Quantifind has closed a USD30 million funding round led by global venture capital fund Cathay Innovation. Previous investors Redpoint Ventures, US Venture Partners, Comcast Ventures, Iris Capital and AME Cloud Ventures also joined the round.
This investment will support the company’s growth as it helps marketers understand exactly how their efforts are driving revenue for their respective businesses.
This round of funding, the company’s fourth, will fuel Quantifind’s market expansion efforts, accelerate product development, and allow the company to double staff in its Menlo Park headquarters. Quantifind will focus on growing the sales and customer success teams, as well as the data science and engineering teams to service the company’s mission to empower people to make better decisions that combine human intuition with the voice of intelligent data.
"It's been a pleasure to watch the company grow over the last few years," says Denis Barrier, co-founder of Cathay Innovation. "Market demand for the kind of data-driven, growth-driving insights that Quantifind offers is only getting stronger. We're excited to welcome Quantifind into our Cathay Innovation global ecosystem and proud to contribute to the company's emergence as the leader of its category."
"We are thrilled to have Cathay lead this round of financing, and their support will be particularly helpful as we expand into new geographies and verticals," says David Karnstedt, CEO of Quantifind. "We're also excited by the continued support of our existing investors and board members. Their networks, guidance and expertise continue to be invaluable in helping us scale the company and execute our vision."
In the last year, Quantifind has more than tripled its customer base to include companies across nine new vertical markets, including financial services, automotive, health care and retail. The company has seen a 165 percent increase in bookings year-over-year.
“As more companies turn to data to modernise and improve their businesses, companies like Quantifind will play a critical role in delivering actionable insights and solutions for a multitude of industries,” says John Walecka, co-founder and partner at Redpoint Ventures. “We look forward to helping grow the business through Redpoint’s continued investment in the company."