We’re so excited to share that we’ve co-led a growth investment in Segment.
Much has changed since we first led Segment’s Series A five years ago. They've become the runaway leader in their market, the standard for how companies stitch together customer data. They’re a household name among this era of great infrastructure-as-a-service/APIs, used by startups and large enterprises alike. Their thoughtful, values-based culture attracts the best and brightest talent even at these later stages. They’ve powered through major scale-out infrastructure challenges, as a company now processing many billions of events.
But a lot of what gets us excited is instead, what's staying the same:
- The notion of being “customer-centric” is defining winners and losers in this new digital economy. It’s invaluable to have a single, data-complete source of truth on your customers.
- Companies interact with users across many channels, generating first-party data that, when wrangled, empowers them to deliver customer experience. (But the underlying data is getting more fragmented, not less!)
- Today’s customer-tech stack — the litany of sales, marketing, and support tools a company deploys — is in a constant state of change. Separating customer data from the applications they feed means companies can plug-and-play the best tools as their needs evolve.
- The reality of privacy legislation means data governance must be a first principle for every digital company. Segment helps solve this.
- This is a Salesforce-size opportunity. It’s one of the most horizontal problems we’ve ever encountered!
A big congrats to the team at Segment on this milestone. We couldn’t be more proud to be on this journey with you, to build the canonical data platform that helps companies deliver incredible customer experiences.