Customer Data Platform

Industry Update

January 2023

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 Customer Data Platform Industry Update: January 2023

Contents

Executive Summary....................................................................................................................................... 2
Background Information ............................................................................................................................... 3
Period Overview............................................................................................................................................ 6
Companies Added ......................................................................................................................................... 8
CDP Types...................................................................................................................................................... 9
Year Founded .............................................................................................................................................. 10
Regions ........................................................................................................................................................ 11
Industry Concentration ............................................................................................................................... 13
Funding ....................................................................................................................................................... 14
Acquisitions ................................................................................................................................................. 15
Appendix – Vendor Summary ..................................................................................................................... 16
About the CDP Institute .............................................................................................................................. 21

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 Customer Data Platform Industry Update: January 2023

Executive Summary

The CDP industry ran into the same headwinds as the rest of the tech industry in the second half of 2022,
with over-all employment growth at previously listed firms slowing to a 1% increase. However, the
fundamental appeal of the industry has not changed: funding and new firms both held at long-term
average levels and there were no acquisitions of firms that could not survive on their own.

Highlights of the period include:

• Mixed employment results: headcounts at CDP vendors were virtually flat in the pandemic year of
2020 and then rebounded in 2021 and the first half of 2022. Growth again fell sharply the most recent
period, with net employment at previously-listed vendors increasing just 1%. The slowdown was
unevenly distributed: 38% of firms showed an average employment decrease of 8%, while the
remaining 62% of firms grew an average of 9%.

• Slowdown at large firms: the top 25% of vendors have historically grown faster than the industry as
a whole. This pattern did not hold up in the current report, as the larger vendors grew just 1% while
vendors in the second and third quartiles grew 2%. This probably reflects preemptive cutbacks by
firms that expanded aggressively during the previous periods. The smallest vendors shrank by 6%, far
below the -2% long-term average.

• Growth continues: the CDP Institute estimates that the industry will expand in 2023 at a slower pace
than previously, reaching revenue of $2.3 billion compared with $2.0 billion in 2022. Growth is likely
to be faster outside the U.S., to reach industries including education, healthcare, telecommunications,
and financial services, and to extend beyond marketing to other company departments.

• More dedicated CDPs: six of the eleven vendors added in this report were less than ten years old and
five were data or analytics CDPs. These firms were probably CDPs from the start, while older
companies and campaign and delivery CDPs tend to be businesses that started as something else.

• Funding remains stable: there were three funding rounds over $50 million, up from one in the
previous period, and total industry funding grew by a respectable $700 million. A slowdown is
probably coming but so far investors seem to remain confident about industry prospects.

• No new acquisitions: this report lists no new acquisitions, although it does include two older
acquisitions were not captured in previous reports. Acquisitions happen for many different reasons
but their absence suggests that no struggling vendors are being sold at fire-sale prices. There were
several acquisitions made by CDP vendors, showing strength as those vendors expand their products.

• Regional stability: the industry shares of European and Asian vendors have remained largely
unchanged in recent periods. Firms outside the U.S. remain smaller and less well funded than their
U.S. counterparts.

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 Customer Data Platform Industry Update: January 2023

Background Information

CDP Definition

Customer Data Platform is defined by the CDP Institute as “packaged software that creates a persistent,
unified customer database that is accessible to other systems”. Key elements of the definition are:

• Packaged software. The CDP is packaged software, usually bought and controlled by business users,
most often in marketing. This distinguishes CDPs from data warehouses and data lakes, which are
usually custom-built by corporate or external IT specialists. The packaged nature of the CDP makes it
easier to deploy and change as new needs arise. Corporate IT teams must help to set up and maintain
the CDP but most technical resources are usually provided by the vendor or external consultants.

• Persistent, unified customer database. The CDP creates a comprehensive view of each customer by
capturing data from multiple systems, linking information related to the same customer, and storing
the information to track behavior over time. The CDP contains personal identifiers used to target
marketing messages and track individual-level marketing results. CDPs work primarily with data
gathered by a company’s own systems about identified individuals. They may also include data from
external sources and about anonymous individuals. The CDP is able to retain all details of input data
indefinitely, although users may restrict what is stored and how long it is kept.

• Accessible to other systems. Data stored in the CDP can be used by other systems for analysis and to
manage customer interactions. The CDP restructures the data, adds calculated values such as trends
and model scores, and shares the results in formats that other systems can accept. Access methods
typically include APIs, database queries, and file extracts.

These features distinguish CDP from other packaged software that also manages customer data.
Customer Relationship Management and Marketing Automation systems work primarily with their own
data. Data Management Platforms store only limited details for limited periods and include large volumes
of externally-owned data. Integration Platforms do not maintain a permanent database. Master Data
Management systems store identifiers but not transactions.

Other systems may provide similar functions to a CDP. These include data warehouses, data lakes,
marketing clouds, and operational systems such as ecommerce platforms. Often these are limited in the
data sources they can ingest or the access to the data they assemble. Products in these categories are
included in this report if they provide a CDP that meets the Institute definition.

