This week in MarTech: Sitecore Secures $1.2 Billion Investment, Snap Acquires StreetCred, Webflow Raise $140 Million, Mailchimp Acquires Chatitive, ON24 Filed to Raise $100 Million in an IPO
Sitecore Secures $1.2 Billion Investment
Sitecore have secured backing for a massive $1.2 billion in investment. This huge investment, the largest-ever capital investment in the martech space, comes less than five months after Steve Tzikakis joined the digital experience delivery leader as CEO.
Sitecore is positioned for large-scale growth, achieving record revenues over the last three quarters. According to data from McKinsey, the industry jumped five years forward in consumer and business digital adoption in a matter of just eight weeks due to the shift in demand for digital experience solutions caused by the pandemic.
Snap Acquires StreetCred
Snapchat’s parent company, Snap has acquired location data start up, StreetCred for an undisclosed amount. The team from StreetCred will be taking their location learnings to Snapchat where they’ll be working on map and location-related products, following the success of Snapchats’s Snap Map which allows users to view public snaps from a given area and to share their location with friends.
StreetCred had previously raised $1 million in seed funding from Bowery Capital and Notation Capital. Co-founder, Randy Meech said his goal was to “open up and decentralize” location data by building a blockchain-based marketplace where users are rewarded for helping to collect that data back in 2018.
Webflow Raise $140 Million
Webflow have announced that they have raised $140 million in a series B funding round led by returning investors, Accel and Silversmith. CapitalG, an Alphabet venture capital group also joined the Series B.
This comes as the start up raised $72 million back in August 2019, and combined with the latest cash injection, Webflow is being valued at more that $2.1 billion. It’s a strong start to the year for this no-code, website building software.
Mailchimp Acquires Chatitive
Mailchimp have acquired two-way SMS marketing platform, Chatitive for an undisclosed amount. The acquisition will expand Mailchimp’s communication offerings as it adds both automated and human driven mobile messaging for businesses.
This acquisition follows several other strategic acquisitions Mailchimp has made over the past 2 years. In 2019 they acquired Sawa, an automated design platform, and incorporated that technology into the platform with the launch of Creative Assistant, an AI tool that instantly creates beautiful, on-brand designs for our small business customers.
ON24 Filed to Raise $100 Million in an IPO
More success for the virtual events and digital experience space as ON24 Has filed to raise $100 Million in a U.S. IPO.
San Francisco, California-based ON24 was founded to develop an online video and virtual event system with related sales & marketing technologies for enterprises.
The virtual events and digital experience space has seen significant growth in 2020 due to the effect the pandemic and not being able to run in-person events. We expect exciting things to come for ON24 this coming year.
MarTech News Weekly Round-up – over and out.