AnyRoad Raises Funds To Power Data-Driven Experiences
AnyRoad, an Experience Relationship Management (ERM) provider, announced that it closed a $47 million Series B funding round led by funds and accounts managed by BlackRock with participation from Andreessen Horowitz, Runa Capital, and Kaiser Permanente. Existing investors Rally Ventures, Precursor Ventures and Day One Ventures, as well as newcomers Commonfund and Corner Ventures, also […]
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AnyRoad, an Experience Relationship Management (ERM) provider, announced that it closed a $47 million Series B funding round led by funds and accounts managed by BlackRock with participation from Andreessen Horowitz, Runa Capital, and Kaiser Permanente.
Existing investors Rally Ventures, Precursor Ventures and Day One Ventures, as well as newcomers Commonfund and Corner Ventures, also participated in the oversubscribed round.
“We are living in an era in which a majority of consumers prefer to spend their money on experiences versus things. Car ownership is declining. Retail brands are shutting down weekly. Marie Kondo has built a global brand telling us to throw away the hard-earned possessions that no longer bring us joy. ‘Things’ have become commoditised,” said Jonathan Yaffe, co-founder and CEO of AnyRoad.
“The top brands in the world know that their future depends on creating impactful experiences, but understanding customers requires more than just transactional surveys and loyalty programs. AnyRoad is finally helping companies build transformative experiences, grounded in analytics, that capture the hearts of their customers.”
The funding comes during a time of significant growth for AnyRoad. The company tripled top line revenue in 2021, retained 100 per cent of its customers during the pandemic, and signed on new brands at Diageo, Beam Suntory, Unilever, and Anheuser-Busch – all despite the pandemic’s impact on the experiential industry. More than 400 brands delivering 200,000 virtual, in-person or hybrid experiences every month now rely on AnyRoad to optimise their experiential programs and capture meaningful data to forge stronger relationships with consumers.
“More and more brands are using live, virtual, and real life experiences to connect with consumers to build loyalty and grow revenue,” said David Ulevitch, general partner at Andreessen Horowitz. “AnyRoad is uniquely positioned to empower these brands with the technology and insights they need to grow their investment in experiences, whether they are online or in-person.”
AnyRoad will use the financing to support ongoing investment in product development, integrations and go-to-market strategy and plans to significantly scale the product with a focus on hiring talent in data science, engineering, machine learning and other departments.
