Tealium has received $20 million in new financing from Silver Lake Waterman. The San Diego-based startup will use the capital to grow all its business units, including engineering, sales, customer service, and marketing. Tealium makes a tag management system that captures clean data streams for enterprise marketers doing analytics on websites, mobile sites, and mobile apps. This lets companies manage all their vendor tags using a drag-and-drop interface and edit tags without requiring additional IT resources.
Its latest financing brings the total Tealium has raised to date to $47.5 million. Its previous investors include Battery Ventures and Tenaya Capital.
In a statement, Telium CEO Jeff Lunsford said that about $1.5 trillion is spent annually on global marketing and communications, and that $130 billion of that amount is used for marketing technology.
The company also released several figures for its 1Q2014 performance. It claimed 120% revenue growth, as well as 100% growth in the amount of enterprise customers using its product worldwide. These include Calendars.com, Carhartt, Kabbage, Kimberly-Clark, Mason Companies, Solstice Sunglasses, Wet Seal, Wine.com, and several semiconductor chip manufacturers.
In a statement, Silver Lake Waterman managing director and co-head Shawn O’Neill said, “We are pleased to be supporting Tealium’s global expansion efforts. Enterprises will continue to invest heavily in technologies that improve their customers’ experiences across all digital touch points, and we see Tealium as the market leader in the space.”