SaaS platform provider Kustomer has raised $40 million in Series D funding in a round led by Tiger Global Management along with participation by Battery Ventures. This follows a $35 million Series C round revealed earlier this year.
“This marks the company’s third round of financing in less than 12 months and brings the company’s total funding to $113.5 million,” Kustomer said in a statement, adding that this latest round “comes after a year of explosive growth for the company.”
“In the past 12 months, Kustomer grew by 350 percent and expanded operations to Raleigh-Durham, N.C.,” the company noted. “Kustomer will also continue to grow abroad by increasing its European presence and plans to double its overall staff size worldwide by the end of this year.”
Kustomer’s client list includes Ring, Rent the Runway, Glovo, Glossier, Away and Untuckit. “At Rent the Runway, our members and their experience is of primary importance and critical to our success — Kustomer has supported our teams and enabled us to deliver on our brand promise,” said Gabby Cohen, senior vice president of brand, marketing and communication at Rent the Runway.
Along with the funding announcement, Kustomer named Wendi Sturgis, chief executive officer of Yext Europe and chief client officer at Yext, to its board of directors. Sturgis held various positions at Yahoo, Oracle, Gartner and Right Media. She described Kustomer as “one of the fastest-growing start-ups in its space” and praised the company’s mission to “redefine what it means to truly put the customer first.”
Brad Birnbaum, ceo and cofounder of Kustomer, said clients are using the platform “to deliver personalized, responsive, and high-value service in less time and at less cost.”
“As a result, we have seen our growth trajectory outpacing many successful enterprise SaaS vendors at a similar stage,” Birnbaum said. “Looking to the future, we will use these funds to further invest in automated intelligence and ensure the platform extends our lead in innovation over legacy systems such as Salesforce and Zendesk.”
Kustomer was founded in 2015, and is based in New York City. To date, the company has raised more than $113.5 million in venture funding, and has backers that include Tiger Global Management, Battery Ventures, Redpoint Ventures, Cisco Investments, Canaan Partners, Boldstart Ventures and Social Leverage.