The Bottom Line: NewSpring Invests in Cordial
July 26, 2022
NewSpring, a family of private equity strategies, announced today that NewSpring Growth, the Firm’s dedicated growth and expansion strategy, has invested in Cordial. NewSpring led the round with new investor ABS Capital.
Cordial is a cross-channel marketing and data management platform
Cordial is a cross-channel marketing and data management platform for brands to communicate in personal, intelligent ways. In a global marketing automation industry exceeding $8 billion, Cordial is uniquely positioned to lead with its robust, reliable, and innovative platform, which includes native messaging channels and customer data platform capabilities built into its core. Cordial empowers companies to easily and instantly access incredible amounts of first- and zero-party data to engage customers in highly personalized ways across email, SMS, mobile app, and other channels. Cordial clients have witnessed a 250x return on investment by using the platform.
Cordial will use the funds to bolster its product offerings, expand its global team, and redefine marketers’ expectations of cross-channel marketing
Cordial will use this investment to accelerate innovation, launching new platform enhancements that let enterprise marketers create new revenue streams and maximize the value and impact of each customer message. The company will also seek to transform how marketers activate data, setting new precedents for the amount and type of first-party data possible in 1:1 customer engagement. Additionally, the company will continue propelling marketers toward data-first customer engagement, reshaping the category by balancing best-in-class technology with a partnership-focused approach.
“The fundamentals of customer engagement have radically shifted. If marketers are not connecting all of their data to marketing execution they are at a significant disadvantage. Cordial gives marketers the technology and tools to use customer and business data for hyper-personalized messaging in real-time, in one platform. We created Cordial with great intention, building for this new horizon of customer engagement. Cordial gives marketers the ability to use data to engage customers in ways that legacy Marketing Clouds and next-generation providers simply cannot. This new capital allows us to create even more ways for enterprise marketers to deliver outsized value to their customers while continuing to transform our category.”
The company has a growing and diverse roster of clients across a wide range of industries
Agile marketers at companies including Boot Barn, Eddie Bauer, and Forbes trust Cordial to accelerate customer engagement and provide a fresh approach to messaging and real-time data.
“Cordial stands out in its ability to consistently deliver value to marketers in need of a dynamic answer and all-in-one solution for personalization and automation. Cordial offers what other solutions lack in breadth, scalability, and enterprise-grade support, truly partnering with marketers to make the most of their first- and zero-party data. We are excited to partner with Jeremy, Cordial’s leadership team, and our co-investors as the company continues to redefine customer engagement.”
NewSpring will leverage its deep operational expertise to enhance Cordial’s mission
Alongside the investment, NewSpring Growth Partner Brian Kim will join Cordial’s board of directors and ABS Capital Partner Bion Ludwig will serve as an observer on its board of directors. Kim and Ludwig bring extensive operational knowledge and resources to further enhance Cordial's mission to empower marketing teams to create personal relationships with every customer.