SHIFT raises additional USD6m led by DN Capital
SHIFT has raised USD6m in Series B funding led by venture capital firm DN Capital.
The new funding will be used for international expansion of SHIFT’s Open Marketing Cloud.
SHIFT’s Open Marketing Cloud provides marketers access to an ecosystem of best-in-class marketing apps, allowing users to access their choice of apps along with all of the data they need on one integrated platform to reach their customers across Facebook, Twitter and LinkedIn. This round brings total financing to USD14m to date.
Through the Open Marketing Cloud, users are enabled to collaborate across organisations in order to execute marketing campaigns efficiently and effectively. With a single platform to manage content, unlock actionable data, build and optimise campaigns, marketers now have the tools they need to reach the right customer, at the right time and through the right channel.
“2013 has been a huge year for us, we launched our platform and have grown our sales by over 300 per cent, driven by global advertisers adopting the SHIFT Open Marketing Cloud,” says James Borow, co-founder and CEO of SHIFT. “We are thrilled to have a partner in DN Capital who can help us hit the ground running in international markets. Their experience in helping companies scale in Europe will be integral in helping SHIFT continue to deliver brands and agencies the technology needed to break down data silos and create more efficient ways to execute marketing across organisations.”
“SHIFT and its Open Marketing Cloud have created a transformative experience for the marketing and advertising industry,” says Nenad Marovac, managing partner of DN Capital. “This experience is evidenced by its lucrative list of customers, which include advertisers and brands such as AMEX, SONY, AT&T, Red Bull, Marriott, Unilever and L'Oreal. We look forward to bolstering the Open Marketing Cloud and growing SHIFT’s presence in Europe and beyond.”
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