Zeta Raises $45m Expansion Fund

New York-based data-driven marketing tech firm Zeta Interactive has raised $45m in new funding, which it will use to grow in the US, UK and internationally, while accelerating its acquisition strategy.

Zeta was founded in 2007 by former Apple Computer CEO John Sculley and David Steinberg, the founder of wireless services firm InPhonic. Originally known as XL Marketing Corporation, it provides cloud-based advanced analytics and machine learning to help clients acquire, retain and grow customer relationships. Last month, the firm acquired Acxiom's cross-channel marketing solutions business Impact, whose capabilities include web site analytics, attribution analysis, predictive modeling, customer segmentation and targeting.

New funding has been led by FS Investments, GSO Capital Partners, Cerberus PNC Senior Loan Fund, and PNC Bank, National Association, and will also be used to integrate Impact's platform. The additional capital comes fourteen months after Zeta raised $120m from a consortium led by FS Investments/Blackstone's GSO Capital Partners LP.

Steinberg comments: 'Deepening our relationship with FS Investments, Blackstone and GSO, as well as adding affiliates of Cerberus and PNC to our financing sources strengthens our balance sheet as we continue to invest in our company's growth. As Zeta drives towards realizing our vision of solving CMOs' biggest challenges by making data actionable at every step of the customer journey, the acquisition of Acxiom Impact gets us there faster'.

Web site: www.zetainteractive.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.