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Startups

Insider Secures $500 Million for AI-Powered Growth

03 Nov, 2024
Insider Secures $500 Million for AI-Powered Growth

Insider, a prominent player in the AI-native omnichannel experience and customer engagement landscape, has successfully completed a $500 million Series E funding round. This significant investment was led by General Atlantic, a global growth investor renowned for its commitment to innovative companies.

With these funds, Insider aims to enhance its next-generation marketing software while making substantial investments in research and development. The focus will be on expanding and evolving its artificial intelligence (AI) solutions, scaling its workforce, and increasing its geographic presence. Currently operating in 28 countries across five continents—including North America, EMEA, APAC, and Latin America—Insider is particularly interested in amplifying its efforts in the U.S. market, where it has witnessed notable growth. Furthermore, the company is set to explore strategic mergers and acquisitions (M&A) opportunities to bolster its market position.

As a leader in enterprise marketing software, Insider empowers marketers and customer experience teams to craft highly personalized omnichannel experiences. The platform offers an integrated Customer Data Platform (CDP) that consolidates data and marketing applications, enabling seamless marketing automation and customer journey orchestration across more than 12 channels, including WhatsApp, SMS, email, and various web applications. This capability allows brands to efficiently gather, analyze, and utilize first-party data in real-time, driving growth, improving marketing efficiency, and fostering more meaningful customer relationships.

Hande Cilingir, Co-Founder and CEO of Insider, articulated the company's mission: “Our goal is to empower marketing and customer experience teams to provide a comprehensive omnichannel experience and enhance customer engagement.” Cilingir emphasized that unlike traditional tech firms focusing on singular products, Insider’s strategy involves developing a suite of industry-leading solutions that integrate into a cohesive platform. This approach positions Insider to significantly disrupt the marketing technology sector.

Serhat Soyuerel, Co-Founder and Chief Revenue Officer at Insider, noted that many brands are keen to move away from conventional marketing clouds that can stifle growth. To facilitate this transition, Insider has created a comprehensive migration plan that allows brands to switch seamlessly. Over the past year, 150 brands have successfully migrated to Insider’s platform, achieving up to five times faster time to value compared to their previous vendors.

The company recently unveiled its patent-pending Sirius AI™, an advanced solution designed for end-to-end omnichannel experience creation. This innovative technology leverages generative, conversational, and predictive AI to enhance user interaction at every level.

Muharrem Derinkok, Co-Founder and Chief Product Officer, stated that the funding will expedite Insider’s ambitious product roadmap and expand its in-house engineering team, which currently numbers over 350. Insider is focused on realizing its vision of a comprehensive AI-native omnichannel experience that integrates promotional, transactional, and support functionalities across a diverse range of channels.

General Atlantic's executives, including Sascha Guenther, Managing Director and Head of DACH, expressed confidence in Insider's potential, highlighting the ongoing evolution in the marketing technology industry driven by data proliferation, the importance of first-party data, and increasing consumer demand for personalized experiences. Guenther remarked, “Insider has successfully positioned itself as a dynamic innovator in the B2B SaaS sector, delivering measurable ROI to its clients.”

As part of this transaction, Guenther, along with Alex Crisses and Christopher Apfel from General Atlantic, will join Insider's Board of Directors, further reinforcing the strategic partnership aimed at scaling the company’s innovative solutions.

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