SAN DIEGO, CA (July 26, 2022) — Cordial, the cross-channel marketing and data management platform for brands to communicate in personal, intelligent ways, raised $50 million in a Series C venture round to drive personalized experiences for consumers. NewSpring led the round with new investor ABS Capital. This round brings the total investment in Cordial to $85 million including funding from previous investors High Alpha and Upfront Ventures.
Cordial will use the funds to bolster its product offerings, expand its global presence, and redefine marketers’ expectations of cross-channel engagement. Additionally, this new capital enables Cordial to:
- Accelerate innovation, launching new platform enhancements that let enterprise marketers create new revenue streams and maximize the value and impact of each customer message.
- Transform how marketers activate data, setting new precedents for the amount and type of first-party data possible in 1:1 customer engagement.
- Continue propelling marketers toward data-first customer engagement, reshaping the category by balancing best-in-class technology with a partnership-focused approach.
“The fundamentals of customer engagement have radically shifted. If marketers are not connecting all of their data to marketing execution they are at a significant disadvantage. Cordial gives marketers the technology and tools to use customer and business data for hyper-personalized messaging in real-time, in one platform, ” said Jeremy Swift, CEO and co-founder of Cordial. “We created Cordial with great intention, building for this new horizon of customer engagement. Cordial gives marketers the ability to use data to engage customers in ways that legacy Marketing Clouds and next-generation providers simply cannot. This new capital allows us to create even more ways for enterprise marketers to deliver outsized value to their customers while continuing to transform our category.”
In a global marketing automation industry exceeding $8 billion, Cordial is uniquely positioned to lead with its robust, reliable, and innovative platform, which includes native messaging channels and customer data platform capabilities built into its core. Cordial empowers companies to easily and instantly access incredible amounts of first- and zero-party data to engage customers in highly personalized ways across email, SMS, mobile app, and other channels. Cordial clients have witnessed a 250x return on investment by using the platform.
Alongside the investment, NewSpring Growth Partner Brian Kim will join Cordial’s board of directors and ABS Capital Partner Bion Ludwig will serve as an observer on its board of directors.
Kim and Ludwig bring extensive operational knowledge and resources to further enhance Cordial’s mission to empower marketing teams to create personal relationships with every customer.
“We are impressed with the innovation and intention Cordial and its leaders are executing within a market keen for a transformation,” said Ludwig. “A combination of a great product and an even better company culture drives Cordial’s growth, and its track record shows its potential to outpace legacy providers. Investing alongside NewSpring in Cordial’s innovative team and technology was an easy decision — its mobile, email and SMS products outperform the competition.”
“Cordial stands out in its ability to consistently deliver value to marketers in need of a dynamic answer and all-in-one solution for personalization and automation,” said Kim. “Cordial offers what other solutions lack in breadth, scalability, and enterprise-grade support, truly partnering with marketers to make the most of their first- and zero-party data. We are excited to partner with Jeremy, Cordial’s leadership team, and our co-investors as the company continues to redefine customer engagement.”
Agile marketers at companies including Boot Barn, Eddie Bauer, and Forbes trust Cordial to accelerate customer engagement and provide a fresh approach to messaging and real-time data. For more information, visit www.cordial.com.
Cordial is a cross-channel marketing platform built to help marketers create unique and unified customer experiences across all channels. Using unlimited data and advanced messaging capabilities, Cordial helps brands communicate with customers in highly personalized ways across email, SMS, mobile app, and more. Founded in San Diego, CA, Cordial was created with the belief that marketing should be more thoughtful and that brands deserve a better experience working with technology partners. Today, brands like Revolve, Backcountry, and Purple rely on Cordial to drive revenue growth by sending a better message. Connect with us at www.cordial.com.
About ABS Capital
ABS Capital provides growth equity capital to B2B software and tech-enabled services businesses with strong technology and data underpinnings looking to scale with the right partners. Building businesses has been our passion for more than 30 years. Over that time, we have invested more than $2.5 billion in approximately 130 companies across eight funds. We bring our investing, operational, infrastructure, technology, and business development skills to amplify the success of growing businesses with data-driven business strategies, market research and analytics, and rolling up our sleeves to support talented management teams. ABS Capital: building emerging growth businesses into industry leaders. For more information, visit www.abscapital.com.
NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $2.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in 200 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.