Industry History

The term Customer Data Platform was coined in 2013 to describe several types of marketing systems that
shared the ability to build a unified customer database. This was unusual at the time. Most of these
products created the database to support an application such as predictive modeling, attribution, Web
site personalization, or campaign management. Over time, many vendors recognized that their database
could also be used by other applications. They added features to allow access by other systems, creating

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 Customer Data Platform Industry Update: January 2023

true CDPs. During the same period, several Web analytics and tag management vendors recognized they
could modify their data-gathering systems to build a persistent database, creating another form of CDP.

By 2016, both sets of vendors had converged to form the CDP industry. Since then, the industry has grown
quickly as companies recognized the need for unified data and the shortcomings of alternatives such as
data warehouses, data lakes, CRM, and DMP. Growth was further boosted by CDP features that help
companies comply with privacy regulations such as the General Data Protection Regulation (GDPR). Major
marketing software vendors including Salesforce and Adobe were slow to understand the need for CDPs
that created a persistent database rather than assembling data from source systems on demand. This
created an opportunity for independent vendors to grow during the first few years of the industry. The
gap had largely been closed by 2020, when all major vendors had introduced some version of a true CDP.

The CDP Institute was founded in 2016 to educate marketers and technologists about CDP capabilities.
The Institute published its first Industry Update report in January 2017. It has released new editions at
six-month intervals since that time.

Companies Included

Vendors included in this report have products that meet the CDP Institute’s definition of a CDP.
Companies that promote themselves as a CDP are included even if CDP is not their primary product, so
long as their CDP meets the Institute’s definition. No payment is required to be listed.

Companies are occasionally removed from the list due to clearer understanding of their products, changes
in their products, or changes in the company’s business. When companies are removed, they are excluded
from prior period analyses. One firm was dropped from this edition:

• campaign CDP Advalo (purchased in September 2021 by customer engagement platform Skeepers
and merged into the Skeepers product).

Employment Data

Employee counts in this report are taken from LinkedIn. Comparison with other information has shown
these to be reasonably accurate. However, it is likely that they are more complete for U.S. firms than
European or Asian firms. The CDP Institute also checks with the vendors and offers them an opportunity
to provide corrected figures.

Employment figures for companies whose primary business is not CDP software have been reduced in the
statistical analyses to avoid overstating those firms’ position in the CDP marketplace. The reduced
estimates are referred to as “CDP Employment” while total employee counts are labelled “Total
Employment”. The reductions are based on the CDP Institute’s estimate of the share of revenue these
firms get from their CDP products. Some firms provide guidance for these estimates and others, especially
the enterprise software vendors, do not. Firms treated this way are flagged in the Appendix. They now
account for 29% of the companies, 43% of estimated CDP employment and 53% of funding. CDP
employment for these companies is assumed to grow at the same rate as the parent company. This
probably understates true growth because the CDP business is likely to grow faster than the parent.

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 Customer Data Platform Industry Update: January 2023

Funding Data

Funding data comes from Crunchbase, which is not always complete. In particular, many older firms had
funding not captured in Crunchbase. Crunchbase is also more likely to miss information on non-U.S. firms.
Funds raised through stock offerings or debt are not included.

Vendor Categories

This report groups CDP vendors into four categories based on the functions provided by their systems.
Each category includes functions provided by the previous categories. There are great variations among
vendors within each category. Categories are:

• Data CDP. These systems gather customer data from source systems, link data to identities, assemble
unified customer profiles, and store the results in a database available to external systems. This is the
minimum set of functions required to qualify as a CDP under the CDP Institute’s definition. In practice,
these systems also can extract audience segments and send them to external systems. Systems in
this category often employ specialized technologies for data management and access. Some began
as tag management or Web analytics systems and retain considerable legacy business in those areas.

• Analytics CDP. These systems provide the features of a data CDP plus analytical applications. The
applications always include customer segmentation and sometimes extend to machine learning,
predictive modeling, revenue attribution, and journey mapping. These systems often automate the
distribution of data to other systems.

• Campaign CDP. These systems provide data assembly, analytics, and customer treatments. What
distinguishes treatments from segmentation is that treatments can be different for different
individuals within a segment. Treatments may be personalized messages, outbound marketing
campaigns, real time interactions, or product or content recommendations. These systems often
include features to orchestrate customer treatments across channels.

• Delivery CDP. These systems provide data assembly, analytics, customer treatments, and message
delivery. Delivery may be through email, Web site, mobile apps, CRM, advertising, or several of these.
Products in this category often started as delivery systems and added CDP functions to support
advanced analytics, personalization, or multi-channel campaigns.

Revenue Estimate

Revenue estimates are based on the number of CDP employees. The revenue per employee is derived
from data provided by several CDP vendors and from industry averages. The adjusted average is $140,000
per employee per year. The CDP Institute estimates industry revenue at $2.3 billion for 2023, up from
$2.0 billion in 2022.

Disclaimer

Information in this report was gathered in December 2022. Neither the CDP Institute nor the original data
providers are responsible for the accuracy of any report contents.

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 Customer Data Platform Industry Update: January 2023

Period Overview

The CDP industry growth slowed in the second half of 2022, mirroring the tech industry as a whole. Eleven
vendors were added, a typical period number, but employment grew by a modest 1,004, less the half of
the record-setting previous period. Total funding rose by just under $700 million, also half the total of the
previous period.

