A Data Science Central Community
With $104M in Total Funding, New Capitalization Opens Doors for Product Alliance With Intel Security
MOUNTAIN VIEW, CA--(Marketwired - Nov 4, 2014) - Gigya, the leading Customer Identity Management Platform, today announced it has raised $35 million in growth capital, led by Intel Capital. Also participating in the round are Common Fund Capital and Vintage Investment Partners, as well as existing investors Adobe, Advance Publications, Benchmark Capital, DAG Ventures, Greenspring Associates and Mayfield Fund. This round brings Gigya's total funding to $104 million.
Gigya's cloud platform for customer identity management helps companies build better customer relationships by turning unknown visitors into known, loyal and engaged customers. With Gigya's technology, businesses increase registrations and identify customers across devices, consolidate identity data into rich customer profiles, and create personalized user experiences by integrating data into marketing and service applications. The company has seen enormous adoption of its technology in the last year and is on pace to process more than 1 billion registrations and logins in 2014. The company counts more than 700 of the world's largest businesses as its customers, including NBC, Forbes, AutoTrader, Dell, PacSun, Tommy Hilfiger and Barneys New York.
"The days of anonymity on the Internet are over. That's a good thing," says Patrick Salyer, CEO of Gigya. "Consumers have made it clear that customization and personalization are here to stay. To get there, businesses need to understand the wants and needs of their customers, and that starts with identity. But many approaches to collecting and managing customer information violate user privacy and data regulations, and are neither accurate nor useful. Moreover, legacy approaches aren't up to the technical task: they can't handle the unstructured data generated from mobile and social applications. We designed our platform from the ground up to manage the complexities of the modern consumer's identity, including issues around social, mobile, privacy and security. Our alliance with Intel enables us to continue to innovate and make the web more customized for everyone."
With its new capital injection, Gigya will invest heavily in expanding its global market share by devoting resources to scale its sales, marketing and client services teams across its seven offices around the world. The company also plans to expand its product line. Additionally, through their expanded relationship, Gigya and Intel Security will be working together to bring new solutions to market that will allow consumers to effortlessly authenticate on sites and mobile applications.
"When we looked at addressing the problem of passwords, we were impressed with the platform and reach that Gigya has developed. Given its scale, proven leadership and ubiquity in the market, we saw a huge opportunity to not only collaborate with the company but also to invest," said Mark Hocking, vice president and general manager of Safe Identity at Intel Security. "We look forward to working with Gigya even more closely as we create innovative customer identity management capabilities that make authentication both easy and secure."
The Intel Capital investment was led by Managing Director Ken Elefant.
Gigya's Customer Identity Management Platform helps companies build better customer relationships by turning unknown visitors into known, loyal and engaged customers. With Gigya's technology, businesses increase registrations and identify customers across devices, consolidate data into rich customer profiles, and provide better service, products and experiences by integrating data into marketing and service applications.
Gigya's platform was designed from the ground up for social identities, mobile devices, consumer privacy and modern marketing. Gigya provides developers with the APIs they need to easily build and maintain secure and scalable registration, authentication, profile management, data analytics and third-party integrations.
More than 700 of the world's leading businesses such as Fox, Forbes, and Verizon rely on Gigya to build identity-driven relationships and to provide scalable, secure Customer Identity Management. Headquartered in Mountain View, CA, Gigya is privately held and has raised more than $100m in capital from several leading venture capital firms including Benchmark Capital, DAG Ventures, First Round Capital, Greenspring Associates, Intel Capital and Mayfield.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,400 companies in 57 countries. In that timeframe, 209 portfolio companies have gone public on various exchanges around the world and 363 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments, with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visitwww.intelcapital.com or follow @Intelcapital.