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Martech-Report-22-23

The Martech Report 22/23

Martech is more important than ever, and despite a more challenging economic situation in 2022, martech budgets are continuing to grow. The global market for Martech and Salestech is estimated to be worth $508.9bn.

As our latest State of Martech report finds organisations face a number of challenges around marketing technology. The biggest one is finding the skills and talent needed to drive martech initiatives.

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Customer Data Platform Treasure Data Raises $234 Million

In a funding round led by SoftBank Corp, customer data platform (CDP) Treasure Data has secured $234m. 

This makes it the largest-ever funding round for a CDP. The investment is led by SoftBank Corp with participation from Carbide Ventures, an investment firm founded by Treasure Data founders and long-time executives. 

This new funding will be used to finance CDP innovation and to accelerate Treasure Data's global growth. 

CDPs are becoming increasingly popular for marketers thanks to consumer demands and legislation around data privacy, combined with the need to use data more effectively for marketing and to create better customer experiences. 

As companies look to improve customer experience, the amount of different data points you can gather, and the ability to use this data becomes essential to be able to personalise communications and experiences, so CDPs are becoming a must-have tool for many marketers. 

The growth of the CDP looks set to continue. In our recent Martech Report 2021/22, we found that CDPs were one of the biggest areas of investment over the past year, while 28% of respondents are planning to add a CDP to their stack in the next 12 months. 

Martech planned investments

As companies look to improve customer experience, the amount of different data points you can gather, and the ability to use this data becomes essential to be able to personalise communications and experiences, so CDPs are becoming a must-have tool for many marketers. 

According to Kazuki Ohta, co-founder and CEO of Treasure Data:

“We are in the age of the digital customer and now more than ever, it is critical for businesses to leverage the power of data to drive exceptional experiences.

"This investment by SoftBank Corp. will help us execute on our vision of bringing the CDP enterprise-wide, whether it is in marketing, service, sales or beyond. By enhancing our ability to unlock customer-centricity for brands around the world, we continue our long-standing commitment to enable success for Treasure Data’s clients.”