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Segment Closes $64 Million In Funding

From left to right: Calvin French-Owen, Peter Reinhardt and Ilya Volodarsky

Segment, the customer data platform, announced it has raised $64 million in Series C funding led by the Y Combinator Continuity Fund. Existing investors Accel, Thrive Capital, Ron Conway’s SV Angel and NEA also participated in the round.

The investment will be used to enhance product development and continue the growth of Segment’s team to meet new demand from enterprise level businesses, according to the company. The company has received total funding of $109 million since its founding in 2012.

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“Segment sits at the center of the marketing tech ecosystem, and this investment will help accelerate our core platform development as we centralize the data flowing through our platform and expose it in new structured ways,” said Peter Reinhardt, CEO of Segment, in a statement. “We’re just at the beginning of the enormous opportunity to help businesses use their customer data effectively to build better products and experiences.”

As part of the funding round, Y Combinator Partner and former Twitter COO Ali Rowghani will join Segment’s Board of Directors. “Segment is battle-tested, providing customer data infrastructure to some of the world’s biggest brands,” he said in a statement. “They are on a path to be among the most successful Y Combinator companies.”