CDP Industry Growth

$6,442
16,097 $5,746
15,093
12,595 $4,230
160 171 11,329
145 149 10,102
9,407 $3,376
127 8,264
115 $2,670
94 6,928 $2,356
$2,153
80 4,893 $1,868
53 62 3,802 $1,188
32 41 2,929 $865$984
2,115
18 1,264 $429$553
12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21
06-22
12-22

12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21
06-22
12-22

12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21
06-22
12-22
Companies CDP Employees Funding ($ millions)

Nearly all the employment increase (818 of 1,004) came from new vendors. The net employment increase
among existing vendors (“organic growth”) was only an estimated 186 employees. This is a six month
growth rate of 1%, the lowest since since the pandemic-induced reduction in the first half of 2020. The
funding increase was more evenly split, with $293 million going to previously-listed vendors and $403
million added for new vendors.

Sources of Growth CDP Employment

83% 79%
66%
87% Organic Growth Rate
54% 60%
51% 51% 42%
38% 37% 41% 31%40% 19% 18%
28%28% 23% 31% 21% 19% 18% 14%
2% 10%
0% 0%
14%
11% 11%
1,233 $1,305 10%10%
1,562 $107 8%
1,264 213 $240 7%
502 920 1,120 602 1,265 $429 $124 $167$400 $188 $747 $403
614 584 538 552 1,053 818 $112 $188$75 $280$58$140 $467 $211$293
237 230 335 589 473 416 23 143 625 186 $12 $44 $36 $226 $62$126 2% 1%
12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21
06-22
12-22

12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21
06-22
12-22

0%
06-20
06-17
12-17
06-18
12-18
06-19
12-19

12-20
06-21
12-21
06-22
12-22

Added CDP Employees Added Funding ($ millions)

Added to Previous Vendors New Vendors % Added from Previous Report Period

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 Customer Data Platform Industry Update: January 2023

Sixty-one companies showed a drop in employment from the previous report period. While this is the
highest-ever absolute number, it is a lower percentage of total firms (38%) than the first half of 2020,
when employment fell at 49% of the firms listed. Similarly, the record 543-employee decline at those
firms was a lower percentage of previous-period employment for all companies (4%) than 378-employee
decline in the first half of 2020 (5%).

Companies with Period-to-Period Drop in Employment

49% 5%
43% 39% 38% 4%
29% 32% 30% 3% 3% 3% 3% 3%
25% 27% 3%
2%
11% 13% 17% 1% 1% 1%

61 543
2 4 7 13 17 34 46 45 37 46 45 10 23 30 98 159 240 378 285 260 362 224
06-21

06-20
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20

12-21
06-22
12-22

06-17
12-17
06-18
12-18
06-19
12-19

12-20
06-21
12-21
06-22
12-22
Companies with Drop Change in CDP Employment at Firms with Drop
Number % of All Companies

The average decline at firms with a drop in employment was 8%, while employment rose by an average
of 9% at all other firms. Firms with an employment drop were on average larger and had grown more
quickly than firms with an employment increase. This suggests those firms overexpanded and were
cutting back in anticipation of a business slowdown.

CDP Change in CDP Funding 3 Year

Number of %
Employment at CDP Employees / Company Employment
Companies Change
Start of Period Employment / Company ($ millions) Growth
Companies with
Drop in 61 6,910 -543 -8% 113 $38 53%
Employment
Companies with
Same or Higher 99 8,183 729 9% 83 $35 27%
Employment

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 Customer Data Platform Industry Update: January 2023

Companies Added

Eleven companies were added during the period, slightly below the long-term average. The new firms
were notably younger than average: six of the eleven (55%) were founded after 2014, compared with 24%
founded after 2014 for the industry as a whole. Similarly, five of the eleven (46%) were analytics or data
CDPs, a pair of categories that make up only 33% of the industry. Eight of the eleven were based outside
the United States. Only two had significant funding.

Added Company Metrics by Period

21 112 $119
18 18 18
87
14 14 70 74
12 12 65 66
11 11 56 53 53
9 9 44 45 46
33 $37
4 $24 $27
$19$22 $16
$8 $14 $6 $4 $7 $13
06-17

12-21

12-22
12-16

12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21
06-22
12-22

12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21

06-22

12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21
06-22
12-22
Companies Added CDP Employees per Added Company Funding ($ millions) per Added
Company

Companies Added in This Report

Year Total Employees Funding
Company Headquarters CDP Type
Founded ($million)
Amplitude United States analytics 2012 829* $312
beBit TECH Taiwan delivery 2015 58 $0
Dataroid United States delivery 2021 48 $0
Fueled.io United States data 2021 6 $0
Ikue UK data 2019 7 $3
Loyal.guru Spain campaign 2016 107 $12
Mobio Vietnam Vietnam delivery 2017 27 $0
Ometria UK delivery 2013 144 $72
Terragon Nigeria data 2009 95 $5
Vibetrace UK delivery 2011 1 $0
VWO India analytics 2009 242 $0
* includes non-CDP employees

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 Customer Data Platform Industry Update: January 2023

