Kustomer raises $40M more led by Tiger Global for its omnichannel approach to CRM
On the heels of customer service company Zendesk announcing an acquisition to expand its omnichannel offering, one of the upstarts nipping at its heels has announced a round of funding to continue growing its own platform.
Kustomer, a customer service startup that calls in data from multiple external channels and the software and apps that a company uses to manage its business internally and speak to customers externally, has raised a Series D of $40 million, led by Tiger Global, with participation from previous investor Battery Ventures. The plan will be to bring in more automation and AI processes to reduce more of the repetitive tasks around CRM — a move specifically aimed to help it target large enterprise customers — and to expand further into Europe, CEO Brad Birnbaum said in an interview.
The valuation is not being disclosed with this round, although Birnbaum noted that it is a “very significant uplift” on its previous valuation. PitchBook, as one data point, notes that in its Series B, it was valued at around $121 million post-money. Adding another $75 million to that (Series C and D together), it’s close to $200 million, although that’s likely lower than its actual valuation