M cash infusions for two software companies. Algolia raised $110M in funding, and Pendo netted $100M

For Algolia, a search and discovery solution, the Series C funding was led by existing investor Accel, with additional investments from Salesforce Ventures and other investors. Algolia’s software is designed to help customers find products and content through search. Algolia officials dub their solution as "Search-as-a-Service" and tout their suite of APIs and analytics, personalization and A/B testing capabilities. Algolia offers searches for websites and searches for voice, geo and mobile.

Algolia officials said they will use the funds to support global expansion across the US, Europe and Asia-Pacific. The new funding will also support research and development, focusing on personalization, machine learning and voice search capabilities. Investors that participated in the Series C round also include Alven, DAG Ventures, Founders Circle, Owl Rock Capital, SaaStr Fund and World Innovation Lab. Nate Niparko, partner at Accel, has joined Algolia’s board of directors.

For Pendo, a product cloud company whose software is designed to make digital products easier to use, the $100M funding is a Series E round and values the company at $1 billion. Sapphire Ventures led the round, with participation from new investors General Atlantic and Tiger Global, along with existing investors Battery Ventures, Meritech Capital, FirstMark, Geodesic Capital and Cross Creek. Pendo has now raised $206 million. Company officials said they will use the money to accelerate global expansion and drive product development.

Pendo software offers insights on what producers users do across their journeys, surveys to see how users feel about their product experience, in-app walkthroughs and targeted messaging and feedback mechanisms to prioritize which features to build next.

In other customer experience news ....

CleverTap Raises $35M

CleverTap, which provides AI-powered customer lifecycle and user retention platform, has completed a Series C investment round of $35M. Company officials said they will use the funds to build out a new US-based engineering hub, add predictive capabilities and fuel and expand globally. CleverTap’s Series C round is led by existing investors Tiger Global Management and Sequoia India. This new funding increases CleverTap’s outside investment to $61 million since the beginning of this year. CleverTap, which also offers a Customer Data Platform (CDP), leverages machine learning to offer an engagement suite for a mobile user base.  

Invoca Nets $56M

Invoca, which offers AI-powered call tracking and conversational analytics, has announced it has raised $56 million. The company's total financing to date is $116 million. The financing was led by existing investor Upfront Ventures and new investor H.I.G. Growth Partners, with participation from other investors including Accel and Morgan Stanley Alternative Investment Partners.

Invoca plans to use the funding for product development and expand partners in digital advertising, marketing technology, CRM and affiliate marketing. Invoca offers a solution called Signal Discovery, which uses a proprietary unsupervised machine learning model to analyze buying conversations between consumers and experts in the contact center.

Accenture Interactive Acquires Sutter Mills

Accenture has agreed to acquire Sutter Mills, a French firm that specializes in developing and executing data-driven marketing strategies. Financial terms of the transaction were not disclosed. Sutter Mills provides consulting and implementation services for marketing. Sutter Mills has expertise in all major martech and adtech platforms, as well as expertise in implementing the technical infrastructures required to create customer experiences.

Genpact Acquires Rightpoint 

Genpact, a global professional services firm, announced a definitive agreement to acquire Rightpoint, a premier digital consultancy. The deal is designed to bring experience and process innovation together, according to company officials. Rightpoint’s co-founder Ross Freedman will continue as CEO of this business. This acquisition combines Genpact’s process, domain and digital expertise with Rightpoint’s ability to create experiences for customers and employees. 

In 2017, Genpact acquired TandemSeven, an experience consultancy. Rightpoint specializes in customer experience and engagement, commerce, digital products, digital workplace and digital operations.

SAP's Bill McDermott to Step Down

SAP has announced that Bill McDermott will not renew his contract as CEO. SAP Executive Board Members Jennifer Morgan and Christian Klein have been appointed co-CEOs. McDermott will remain in an advisory capacity until the end of the year.

McDermott joined SAP in 2002 and served as head of North America. He then led customer operations worldwide and joined the Executive Board in 2008. For the past decade, McDermott has served as CEO.

Morgan, who joined SAP in 2004, most recently served as president of the Cloud Business Group, overseeing Qualtrics, SAP SuccessFactors, SAP Ariba, SAP Fieldglass, SAP Customer Experience and SAP Concur. She was named an Executive Board member in 2017.

Klein, who started his career at SAP two decades ago as a student, most recently served as the company’s chief operating officer. He oversaw product development for the flagship ERP solution SAP S/4HANA. Previously, he worked as SAP SuccessFactors chief financial officer and as SAP chief controlling officer. Klein was appointed to the Executive Board in 2018.

Tealium Names Bullock CMO 

Tealium, a customer data orchestration platform provider, has announced that Heidi Bullock has joined the company as chief marketing officer. Bullock previously served as CMO at Engagio, and prior to that as group vice president of global marketing at Marketo.  

As CMO of Engagio, she was responsible for product marketing, internal sales, corporate communications and helping create the ABM Automation category, according to company officials. Bullock at Marketo helped build the demand generation function before Marketo went public. 

Bynder Names New CEO

Bynder, a digital asset management provider, has named Bert van der Zwan has joined the company as CEO. He will succeed current CEO and founder Chris Hall, who will join the Bynder Supervisory Board Nov. 1. In this role, Hall will focus on expanding Bynder’s vision. Hall founded Bynder in 2013 and has grown the organization to 325 employees.

Van der Zwan joins the company with 25 years of experience growing SaaS companies. He led WebEx as senior vice president, was CEO of Twinfield, managing director at Unit4 and is currently CEO at the fintech company Onguard. 

NewsCred Unveils Marketing Work Requests 

NewsCred, an enterprise content marketing platform provider, has announced the availability of Marketing Work Requests (MWR). This solution extends the capabilities of its CMP with a work management solution. The software is designed to help marketers triage, route and manage ad-hoc work. It provides an intelligent intake solution — integrated with the NewsCred CMP — allowing marketing teams to collaborate.

OpenText Launches Core Experience Insights

OpenText has debuted OpenText Core Experience Insights, a SaaS application that provides marketing leaders visibility over their customer's journey – including website interactions, email engagement, social media content and call center performance. Core Experience Insights is built on OpenText OT2, which tracks data from diverse sources, providing visualizations across channels throughout the customer lifecycle. It can integrate data with systems such as customer communication management, web content management and call center management. Core Experience Insights uses AI and analytics to reveal successful campaigns and content.