ActionIQ Secures $30 Million

NEW YORK — ActionIQ, a provider of enterprise marketing services, has raised $30 million in a Series B financing round, led by Silicon Valley venture capital firm Andreessen Horowitz. Previous investors, Sequoia Capital and Firstmark Capital of NY also joined the round, with new investment from local firm Shutterstock.

ActionIQ will use the funding for business development and expansion of its marketing, sales and engineering teams. The company was founded by big data pioneers Tasso Argyros and Nitay Joffe, and has raised a total of $45 million to date.

“This new funding round further cements ActionIQ’s position as the leading Marketing Activation Platform and will accelerate our expansion,” Tasso Argyros, CEO and co-founder of ActionIQ. “Our mission remains to help marketers powerfully execute one-to-one marketing with speed, scale and freedom without having to write SQL, or depend on engineering and IT. We look forward to continuing to work with marketers to effectively tap into valuable data percolating beneath the surface of their businesses.”

ActionIQ has quickly ramped its business to include major clients like Verizon, Weight Watchers, Shutterstock and other large international brands.

“ActionIQ’s traction to date made our investment extremely attractive,” said Martin Casado, partner at Andreessen Horowitz. “The pedigree of the management team and the deep understanding of both marketing technology and data will be a strategic advantage in helping the world’s best B2C marketers triumph. We look forward to adding ActionIQ to our list of disruptive companies.”

Martin Casado will be joining ActionIQ’s board, which includes Sequoia partner Doug Leone and FirstMark Capital Managing Director Matt Turck (board observer) to continue the guidance they have provided since the seed round.

“The story of ActionIQ is one of knowledge and commitment to a vision of Marketing finally mastering their Data” said Nitay Joffe, CTO and co-founder of ActionIQ. “It’s a simple concept that masks huge complexity.”

Marketers become much more tech and customer savvy with large amounts of data from multiple sources at their fingertips. The Marketing clouds have been successful, but have left a donut hole when it comes to data. Marketing organizations are being flooded with new data from new channels; mobile, social, inventories, chat apps, web, etc, and the new data touch points from those channels. Almost no Marketers have these data channels unified, which results in a roadblock when it comes to knowing customers and engaging with them. With ActionIQ, marketers can take any data signal from one channel, such as web, and market to the same customer in another channel, such as mobile, allowing large companies to tame the data flood and automate truly personalized, seamless and predictive experiences to customers.

“One of the most compelling aspects of ActionIQ’s technology is that it puts customer data directly into the hands of marketers,” said Jon Oringer, founder and CEO of Shutterstock Inc, and current ActionIQ client. “As marketers become more data driven and analytical they will need this level of connectivity, speed and access. As a customer, partner, and now an investor we are thrilled to work with Tasso, and Nitay and the ActionIQ team.”