The new investment round was led by K1, bringing the companyâ€™s total funding to over $20 million
BOSTON, MA â€“ April 8, 2019 â€“ Jebbit, the worldâ€™s leading Declared Data Platform, today announced the closing of a $12 million Series B financing round. The financing round was led by K1 Investment Management (â€œK1â€), with additional participation from Manifest and Yard Ventures. The new funding will support Jebbitâ€™s growing personnel needs and product investment efforts. The company expects to hire additional talent to support operations at its Boston headquarters and in key growth markets including San Francisco, New York and London.
Jebbitâ€™s groundbreaking Declared Data Platform empowers brands to gather explicit first-party data (â€œDeclared Dataâ€) directly from consumers in a world where brands have been relying heavily on inferred sources of first-party data (behavioral, transactional, etc.) and frequently inaccurate and outdated third-party data sources. The SaaS-based platform enables brands to build more accurate, relevant and actionable sets of proprietary data that focus on consumersâ€™ motivations and preferences to create deeper emotional connections. Given the ongoing increase in privacy legislation, it is also ever more critical that brands align their efforts accordingly and gather data with direct consent from the consumer.
According to a study completed by the University of Pennsylvania Annenberg School for Communication, 91% of consumers believe that companies should not access their data without their consent. Despite consumer sentiment and the potential of regulation, however, over $19.2 billion was spent in 2018 on third-party data acquisition and management solutions.
â€œHearing directly from customers is infinitely more valuable and effective than using information we might guess or infer â€“ both in terms of driving ROI and deepening relationships,â€ said Rob Schipul, senior director of customer experience at Monster.com, a user of Jebbitâ€™s technology. â€œThrough our partnership with Jebbit, Declared Data has become central to our marketing strategy.â€
â€œThere is a seismic shift underway in marketing, driven by both consumers and governments who are tired of abuse and are lobbying for greater data transparency and ownership. The need for Declared Data â€“ data provided directly by consumers to brands in exchange for more personalized and valuable experiences â€“ is now,â€ said Tom Coburn, CEO and co-founder of Jebbit. â€œWeâ€™re pushing forward to set the gold standard for honest, consensual and mutually beneficial data sharing.â€
â€œJebbitâ€™s approach to data collection and its Declared Data platform represent a true leap forward for both marketers and consumers, and we are thrilled to be partnering with their team as they push the industry to do what is right,â€ said Tarun Jain, vice president at K1. â€œData transparency is one of the hottest issues facing brands and advertisers, and we are confident that Jebbitâ€™s forward-thinking technologies will prove invaluable to companies navigating the way through new data regulations and practices.â€
Jebbitâ€™s funding also includes notable strategic angel investors including Eric Roza, general manager of Oracle Data Cloud, Jonah Goodhart, former CEO and co-founder of Moat and Charles Jacobs, owner of the Boston Bruins. The companyâ€™s notable list of customers includes the NBA, NFL, Cathay Pacific Airways, and Express, Inc.
Jebbit is the worldâ€™s first declared data platform. Committed to building a world of total data transparency, Jebbitâ€™s mission is to make every experience assumption free by providing consumers with immediate value in exchange for relevant information about their motivations, interests and preferences. Powered by high-converting interactive mobile experiences, Jebbitâ€™s clients, including Boden, Express, Cathay Pacific Airways, Monster Worldwide and the Boston Celtics, use the companyâ€™s platform to better understand and drive revenue from consumers. To learn more visit www.jebbit.com.
K1 is a leading investment firm focusing on high-growth enterprise software companies globally. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position its companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1â€™s investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. Representative past and present portfolio companies include industry leaders such as Apttus, Buildium, Certify, Clarizen, Checkmarx, ChiroTouch, Chrome River, Granicus, IronScales, Jobvite, Litera Microsystems, RFPIO, Smarsh and WorkForce Software. For more information about K1, please visit www.k1capital.com or www.linkedin.com/company/k1im.