CDP industry continues to expand, hits $2.4 billion in funding

The CDP industry continued to develop in the primary half of 2019, in accordance to the most recent semi-annual report from the CDP Institute. The industry has reached 96 distributors, 9,026 workers, and $2.four billion in funding, as seen in the graph under.

CDP industry growth as of August 2019

The CDP Institute defines a buyer information platform as “a packaged software that creates a persistent, unified customer database that is accessible to other systems.”

Therefore, a platform would have to meet every of these three standards (packaged software program, unified buyer database, and accessible to different methods) to be categorized as a CDP, reasonably than a CRM, DAM, CMP, and so on.

The time period “customer data platform” emerged in 2013, and the CDP Institute was fashioned in 2016. They’ve been making these experiences twice per yr since January 2017.

CDP industry funding hits “by far the largest amount per period since the report began”

“New funding for the period totaled $317 million, compared with $58 million in the preceding report period,” the report states. “This is by far the largest amount per period since the report began.”

It’s price noting that simply over half the overall funding got here from Segment, who introduced a $175 million Series D spherical again in April of this yr.

At the time of their announcement, Segment CEO and co-founder Peter Reinhardt mentioned:

“CRMs and their associated suites are no longer able to deliver great customer experiences. With the rapid proliferation of new digital tools and customer touchpoints, the global market opportunity for Customer Data Infrastructure is huge. We are excited about this latest milestone, which will allow us to accelerate international growth and help even more businesses across the world put their customers first.”

CDP employment up 71% since final yr

In the final 12 months, employment in the CDP industry grew 71%, from 5,384 workers in July 2018 to 9,206 workers in July 2019.

Most of that progress, in accordance to the report, got here from the 19 new distributors who joined the sector in the final yr.

The CDP Institute expects this progress to proceed, and has confirmed its projections for the CDP industry to attain $1 billion in income by the top of this yr.

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