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Iterable, a marketing tech startup based in San Francisco raised a sum of $60 mn in Series D round of financing
Fremont, CA: Iterable, a San Francisco-based marketing tech startup closed $60 mn Series D funding round adding to the $80 mn fund it raised earlier this year. Iterable had closed a $50 mn Series C round of financing just earlier this year, in March. According to Justin Zhu, the CEO of Iterable, the company requires no fund at this point of time, but will use the raised fund to emphasize their financial leeway, while moving into next year. Zhu also added that the condition of the company looks suitable for raising funds and it is better to raise money when the company doesn't need it. This helps in supporting the strategies and builds a better and much stronger future for the company. Having excess fund helps the organization to fix their focus on the development goals rather than wasting their precious time worrying about the unpredictable events such as elections or any sort of decline in the overall growth of the market.
The Series D round was led by Viking Global Investors, along with the other participants including Index Ventures, CRV, Blue Cloud Venture, Stereo Capital, and also harmony partners.Zhu further pointed out that the new funds will enable the company to focus on getting more mainstream brands. It already counts numerous startups such as Rocksbox, DoorDash, and ShopRunner as customers. However, Iterable further wants to expand its roster to Fortune 1000 companies. Moreover, the CEO added, the customer companies who need the services from Iterable are the decade-old companies, and they don't possess anything closer to this type of technology
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