Resonate Raises $8M in Growth Capital Led by Argentum
RESTON, VA – November 14, 2017 – Resonate, a leading provider of SaaS-enabled real-time consumer intelligence and engagement solutions, announced today that it has raised $8 million in growth capital, in a round led by NYC-based private equity firm Argentum with participation from existing investors Revolution Growth, Greycroft Partners and other private investors. In connection with the transaction, Walter Barandiaran, Co-founder & Managing Partner at Argentum, has joined the Resonate Board of Directors.
The Company will use the funding to accelerate go-to-market activities, with a significant expansion in its sales efforts targeting key B2C brand verticals, as well as agency partners. The investment will also be used to further innovate Resonate’s market-leading Consumer Intelligence platform, deepening investment in Resonate’s “always on” primary research and behavioral infrastructure, as well as its artificial intelligence and deep learning capabilities. In addition, Resonate will add new customer facing mobile and location-based analytics.
Resonate has seen 10x growth in its real-time consumer intelligence SaaS platform business in 2017 year-to-date, and has been recognized by industry analysts as a leader in providing real-time consumer intelligence to marketers, resulting in better marketing strategies, and more precise media activation based upon the same rich, “single source” data describing hundreds of millions of U.S. consumers.
“Resonate is redefining how deeply B2C brands and agencies can understand and engage consumers to build an effective strategy, and measure whether it’s working – all in one SaaS platform,” said Bryan Gernert, CEO and Co-Founder, Resonate. “As brands battle to stay relevant to their customers, we’ve focused on using A.I. to accelerate ‘time to insight’ – the speed with which marketers can uncover the key insights that matter most, and to activate that understanding to find new customers and build brand loyalty with existing customers. We’re leaving traditional custom research, syndicated insights, and siloed channel-specific marketing tools, that can only provide a static, episodic picture of customers, far behind.”
“Resonate is disrupting the marketing landscape with its revolutionary use of A.I. in its Consumer Intelligence platform to unify real-time MarTech and AdTech capabilities into one converged software platform for the first time,” said Walter Barandiaran of Argentum. “We see a strong upward trajectory of growth in the B2C consumer insights and marketing technology market, and we are thrilled to partner with Bryan and the rest of the management team, as well as our co-investors, to accelerate Resonate’s leadership in this market.”
Resonate is a SaaS-based provider of real-time consumer insights, data and media activation and offers the largest single source of in-depth proprietary profiles on 200M+ US adult consumers. The company simplifies how marketers understand and engage the right people with the right message based on the underlying values and motivations that drive their audiences’ decisions to buy or support certain brands, products or causes.
Hundreds of companies have used Resonate’s SaaS platform and activation services to accelerate the ability to identify the right customers, prospects, understand what they care about, know what to say to them, and find more of them across all marketing channels with precision and at scale. Resonate is helping marketers reduce marketing complexity, drive strategy and win more business, while reducing data costs and improving media accuracy.
Headquartered in Reston, Virginia, Resonate is privately held and backed by Argentum, Revolution Growth, Greycroft Partners and iNovia Capital. For more information, please visit www.resonate.com.
Argentum is a New York-based growth equity firm that supports entrepreneurial owners in building industry leading companies. The firm partners with management teams of companies with revenues of $5 to $30 million to provide capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Since raising its first fund in 1990, Argentum has invested in over 80 companies and supported over 200 add-on acquisitions in software, technology-enabled services, and business services.