Paris-based customer data platform mediarithmics has collected €7 million in its latest funding round, bringing its total investment to €20 million.
Founded in 2013 by its chief technology officer Stéphane Dugelay, the startup aspires to become the next-generation platform of choice for large enterprise clients who need a high degree of internal control over their customer data assets, in order to help compile customer databases and execute audience segmentation.
Since the beginning of 2022, the startup has been led by its CEO Gilles Chetelat, known previously for founding and leading The Timestamp, a curator of short-form tech and business content, and StickyADS.Tv, an online video ads agency since bought by US giant Comcast.
At present, mediarithmics is targeting key media, retail and data-centric customers. Is team has strived to integrate ubiquity into its APIs and SDKs, which allow marketing teams to embed the tools into their existing frameworks directly.
The customer segmentation tool is apparently capable of processing large volumes of vague audience data from both online and offline marketing outreach and CRM portals, turning that data into viable customer profiling.
Anonymised but identifiable traits linked to purchasing preferences can then be used to better engage customers, whether through email bulletins, social media or smartphone push alerts.
Fittingly for a Parisian startup located a two-minute walk from the Europe metro station, mediarithmics is garnering interest across European markets and currently has five European branch offices. Broadcasters TF1 and Canal+ (both from France) are among its clients as well as UK TV station Channel 4 and several more telecoms sector corporates, including Orange and Bouygues Telecom.
Managing customer data is crucial to advertising and marketing across virtually every vertical, and its significance in Europe is set to escalate with the introduction of new protocols expected to prevent data-gathering cookies from being loaded into the user's web browsers.
As web cookies have enabled advertising service providers to create profiles based on customer search activity, vendors believe new software will be required to adequately personalise customer data collected through other channels.
mediarithmics' latest funding round is co-led by the Parisian VC Spring Invest and New York's Bleu Capital, with participation from the CEO Gilles Chetelat as well as its existing partners Ventech, Jaïna, Adélie Capital and Seventure. The funding is expected to support its growth plans while doubling down on its product roadmap.
Commenting on the fundraise, Ventech general partner Claire Houry said mediarithmics' customer data platform was an enabler of business growth.
Houry added: "mediarithmics has already been part of the Ventech family since 2017 and has grown tremendously since then.
"We therefore, want to reaffirm our participation and full support through this new round. We continue to be convinced of their ability to provide technology to others and thereby enable growth. High-performing companies like this are designed to thrive no matter what financial environment we find ourselves in."