SheerID, which specializes in identity marketing, announced it has received $64 million in equity funding led by CVC Growth Partners.
Founded in 2011, SheerID helps brands identify and acquire customer tribes, like military, students, teachers and more, with personalized offers, gated by instant verification from a set of worldwide data totaling at 9,000 sources and 1.3 billion identity attributes. The company provides global insights from over 200 of the world’s leading brands. Among its clients are Amazon, Lowe’s, Spotify and T-Mobile.
“Our exponential growth is driven by major shifts in personalization, privacy, and performance marketing. Marketers are struggling to capture the attention of consumers who want more control over their personal data and less uninvited marketing from brands,” said Jake Weatherly, CEO of SheerID, in a statement. “Our platform allows brands to create offers that honor and recognize an entire consumer tribe, increasing trust and word-of-mouth, and decreasing customer acquisition costs.”
SheerID plans to use the new funding to expand its business and its platform worldwide.