Sequoia led a $25 million Series C funding in Drawbridge, a technology company that provides cross-device identity data. Existing investors Kleiner Perkins Caufield Byers and Northgate Capital also participated.
Drawbridge, the anonymized digital identity company, today announced it has raised $25M in Series C funding led by Sequoia, the early investor in Apple, Google, WhatsApp, and other hallmark companies. The company’s other existing investors Kleiner Perkins Caufield Byers and Northgate Capital also participated in this latest round. With this new funding, Drawbridge will expand its global graph licensing and platform business, further enabling brands and enterprises to resolve identity fragmentation and deliver hyper-relevant messages to their audiences across digital devices and channels.
“Providing customers with a unified experience across devices is one of the biggest challenges facing the Fortune 500, particularly given the walled gardens of Facebook and Google,” said Jim Goetz, partner, Sequoia. “Drawbridge is democratizing consumer identity across the digital world at scale. It’s an incredible technical achievement and we’re excited to double down on our partnership as Kamakshi and team enter this new phase of growth.”
With $45.5M funding to-date, Drawbridge has built one of the most comprehensive digital identity solutions in the market, ranking among Facebook and Google in both the reach and precision of its identity data. Unlike the walled gardens, Drawbridge has the advantage of precision, scale, and portability without requiring a user’s personal information to deliver customized consumer experiences across the Internet. From ecommerce to retail to travel, any business whose users access their product or service across multiple devices can work with Drawbridge to reach more than 1.2 billion consumers across more than five billion digital touchpoints.
Over the past 18 months, Drawbridge has evolved its core offering to include data licensing and a software-as-a-service platform, which empower a range of businesses to better connect with their customers across multiple touch points, and measure that performance. Drawbridge currently works with a breadth of agencies, enterprises, and brands – as evidenced by their recent partnerships with M&C Saatchi Mobile, Oracle, and Lyft – in addition to its portfolio of advertising customers. As proof of their market traction, in Q4 of 2015, Drawbridge revenue reached an annualized run-rate of $100M.
“In the first six years as a company, Drawbridge has seen the market shift from skepticism about the need for and validity of an independent cross-device identity solution to early traction,” said Kamakshi Sivaramakrishnan, founder and CEO of Drawbridge. “Adtech applications were one avenue that demonstrated the value of cross-device data, but now with this funding and our growing adoption by brands and enterprises, Drawbridge has the runway to become the largest independent cross-device identity solution in the market.”
The funding comes at a time when demand for cross-device data is growing rapidly. Each day, there are more than three trillion Internet transactions generated by people who are spending their time using different devices, in different environments, and in different channels. All of this activity creates an enormous challenge for brands, as their customers’ profiles are fragmented. Drawbridge provides a highly precise, unified view of each customer along their journey from discovery to purchase, which brands can leverage for content optimization, website personalization, risk and fraud detection, attribution, marketing automation, customer experience, and other applications beyond programmatic advertising.
Drawbridge is a leading anonymized cross-device identity company building technology that fundamentally changes the way brands connect with people. The Drawbridge Connected Consumer Graph® includes more than one billion consumers across more than five billion digital touchpoints, and was found by Nielsen to be up to 97.3% precise. Brands can work with Drawbridge in three ways: by licensing the Drawbridge Connected Consumer Graph for cross-device data applications; managing cross-device ad campaigns in real-time using the Drawbridge Cross-Device Platform; or working with Drawbridge to execute cross-device campaigns. The company is headquartered in Silicon Valley, is backed by Sequoia Capital, Kleiner Perkins Caufield Byers, and Northgate Capital, and was named the fastest growing marketing and advertising company and sixth overall on the 2015 Inc. 5000 list. For more information visit www.drawbridge.com.