Berlin-based martech startup CrossEngage is a customer data and engagement platform for cross-channel campaign management.
The startup has announced a seven-digit Series A financing round from existing investors including Vorwerk Ventures, Earlybird Venture Capital, Project A, the VC Fund Kreativwirtschaft, Cavalry Ventures, and 42CAP. The financing will be used to further enhance the platform with AI-based predictive modeling features and to expand the customer base in Europe. Along with the investment, the startup is opening a London office and expanding to the UK.
CrossEngage allows consumers to experience meaningful interaction with brands, while companies benefit from stronger customer loyalty and more efficient acquisition of new customers. With an ever stronger digital economy, these factors are increasingly important for the long-term profitability and survival of companies.
“Customer data platforms are establishing as a global trend. We are enhancing this development since the very beginning and will continue to play a major role in shaping the software category as one of the leading European providers,” said Manuel Hinz, co-founder and managing director of CrossEngage. “The step to Great Britain underlines this claim.”
Founded in 2015, CrossEngage already counts well-known companies from various industries among its customers, includig German Rail, HelloFresh, Limango, and Finanzcheck. The startup currently employs around 50 people.
“Last year, CrossEngage made an impressive development—both on the product and customer side,” said Dr. Florian Heinemann, Partner at Project A. “The importance of customer data platforms is becoming more and more important in the market. CrossEngage is one of the main drivers and is excellently positioned.”
In June 2018, the Customer Data Platform Institute predicted that the sales volume for customer data platforms will reach $1 billion in 2019. The European market is showing particularly strong growth and the CDP Institute is registering 33% more providers in Europe than in the previous year. CrossEngage has established itself as one of the first European providers on the market and as a German compnay, has already established data protection into its solution in accordance with GDPR.