Our Journey Just Got More Interesting! Announcing Our $40M Series C
- Chemi Katz
- October 31, 2019
- 4 min read
2019 has been a remarkable year here at Namogoo and we’re elated to announce today that we’ve raised a $40 million Series C funding round!
Oak HC/FT led this investment round, and we’re happy to have Matt Streisfeld, Partner at Oak HC/FT, join Namogoo’s Board of Directors.
We’re also grateful to that our existing investors GreatPoint Ventures, Blumberg Capital, and Hanaco Venture Capital, have also joined this round. This brings our total funding to-date to $69 million.
This is a hugely significant milestone for Namogoo and is a reflection of how far we’ve come as a team. It’s a testament first and foremost to our people, their passion, innovative thinking, and determination, which have created a workplace culture of collaboration and fun.
At the Heart of Our Journey is that of Our Customers
Since the beginning, our teams have worked tirelessly to educate the market in being the first technology company to discover and solve the previously unknown problem of Customer Journey Hijacking. Our market education efforts in creating a new space within Digital Commerce were recognized by Gartner in 2018
In 2019, Namogoo has grown its customer base by 150%. Our platform is used by over 150 leading brands in over 38 countries, including Tumi, Asics, Argos, Dollar Shave Club, Tailored Brands, Upwork, and others.
In H1 2019 alone, Namogoo has helped its clients recoup over $575 million in online revenue.
We’re proud to have delivered such value to our ambassador clients, who consistently cite Namogoo as one of the most impactful solutions delivering the most significant ROI for their eCommerce brand sites, and to have maintained a nearly zero percent churn rate since our founding in 2014.
To support our growing roster of clients, we expanded our staff in our Boston and Israel offices, while also opening a London office in 2019. We also grew our Partner Program, which includes technology leaders Microsoft, SAP, and Salesforce, and many other innovators in the eCommerce space.
Eliminating Digital Chaos: Our Vision & Company Expands from Here
As exhilarating as the past two years have been, we are even more excited about the future. This round will fuel Namogoo towards fulfilling our vision of Eliminating Digital Chaos.
With businesses investing more than ever in technologies to optimize their website, improve functionality, and tailor the user experience – keeping customers on-site and secure has never been more critical.
It’s also never been more complex. Between Customer Journey Hijacking disrupting web visitors with unauthorized ad injections, to 3rd and 4th party services running on company sites and applications and introducing new privacy risks — this rapidly sprawling, diverse, and dynamic ecosystem spells Digital Chaos for today’s online businesses.
Working with the top online brands around the world has enriched us with a wealth of valuable insights that have helped us to expand our platform’s capabilities and develop new solutions tailored specifically to our clients’ business needs. The culmination of this is our new Customer Privacy Protection solution, which detects and mitigates against all user privacy risks associated with 3rd and 4th party vendors running on company websites and applications.
Enterprises will continue to leverage more 3rd party vendors to improve customer experience and engagement and grow revenues. But these services constantly change and update their code, and can collect sensitive customer data without permission, putting companies at risk of costly data breaches.
Our Customer Privacy Protection solution illuminates these risks for organizations by identifying all customer data accessed by 3rd and 4th party vendors, giving them a new generation of visibility and control over their digital ecosystem.
To help power even more success for our customers, funding from this round will also be used to help our teams in Boston, Israel, and the UK grow even further—We are constantly looking for talented people to join our family!
To Our Incredible Team, Partners, & Clients — Thank You!
We want to thank first and foremost our customers, who have embarked on this journey of discovery with us—together we continue to uncover deeper insights about today’s online customers that enable you to achieve even better business results.
We can’t thank our dedicated employees enough, their commitment to finding new solutions to dynamic challenges has been essential to our success and will continue into the future.
To our investors, thank you for believing in our mission to Eliminate Digital Chaos for online enterprises give them a new generation of visibility and control over their digital ecosystem.
Our journey has taken us to great heights thus far—and we’re excited to go even higher in 2020 and beyond!