Okendo plans to use the funds to support continued expansion in North America. Here are the top-line bullets you need to know.
Okendo, a customer marketing and reviews platform, has raised $26M in a Series A. The round drew participation from Base10 Partners, Craft Ventures, and Index Ventures.
HOW’S THE COMPANY PERFORMING?
- Australia-based Okendo helps Shopify merchants collect and display customer-generated content and reviews.
- The company caters to over 5K brands, including Frame, Nomad, Buck Mason, Skims, Haus, and Liquid Death.
- Its annual recurring revenue has grown 2x over the past 18 months.
- The company has a team of 83 employees across the US and Australia.
Source: Okendo
WHY DOES THE MARKET MATTER?
- The global customer data platform market is expected to reach a value of $5.5B by 2028, growing at a CAGR of 25%, according to Fortune Business Insights.
- The increasing adoption of digital marketing and advertising campaigns for customer acquisition as well as the widespread proliferation of digital touchpoints are driving the market’s growth.
- The advancement of IoT, analytics, blockchain, AI, ML, and cloud technologies has also boosted market growth.
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