Segment Raises $175 Million With a Capital D
San Francisco based Segment built its company on managing its clients’ customer data.
In its six years in business, it has now built its company into a business worth $1.5 billion.
That valuation comes from its latest funding round, a $175 million Series D haul with funding provided by Accel, GV, Thrive Capital, Y Combinator Continuity, eVentures, and new investors Meritech Captial amd Sapphire Ventures. Segment has raised $284 million so far.
“With the rapid proliferation of new digital tools and customer touchpoints, the global market opportunity for Customer Data Infrastructure is huge,” said Peter Reinhardt, co-founder and CEO of Segment, in a statement. “We are excited about this latest milestone, which will allow us to accelerate international growth and help even more businesses across the world put their customers first.” Those customers include Levi’s, Meredith Media, Hinge and Intuit.
Segment plans to use the funds to accelerate global expansion, grow its Customer Data Infrastructure, and invest in go-to-market activities in its partner network.
The $1.5 billion valuation puts Segment at #2 among 14 billion dollar U.S. based startups so far this year. Only automotive tech startup Aurora, at $2 billion, ranks higher in our UnicornWatch.