CDP Types

Share by CDP Type

9% 9% 4%
20%17%16%23%23%27%27%28%28% 13%15%15%17%17%19%20%
31%32% 22%20%17%24%25%28%28%30%31% 28%26%
36%36% 42% 44%
50% 45% 43%
41% 48%
50% 41%43%44%
38%43%45% 45%47%43%45%
49%49%48%45%44%41%43%39%39% 45%46%42%43%41% 39%42%
38%36% 41%39%38%
38% 31%
28% 39%35% 30%
32%24%23%25%19% 19%17%
28% 26%24%24% 20% 17%16%
22%25%26%23%22%21%20%21%21%20%20% 19%18%17%16%16%16%14%15% 12%16%
22% 15%15%13%13%13%12%11%13%12%13%12%11%11% 19%15%22%19%16%20%17%19%19%15%16%12%11%
13%10% 9% 10%10%11%11%11%12%12%12%13%
12-21

06-20
12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21

06-22
12-22

12-16
06-17
12-17
06-18
12-18
06-19
12-19

12-20
06-21
12-21
06-22
12-22

12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21
06-22
12-22
Companies CDP Employees Funding ($ millions)
data analytics campaign delivery

Campaign and delivery CDPs remain the dominant types of vendor in the industry, accounting for a
combined 68% of companies, 74% of employment, and 73% of funding. These shares have been relatively
stable for the past few reports, although campaign CDPs have steadily lost ground to delivery CDPs.

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 Customer Data Platform Industry Update: January 2023

Year Founded

Vendors founded after 2014 now make up nearly one-quarter of the industry. However, they are smaller
and have less funding than older businesses. Companies founded in 2013 and 2014 account for 25% of
firms, a share that has been shrinking as newer firms appear. While larger than the youngest companies,
they are still smaller than average and have below-average funding. The original core of the industry,
companies founded from 2008 to 2012, has fallen from 44% of companies in 2016 to 27% in the current
report, but still accounts for 42% of employment and 54% of funding. The share of companies founded
before 2008 has remained around 25% as older companies continue to enter the industry. These older
firms have roughly average numbers of CDP employees. They show below-average funding, although
their earliest funding may not be captured in this report and some are public firms whose funding is not
included in the report calculations.

Share by Year Founded

0% 2% 5% 5% 4% 4% 7% 6% 8%
13%12% 9% 11%15%14%15%17% 11% 5% 4% 4% 5% 8% 7% 7% 8% 10%10%11%12% 15%17% 12%12%12%12%
22%22%22%24% 15%19%20%18% 19%22%22%17%20%22%
33% 18%21%22%22%22%22%21% 23%22%23%17%19%
28%32%32%31%30%33%30% 21%
28%26%26%26%
25%
61%47%
53%52%52%48%47%43%41%42% 42% 65%61%
44%38% 34%34% 43% 42% 62%62%59%63%58%55%54% 53%
37% 30%30%29%28%26%28%27%27% 54%55% 54%

22%22%20%25%24%25%23%26%27%26%25%26%24% 28%33%24%25%25%26%25%28%29%26%25%26%25%
19%20%13%12%15%16%15%17%15%12% 18%16%
10%
12-21

06-19

12-20
12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21

06-22
12-22

12-16
06-17
12-17
06-18
12-18

12-19
06-20
12-20
06-21
12-21
06-22
12-22

12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20

06-21
12-21
06-22
12-22
Companies CDP Employees Funding ($ millions)
up to 2007 2008 - 2012 2013 - 2014 after 2014

The oldest firms are primarily campaign and delivery CDPs, which usually added CDP capabilities after
their business was established. By contrast, nearly all the data CDPs were founded after 2012 with CDP
as their initial purpose. Firms founded in 2008-2012 tend to be larger and better funded than others,
even for the same CDP type. Younger companies are smaller and have less funding.

Metrics by CDP Type by Year Founded

21 13 138 $100
10 10 112 98 65 $38 $22 $49

15 20 15 11 143 $57
93 89 50 $12 $37 $5
11 9 11 131 54 $66 $19
3 46 32 $15 $4
242 $96
2 3 8 9 48 94 14 $52
$0
up to 2008 - 2013 - after up to 2008 - 2013 - after up to 2008 - 2013 - after
2007 2012 2014 2014 2007 2012 2014 2014 2007 2012 2014 2014
Companies CDP Employees /Company Funding/Company ($ million)
data analytics campaign delivery

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 Customer Data Platform Industry Update: January 2023

Regions

Americas-based firms remain substantially larger and better funded than companies from other regions,
accounting for 46% of companies, 63% of employees, and 83% of funding. After initial growth by APAC
vendors, regional shares have remained largely stable for the past several years.

Share by Region
6% 10% 8% 8% 11% 4% 4% 3% 5% 8% 11%10%11% 5% 3% 3% 2% 7% 6% 6%
15%14%15%17%17%17%18% 23%
14%12%12%14% 18% 16%16%13%10% 9% 12%11%17%13%10%9%8%
33% 32%24%27%25%27%
20% 13%11%10% 8%
34%27%34%34% 29%30%28%26%24%22%23%
38%38%37%37%
37%37%36%36%

77% 72%70%70% 82%75%81%81%84%83%85%82%75% 77%83%83%

67%59%63%58%58% 64% 64%60%60%61%60%64%66%63% 73%
51%47%49%48%46%46%48%46%
06-22

12-16

06-20
12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21

12-22

12-16
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21
06-22
12-22

06-17
12-17
06-18
12-18
06-19
12-19

12-20
06-21
12-21
06-22
12-22
Companies CDP Employees Funding ($ millions)
Americas EMEA APAC

