Kustomer Raises $60M in Funding Round For R&D, European Office

Cloud-based CRM platform startup Kustomer has raised $60 million in Series E funding in a round led by Coatue with participation from current investors Tiger Global Management and Battery Ventures, bringing its total haul to $173.5 million as it pursues titans Zendesk and Salesforce.

A whopping $181 million of that total has been raised in the past 18 months. Funds will be used for R&D and product development and to launch its first European office in the first quarter of 2020.

“Kustomer’s differentiated, omnichannel approach is fundamentally reshaping the industry standard as trends in customer service continue to shift and consumers seek increasingly personalized interactions with brands,” said Coatue Co-Founder Thomas Laffont in a release. “We look forward to working with Brad and his team as they continue to execute their strategic growth plan.”

Some well-known retail and ecommerce clients of Kustomer include Glossier, Ring, ThirdLove, Rent the Runway, Sweetgreen, Glovo, Away and UNTUCKit.

Most recently, Kustomer added enhanced artificial intelligence and machine learning across its platform, enabling retailers to drive more automated, personalized customer experiences and business processes. And in September, it opened its first EU data center in Dublin to serve its growing international client base.

Going beyond the legacy providers, Kustomer has carved out an omnichannel position. It focuses on capturing not only conversations in traditional modes like phone, email and chat, but also incorporates newer channels such as social media and messaging apps, providing agents with a dashboard view of all interactions with each customer.

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