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Tealium Receives $10.5M in Series B Financing From Battery Ventures to Extend Global Leadership in Enterprise Tag Management(July 16, 2012)
SAN DIEGO, CA and BOSTON, MA -- (Marketwire) -- 07/16/12 -- Tealium, the leader in enterprise tag management, today announced that it has received $10.5M in Series B financing from Battery Ventures to help fund growth across the entire company as it continues to build on its market leadership and momentum in enterprise tag management.
Battery Ventures is one of the most respected venture capital firms in the world, having raised nearly $4B since its inception in 1983. The company has invested in market-leading technology companies such as Akamai, Angie's List, Bladelogic, Guidewire Software, ITA Software (now Google), MetroPCS, Netezza and more. Tealium is Battery's most recent addition to its digital marketing technology portfolio, a total of 16 companies that includes Bazaarvoice, ExactTarget, Groupon, Marketo, Mass Relevance, Neolane, Omniture (now Adobe Systems), Sprinklr and others.
Tag management is a digital marketing enablement technology that allows marketers to more easily deploy and manage their tag-based online solutions, which are key for improving online business results. These solutions include everything from web analytics and affiliate marketing to social media and email marketing. After evaluating the market, Battery decided to invest in Tealium based on several factors:
- Technology leadership - Tealium's client-side model avoids the use of an application server to manage vendor tags, thereby avoiding a potential point of failure while delivering unparalleled scale and performance. This difference is why global brands with multiple web properties and large traffic volumes choose Tealium over the competition.
- Seasoned executive team - Tealium's management team is comprised of executives and senior managers from WebSideStory, a leader in SaaS-based web analytics and online business optimization solutions. WebSideStory went public in 2004 and was later acquired by Adobe Systems via Omniture. Tealium co-founders Mike Anderson and Ali Behnam oversaw complex tag implementations for some of the largest brands in the world while at WebSideStory. They started Tealium in 2008 with a deep understanding of tagging associated with digital marketing implementations.
- Market momentum - Tealium added 60 paid enterprise clients during the first six months of 2012, and now has more than 100+ paid enterprise customers on five different continents. Select new clients include the NHL, News International, Fox Networks Group, Nokia, Vodafone Germany, and many more. Tealium's revenues during the first half of the year grew 700 percent compared to the same time last year. Last month, Tealium was positioned as the market leader in tag management in Econsultancy's new research report, "Tag Management Buyer's Guide." Tealium was identified as having the biggest global focus, while ranking larger than any competitor except one.
"We are excited about our investment in Tealium because the company fits squarely into our thesis that the marketing function is evolving. Today's digital marketer needs to be in control of the online solutions they use every day to drive better business results. New marketing technologies such as tag management provide that," said Neeraj Agrawal, Battery Ventures general partner, who will join Tealium's board of directors. "As demonstrated by their impressive customer traction, Tealium has the best technology, the right approach and a one-of-a-kind team. We're looking forward to supporting the company as it takes this category to new heights."
The new funding, which follows a $1.1M Series A financing round in January, will be used to help fuel further product innovation and development, as well as increase staffing in marketing, sales and account management worldwide.
"Battery Ventures has a long history of success in investing in market-leading companies," said Ali Behnam, co-founder at Tealium. "We are proud and excited to have them as partners and look forward to using this new capital to better serve our customers and extend our market leadership."
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company's life, from seed, start-up and expansion financing, to growth equity and buyouts.
Battery has supported many breakthrough companies around the world, including: Airespace (acquired by Cisco), Akamai Technologies (IPO), Angie's List (IPO), Anobit (acquired by Apple), Bazaarvoice (IPO), Bladelogic (acquired by BMC), ExactTarget (IPO), Groupon (IPO), Guidewire Software (IPO), ITA Software (acquired by Google), MetroPCS (IPO), Netezza (acquired by IBM), Skullcandy (IPO), XtremIO (acquired by EMC) and VSS Monitoring (acquired by Danaher). Its current portfolio includes emerging and high growth technology companies such as: BrightEdge, Kontagent, Marketo, Neolane, Pursway, Sprinklr, StellaService and Wayfair.
From offices in Boston, Silicon Valley and Israel, Battery manages nearly $4B in committed capital, including its current fund of $750M. For more information, visit www.battery.com. Follow Battery on Twitter.
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