Americas and European

Metrics by Region by CDP Type firms show similar type
135 $90
distributions, while
25 15 14 73 95 $26
$12 APAC firms are more
31 23 130 $50
7 72 66 $7 $28 concentrated among
113 $66
14 15 5 34 74
$6 delivery vendors. APAC
127
9 9 4 48 29
$67
$11 firms are also notably
Americas EMEA APAC Americas EMEA APAC Americas EMEA APAC newer than firms from
Companies CDP Employees Funding/Company ($ other regions.
/Company million)
data analytics campaign delivery Americas firms are
larger on average than
Metrics by Region by Year Founded European and APAC
11 14 10 78 24 44 $58 firms, with the greatest
$3 $4
19 15 8
93 56 69 $43 difference among data
$11 $0
24 205 and analytics vendors
13 6 99 $104
67
$10
$71 and newer companies.
22 16 113 78 79
3 $37 $33
$7
Americas EMEA APAC Americas EMEA APAC Americas funding is
Americas EMEA APAC
Companies CDP Employees much higher
Funding/Company ($ than
/Company million)
European or APAC
up to 2007 2008 - 2012 2013 - 2014 after 2014 vendors across all
categories. Funding is
virtually non-existent for younger APAC firms and for APAC data and analytics vendors.

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 Customer Data Platform Industry Update: January 2023

The United States is home to 75 CDP vendors. Among European companies, the UK, the Netherlands and
France each has nine or more vendors, although their average employment is well under half the U.S.
average and average funding is one-tenth the U.S. level. In APAC, India and Singapore have eleven and
six vendors respectively. These are larger and better-funded than the average European company,
although still about three-quarters the average employment and half the average funding of U.S. firms.

Measures by Country by Region

(United States not to scale)
75 14 10 11
9 6
2 1 1 4 4 3 3 3 2 1 1 1 1 1 1 1 1 1 1 3 2 2 2 2 1 1

10,057 1,194
764 399 648 427 170 191
43 12 16 93 368 123 122 201 214 32 41 67 95 92 66 50 255 32 29 31 157 63 30 15

$5,340 $127 $163 $127$103 $164

$68 $98
$- $- $2 $37 $43 $48 $6 $12 $50 $10 $- $3 $23 $5 $1 $- $- $13 $- $0 $- $- $- $-
Brazil
United States

Canada

France

Nigeria

Israel
Chile

Spain

Denmark
Italy

Greece

Russia
Finland

Vietnam
Australia
Ireland
UK
Netherlands

Poland

Cyprus

India

China
Belgium
Germany

Japan
Lithuania
Switzerland

Sweden

Singapore

New Zealand
Taiwan
South Africa

Americas EMEA APAC

Funding ($ millions) CDP Employees Companies

Data for individual companies shows more clearly the differences in company size and funding by region.
Companies with fewer than 100 employees rarely receive funding, but, above that level, there is little
correlation of funding with company size.

$800 Measures by Company by Region

($ millions)

Each bar is one company

Funding

$600
$400
$200
$0
800
CDP Employoees

600
400
200
0
Americas EMEA APAC

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 Customer Data Platform Industry Update: January 2023

Industry Concentration

The top 25% of CDP vendors, ranked by employment, account for 65% of employees and 81% of funding.
The employee share of the top group has increased slightly in recent periods and the funding share has
increased substantially. The average employee count of the companies in the top 25% is now 238, a figure
that has grown by 70% as the average sizes of other groups have stagnated. As this suggests, larger
companies have grown faster than smaller companies over the past six years. This changed in the most
recent period, when the largest firms grew less slowly than the middle tiers.

Share by Employment Quartile Organic Growth by

Employment Quartile
81% 238
9%

6-Month Change
65% 64%
58%
146
4%
82 2% 2%
22% 22% 21% 70 0% 1%
14% 11% 9% 14% 43 41
6% 3% 6% 1% 16
5% 10
12-19

12-22
12-16
12-17
12-18

12-20
12-21
12-22
12-16
12-17
12-18
12-19
12-20
12-21
12-22
12-16
12-17
12-18
12-19
12-20
12-21
-2%

-6%
Average Since This Period
CDP Employees Funding ($ millions) CDP Employees 12-16
/Company
top 25% 25%-50%
top 25% 25%-50% 50%-75% >75% 50%-75% >75%
CDP Employment Rank CDP Employment Rank

Although the top quarter of companies account for the bulk of the industry, no dominant firms have
emerged. The top five firms account for just 17% of CDP employees and 14% of funding, shares that have
fallen over the years as the number of industry vendors increased. However, the size of the top five has
more than tripled from 146 to 557 average employees between the end of 2016 and 2022 while the
average size of all other firms has not quite doubled. Funding averages $187 million for the top five firms
compared with $33 million for all others.

