The average enterprise today uses about 90 different software packages, with between 30-40 of them touching customers directly or indirectly. The data that comes out of those systems can prove to be very useful — to help other systems and employees work more intelligently, to help companies make better business decisions — but only if it’s put in order: now, a startup called Tealium, which has built a system precisely to do just that and works with the likes of Facebook and IBM to help manage their customer data, has raised a big round of funding to continue building out the services it provides.
Today, it is announcing a $55 million round of funding — a Series F led by Silver Lake Waterman, the firm’s late-stage capital growth fund; with ABN AMRO, Bain Capital, Declaration Partners, Georgian Partners, Industry Ventures, Parkwood, and Presidio Ventures also participating.
Jeff Lunsford, Tealium’s CEO, said that the company is not disclosing valuation, but he did say that it was “substantially” higher than when the company was last priced three years ago. (For context, that valuation was $305 million in 2016, according to PitchBook — a figure Lunsford didn’t dispute when I spoke with him about it.)
He added that the company is close to profitability and is projected to make $100 million in revenues this year, and that this is being considered the company’s “final round” — presumably a sign that it will either no longer need external funding and that if it does, the next step might be either getting acquired or going public.
This brings the total raised by Tealium to $160 million.
The company’s rise over the last eight years has dovetailed with the rapid growth of big data. The movement of services to digital platforms has resulted in a sea of information. Much of that largely sits untapped, but those who are able to bring it to order can reap the rewards by gaining better insights into their organizations.
Tealium had its beginnings in amassing and ordering tags from internet traffic to help optimise marketing and so on — a business where it competes with the likes of Google and Adobe.
Over time, it has expanded and capitalised to a much wider set of data sources that range well beyond web and commerce, and one use of the funding will be to continue expanding those data sources, and also …read more