Tealium raises $96mn for maximising customer data impact
San Diego, California-based Tealium offers what it calls a “customer data platform” for customer data orchestration.
Customer data is the lifeblood of companies seeking to create personalised, omnichannel experiences for customers, but wielding it correctly can be challenging.
Tealium’s solution involves connecting customer data collected from sources such as web, mobile and IoT, and integrating with existing technologies to create a unified data infrastructure from which customers can best be reached.
Changes afoot in data ecosystems
Specific solutions include tag management and a machine learning implementation, with the company highlighting its utility in response to changing customer expectations and a tightening regulatory landscape which demands increased levels of compliance and a move away from technologies such as cookies.
“Key factors in the market have come together and created an environment where organizations have to adopt a first party data strategy to stay competitive and viable — and this trend is only increasing,” Jeff Lunsford, CEO, Tealium. “We have seen an acceleration in global enterprises selecting Tealium’s CDP because we can help them realize business value quickly, which is critical in these dynamic times.”
A data unicorn
Since its 2008 foundation, the company has raised across nine funding rounds. Its latest Series G round, announced yesterday, raised $96mn from lead investors Silver Lake Waterman and Georgian, and valued the company at $1.2bn.
The company said it would use the funds to accelerate its ecosystem and product development teams.
“A personalized buying experience is now as important as the quality of product or service being bought,” said Justin LaFayette, Lead Investor at Georgian. “Tealium’s customer data platform helps businesses gain a competitive advantage by providing the insights to deliver a highly personalized customer journey. We are excited to continue our partnership with Tealium as they lead the growing demand for this essential requirement of digitization.”
China announces 6-month campaign to clean up apps
A 6-month campaign has been announced by China’s industry minister, to clean up what it says are serious problems with internet apps violating consumer rights, cybersecurity and “disturbing market order.”
In an online notice the Ministry of Industry and Information Technology said that, among other things, companies must fix pop-ups on apps that deceive and mislead users or force them to use services they might not want.
The order is all part of a wider effort to crack down on tech industries and police use of personal information. Authorities have recently ordered fines and other penalties for some of China’s biggest tech companies.
Earlier this month, the Cyberspace Administration of China (CAC) ordered online stores not to offer Didi's app, saying it illegally collected users' personal data. The company’s shares have now fallen by more than 40% since making its New York Stock Exchange debut on 30 June.
The latest campaign in the tech crackdown
The ministry launched this latest campaign with a teleconference call on Friday and issued its 15th list of dozens of apps it has said require fixing on Sunday.
There are 22 specific scenarios it has said require ‘rectification’, among which the ministry mentioned pop-up windows as a specific problem, especially when all the screen of a pop-up window is a jump link with a false close button.
Other various problems it highlighted were threats to data security due to a failure to encrypt sensitive information while it is being transmitted, and failure to obtain users' consent before providing data to other parties; and malicious blocking of website links and interference with other companies products or services.
It also took aim at illegal broadband networks, which it called “black broadband" that failed to conform to website filing procedures or might be subletting or using illegal access to networks.
Regulators have been stepping up enforcement of data security, financial and other rules against scores of tech companies that dominate entertainment, retail, and other industries.