Share by Employment Rank (Top 5 vs. All Other)

557 $190$187
86% 518
77% 80% 79% 83% 71% 77% 78%
65% 71% 64% 61% 67% 381 412 $125$125
58%
42% 282
35% 29% 36% 39% 33% 206 $68 $79
23% 20% 21% 17% 29% 23% 22% 146 $55
14% 71 80 $33
41 53 61 66 69 $12 $15 $14 $17 $17 $23
12-18

12-17
12-16
12-17

12-19
12-20
12-21
12-22
12-16
12-17
12-18
12-19
12-20
12-21
12-22
12-16

12-18
12-19
12-20
12-21
12-22
12-16
12-17
12-18
12-19
12-20
12-21
12-22

CDP Employees Funding ($ millions) CDP Employees /Company Funding/Company ($

million)
Top 5 All other

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 Customer Data Platform Industry Update: January 2023

Funding

Funding by Amount Raised

$117
6
7
8 5 $153
4 7 6 $106 $670
3 $41
5 5 5 $38
4
2
4
2 3 3 $137 $230 $129 $13 $314 $175$255
1 1 1 $32 $64 $82 $56 $50 $66 $116
- - - - $- $- $- $-

12-21
06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21

06-22
12-22

06-17
12-17
06-18
12-18
06-19
12-19
06-20
12-20
06-21
12-21
06-22
12-22
Number of Events Amount Raised ($ millions)
Over $50 million Under $50 million

Industry firms raised $296 million during this period. CleverTap and Klaviyo both raised $100 million or
more while Cordial raised $50 million. The remaining $41 million was spread among five vendors.
Although the total was below figures for 2021, it is still the fourth-highest on record, suggesting that
funding remained reasonably available during this period.

Funding Events
Amount Total Year
Company Date Event Headquarters CDP Type Employees
(millions) Funding Founded

CleverTap 8/10/2022 Series D $105.0 $181.6 United States campaign 2013 532*
Klaviyo 8/2/2022 Secondary $100.0 $778.5 United States delivery 2012 1648*
Cordial 7/26/2022 Series C $50.0 $73.6 United States delivery 2014 164*
Bloomreach 10/4/2022 Debt $30.0 $452.0 United States delivery 2015 1,013
mediarithmics 1/3/2023 Venture $6.9 $21.3 France campaign 2013 61
Ikue 11/9/2022 Seed $2.8 $2.8 UK data 2019 7
Transitiv 9/19/2022 Seed $0.7 $2.4 United States campaign 2016 16
Fueled.io 8/4/2022 Pre-Seed $0.2 $0.2 United States data 2021 6

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 Customer Data Platform Industry Update: January 2023

Acquisitions

There were no CDP acquisitions during the report period. The table below lists two acquisitions that
occurred in the first half of 2022 but were not reported in that period’s report. Analytics CDP Velocidi was
purchased for an unannounced price by Kevel, an adtech platform. Campaign CDP ContactLab was
acquired by messaging vendor Growens.

Ownership Events
Buyer/ Amount Funding Year
Company Date Event Headquarters CDP Type Employees*
Partner (millions) (millions) Founded
Velocidi 6/28/22 Acquisition Kevel Unknown $12.0 United States analytics 2009 22
ContactLab 4/05/22 Acquisition Growens $7.2 $4.8 Italy campaign 1998 82
* estimated pre-event employment

Acquisitions made by CDP vendors during this period include:

• Optimove purchased Graphyte (personalized recommendations) in July 2022.

• mParticle purchased Vidora (AI-based predictive models) in August 2022.
• Appier purchased Woopra (journey analytics) in October 2022.
• Klaviyo purchased Napkin.io (browser-based development) in November 2022.

No CDP vendors ceased to do business during the period of this report.

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 Customer Data Platform Industry Update: January 2023

Appendix – Vendor Summary

Company Report HQ CDP Type Year Total Funding

Added Region Founded Employees ($million)
Acquia CDP 12-16 Americas campaign 2006 1,079* $41
ActionIQ 06-17 Americas campaign 2014 204 $145
Actium Health (was
45 $35
SymphonyRM) 12-19 Americas delivery 2014
Adabra 12-21 EMEA campaign 2011 18 $1
Adobe Real-Time
34,955* $0
CDP 06-20 Americas delivery 1982
Algonomy 06-19 APAC delivery 2003 398* $98
Alterian 06-18 Americas campaign 1997 56 $0
Amperity 06-17 Americas analytics 2016 373 $187
Amplitude 12-22 Americas analytics 2012 829* $312
Antsomi 06-20 APAC delivery 2017 45 $0
Appier 12-20 APAC campaign 2012 665* $164
Aptania 06-21 EMEA data 2016 1 $0
Ascent360 12-17 Americas campaign 2014 38 $8
Audiens 12-18 EMEA analytics 2015 22 $10
beBit TECH 12-22 APAC delivery 2015 58 $0
Bloomreach 06-19 Americas delivery 2015 1,013* $452
BlueConic 12-16 Americas campaign 2010 176 $27
Blueshift 06-17 Americas campaign 2014 141 $65
Bridg 12-18 Americas delivery 2012 51 $11
Buyer Genomics 06-20 Americas delivery 2010 5 $0
Cadenz.ai 12-19 APAC analytics 2014 64 $0
CaliberMind 06-17 Americas campaign 2015 41 $14
Capillary 06-21 APAC delivery 2008 955* $102
Celebrus 06-18 EMEA data 1999 130* $0
Cendyn 12-20 Americas delivery 2001 499* $0
Cheetah Digital 06-20 Americas delivery 1998 786* $9
CleverData 12-19 EMEA data 2014 32 $0
CleverTap 06-19 Americas campaign 2013 532* $182
Clutch 06-20 Americas delivery 2012 61 $25
Coginiti (was Aginity) 12-16 Americas analytics 2005 41 $32
Commanders Act 12-16 EMEA analytics 2010 61 $10
Conjura 06-19 EMEA analytics 2016 60 $16
Conscia.ai 06-21 Americas campaign 2016 16 $2
ContactLab 06-18 EMEA campaign 1998 163* $5

