附近上门

Philadelphia-based customer analytics and subscription platform raised an $88 million round 鈥� a mix of both equity and debt 鈥� after growing revenue nearly 400 percent since the beginning of 2019.

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The new round consists of about $20 million in equity 鈥� led by existing investors , with supporting investments from and 鈥� and approximately $68 million in debt from . The company has raised a total of $65.9 million in equity and $68.5 million in debt.

Piano鈥檚 platform is used by more than 400 media brands to help with the monetization of consumers through subscriptions and advertising. While about 80 percent of the company鈥檚 business is from media companies, CEO said Piano has started to expand into verticals such as health care, financial services and transportation as all businesses look to use consumer data better to help drive revenue growth.

鈥淔irst-party data about customers is more important than ever before, and how you act on it is also more important than ever,鈥� Kaufman said.

Deals

Part of the company’s growth has been courtesy of recent deal-making. Piano raised a $22 million Series B in January 2019 ahead of buying Norway-based data management platform . Then in March of this year, Piano acquired France-based analytics platform .

Kaufman said part of the new round went to help with the AT Internet transaction and the 630-person company also plans to use some of the proceeds to continue to add capabilities to the product as it faces off with large tech giants like and in the web analytics market.

, general partner of Updata Partners, said while there may be large competitors in the space, Piano is the only one focused on the market and the enormous opportunity it presents.

鈥淲e are solving a very different and specific set of problems and the others do it in such a broad way,鈥� he said 鈥淭his opportunity is just so expansive.鈥�

Illustration: .