Mombasa Info
Related Articles
Global ZetaThe marketing technology company founded by David A. Steinberg and former Apple CEO John Sculley announces additional new debt financing of $222.5 million.
The company went the debt route before – a Series F raised in 2017 combined financing of $115 million and debt of $25 million. BofA Securities acted as lead arranger and bookrunner for the new financing, with participation from Barclays, Credit Suisse and Morgan Stanley Senior Funding.
“For this cycle, we were able to both refinance our debt and add a large amount of capacity for ongoing operations and future initiatives,” Steinberg (CEO of Zeta) told me via email. “We were able to work with our union to take advantage of low interest rates and take advantage of strong credit markets.”
The company emphasizes its data-driven approach to marketing, combining companies’ first-party data with artificial intelligence and what it says are more than 2.4 billion customer IDs. Steinberg said this approach has only become more crucial, with 2020 offering “a five-year acceleration” as brands face the challenge of “digitally transforming their business structure to be data-centric”.
“Zeta’s capabilities help marketers engage customers across the digital ecosystem more intelligently and effectively, with individualized messages, offers and content through our identity-based data and our Predictive AI,” Steinberg continued. “Our challenge is to continue to meet the needs of our customers and maintain our competitive advantage around data and AI.”
The company’s funding announcement indicates that previous loans have been used to fund acquisitions and integrations, including Disqus comment platform and Boomtrain machine learning-based marketing platform. When asked if this new debt would also be used for acquisitions, Steinberg said the company continues to “innovate organically,” with a focus on its customer data platform and connected television.
Early stage is the premier “how to” event for startup entrepreneurs and investors. You’ll hear first-hand how some of the most successful founders and VCs are building their businesses, raising funds, and managing their portfolios. We will cover all aspects of business creation: fundraising, recruitment, sales, legal, public relations, marketing and brand building. Each session also incorporates audience participation – there is ample time included in each for questions and audience discussion.