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 Customer Data Platform Industry Update: January 2023

Company Report HQ CDP Type Year Total Funding

Added Region Founded Employees ($million)
Convertlab 12-20 APAC delivery 2015 116 $0
Cordial 12-20 Americas delivery 2014 164 $74
CrossEngage 06-17 EMEA campaign 2015 65 $15
CSG 06-22 Americas delivery 2013 5,870* $4
Custobar 06-19 EMEA delivery 2014 29 $0
CustoCentrix /
15 $0
Freedelity 12-19 EMEA delivery 2012
CustomerLabs 12-19 APAC analytics 2013 31 $0
Data Talks 06-20 EMEA analytics 2014 50 $0
Dataroid 12-22 Americas delivery 2021 48 $0
Datatrics/Growens 12-18 EMEA campaign 2012 31 $0
Decide.AI 12-20 EMEA analytics 2019 13 $0
Dengage 06-21 EMEA delivery 2018 63 $0
Dun & Bradstreet 12-18 Americas campaign 2006 5,462* $65
Easyence (was
68 $6
Ysance) 06-17 EMEA analytics 2005
Entytle 06-22 Americas data 2014 74 $11
Epsilon PeopleCloud 06-22 Americas delivery 1969 8,853* $0
Eulerian
29 $6
Technologies 12-16 EMEA analytics 2002
Everrise 12-18 APAC data 2006 59 $0
Exacaster 06-20 EMEA campaign 2011 92 $1
FanThreeSixty 06-18 Americas campaign 2011 47 $0
FirstHive 12-17 APAC campaign 2016 106 $0
Flyde 06-22 EMEA analytics 2021 9 $0
Flytxt 06-19 EMEA campaign 2008 337* $22
Fospha 12-16 EMEA analytics 2014 38 $25
Fueled.io 12-22 Americas data 2021 6 $0
Fulcrum SaaS 06-21 Americas campaign 1999 5 $5
Gainsight 06-19 Americas campaign 2011 1,305* $156
Gamooga 12-17 APAC delivery 2014 33 $0
Group FIO 06-20 Americas delivery 2007 59 $0
Hariken 12-20 Americas campaign 2015 3 $0
Hive 12-20 EMEA campaign 2010 11 $0
Hull.io 12-16 Americas data 2013 43 $5
Hum 06-21 Americas analytics 2020 16 $0
Ikue 12-22 EMEA data 2019 7 $3
Imagino 12-20 EMEA data 2018 27 $0
Informatica 12-18 Americas analytics 2017 6,017* $0

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 Customer Data Platform Industry Update: January 2023

Company Report HQ CDP Type Year Total Funding

Added Region Founded Employees ($million)
inQuba 12-19 EMEA campaign 2010 32 $0
Insider 06-22 Americas delivery 2007 1,160* $0
Insight360 06-17 Americas analytics 2012 1 $0
Intent HQ 06-18 EMEA analytics 2010 106 $11
Invenna 06-18 EMEA campaign 1995 50 $0
iPinYou 06-21 APAC delivery 2008 206* $98
Jahia 06-17 EMEA campaign 2002 67 $23
Journy.io 06-21 EMEA analytics 2019 4 $0
Klaviyo 06-22 Americas delivery 2012 1,648* $779
Knowesis 06-19 APAC campaign 2013 26 $0
LayerFive 06-21 Americas data 2019 11 $0
LeadBoxer 06-18 EMEA analytics 2014 6 $1
Leadspace 12-18 Americas analytics 2011 138 $107
Lemnisk 06-17 APAC campaign 2008 77 $27
Lexer 06-17 APAC delivery 2008 113 $34
Listrak 06-22 Americas delivery 1999 370* $0
Loyal.guru 12-22 EMEA campaign 2016 107 $12
Lytics 12-16 Americas campaign 2012 107 $58
Mapp 12-20 Americas campaign 1998 424* $0
Mastercard
29,913* $97
SessionM 12-17 Americas delivery 2011
mediarithmics 06-19 EMEA campaign 2013 61 $21
Meiro 06-19 APAC data 2018 38 $0
Mercury Healthcare
247 $18
(was Healthgrades) 06-19 Americas delivery 1996
Microsoft Dynamics
365 Customer 227,835* $1
Insights 06-20 Americas campaign 1975
Mindbox 06-19 EMEA delivery 2006 255 $13
Mobio Vietnam 12-22 APAC delivery 2017 27 $0
mParticle 12-16 Americas data 2013 275 $272
n3 Hub 12-19 APAC data 2015 29* $0
Naviga 06-18 Americas delivery 2002 326* $0
NectarOM 12-17 Americas campaign 2014 5 $2
Nessie 06-21 EMEA data 2020 5 $0
Netcore 12-19 APAC delivery 2013 993* $0
NextUser 12-16 Americas campaign 2013 15 $2
NGDATA 12-16 EMEA campaign 2012 69 $47
Nominow 06-17 EMEA campaign 2015 8 $0

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 Customer Data Platform Industry Update: January 2023

Company Report HQ CDP Type Year Total Funding

Added Region Founded Employees ($million)
Np6 06-19 EMEA delivery 1999 68* $0
Numberly 12-19 EMEA campaign 2000 409* $0
Omeda 12-20 Americas campaign 1978 149 $0
Ometria 12-22 EMEA delivery 2013 144 $72
ONEcount 12-17 Americas delivery 1996 15 $0
OpenJaw 12-19 EMEA campaign 2002 180* $0
Openprise 06-20 Americas data 2013 98 $33
Optimizely Zaius 06-17 Americas delivery 2012 1,282* $51
Optimove 12-17 Americas delivery 2009 428 $95
Oracle 06-20 Americas delivery 1977 205,315* $0
Ortto (was
53 $34
AutopilotHQ) 06-21 APAC delivery 2015
Piwik Pro 06-18 EMEA campaign 2013 106 $2
PRDCT 06-18 EMEA analytics 2014 16 $0
Predictable Media 06-21 Americas data 2018 12 $0
ProCampaign by
2 $0
Consultix 06-20 EMEA delivery 1994
Qivos 06-21 EMEA delivery 2004 41 $3
Qualtrics UserMind 06-18 Americas campaign 2013 6,181* $60
Raptor 06-20 EMEA campaign 2013 66 $0
RecoSense 06-21 APAC analytics 2014 20 $0
RedEye 06-17 EMEA delivery 1997 155* $0
Redpoint Global 12-16 Americas campaign 2006 176 $37
Redport
6 $0
Smartbanker 06-21 Americas analytics 2008
Relay42 12-19 EMEA campaign 2010 72 $5
Resulticks 12-19 APAC delivery 2014 219 $0
Retention Science 06-20 Americas analytics 2011 35 $10
Revinate 12-21 Americas campaign 2009 269 $106
Salesforce CDP 12-17 Americas campaign 2010 73,188* $26
SALESmanago CDP &
Marketing 431* $8
Automation 06-22 EMEA delivery 2011
SAP 06-20 EMEA delivery 2000 107,953* $55
SAS 06-20 Americas campaign 1976 16,012* $0
Scal-e 06-19 EMEA delivery 2007 150 $0
Simon Data 12-18 Americas campaign 2014 134 $64
Sitecore CDP (was
2,062* $19
Boxever) 12-16 EMEA campaign 2011

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 Customer Data Platform Industry Update: January 2023

Company Report HQ CDP Type Year Total Funding

Added Region Founded Employees ($million)
SkyPoint 06-20 Americas campaign 2018 105 $9
SmarterHQ
868* $43
(Wunderkind) 12-19 Americas campaign 2010
Solitics 06-22 APAC campaign 2013 30 $0
Squeezely 06-20 EMEA analytics 2016 18 $0
Syntasa 12-19 Americas analytics 2014 37 $0
Tail 12-21 Americas analytics 2012 40 $0
TCS 06-21 APAC delivery 1968 635,679* $0
Tealium 12-16 Americas analytics 2008 706 $264
Teavaro 06-19 EMEA data 2014 34 $0
Terminus CDP 06-17 Americas analytics 2014 25 $7
Terragon 12-22 EMEA data 2009 95 $5
Totango 06-19 Americas campaign 2010 170 $147
Transitiv 06-20 Americas campaign 2016 16 $2
Treasure Data 12-16 Americas campaign 2011 567 $288
Tuple 06-19 APAC analytics 2016 15 $1
Twilio Segment 12-16 Americas data 2011 626 $284
UniFida 12-18 EMEA campaign 2014 8 $0
Unito 12-21 APAC delivery 2020 4 $0
Upland BlueVenn 12-16 EMEA campaign 2013 1,011* $0
Velocidi 06-18 Americas analytics 2009 112* $12
Vemt 12-20 EMEA campaign 2004 7 $0
Vericast QuickPivot 12-17 Americas delivery 2013 84* $0
Vibetrace 12-22 EMEA delivery 2011 1 $0
ViewN 06-20 APAC data 2010 4 $0
VWO 12-22 APAC analytics 2009 242 $0
WhenWhyHow 06-21 EMEA analytics 2017 6 $0
White Rabbit Suite 06-19 EMEA delivery 2015 23 $0
Wondaris 12-20 APAC campaign 2019 4 $0
Xeno 06-22 APAC campaign 2015 84 $2
Xtremepush 06-21 EMEA delivery 2014 81* $31
Yeti Data 12-16 Americas data 2013 2 $1
Zeotap 06-20 EMEA data 2014 193 $92
Zeta 06-22 Americas delivery 2007 1,577* $603
* includes non-CDP employees

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 Customer Data Platform Industry Update: January 2023

About the CDP Institute

The Customer Data Platform Institute provides vendor-neutral information about issues, methods, and
technologies for creating unified, persistent customer databases. Activities include publishing of
educational materials, industry directories, news about industry developments, best practice guides, and
training workshops. For more information, visit www.cdpinstitute.org.

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