AUSTIN, TX, Umbel, a Customer Data Platform, today announced a Series B financing of $20M led by Cielo Private Equity with participation from other new and existing investors.
Umbel has completed its first closing of the Series B round.
This financing will be used to expand the company's sales and marketing efforts in order to capitalize on the untapped market opportunity in data analytics, to accelerate technical innovation and for potential acquisitions.
Lisa Harris, Managing Partner of Cielo Private Equity, is the lead investor and she has joined the Company's Board of Directors. Cielo Private Equity, an investor in high growth private companies, also led the Series B investment in the hybrid cloud software company Gravitant, which was purchased by IBM two weeks ago. Cielo sees Umbel's potential to successfully extend its leadership position in the Sports & Entertainment industries into the highly lucrative Brands space, selling an ROI¬--driven solution into the office of the CMO.
'We hear consistently from CMOs that they recognize the significance of data, but most businesses are scrambling for basic control and ways to leverage it,' Harris said. 'Umbel has the best platform in the industry to drive real outcomes and we are excited about its global potential.'
'We are incredibly excited to have this momentum boost. I have assembled the best leadership team in Austin and am confident that funding and the team combined will allow our business to accelerate and crack open new industries,' said HO Maycotte, founder and CEO of Umbel.
'It is terrific to see new funding options in Austin and I am excited to partner with Cielo, as well as our existing investors, to build this city's next breakout software company,' added Tom Meredith, investor and board member at Umbel.
Umbel is a Customer Data Platform that empowers companies to unify and access their own customer data. Powered by the Digital Genome, Umbel brings together data across silos and marketing execution systems into one unified, beautiful and actionable customer platform. Umbel's vision is to make data the most valuable asset a business can own. Founded in 2010, Umbel is headquartered in Austin, Texas. Visit www.umbel.com to learn more or connect with us on Twitter, Facebook or LinkedIn.
ABOUT CIELO PRIVATE EQUITY
Cielo Private Equity invests in quality companies and real assets that provide capital preservation and current returns or compelling growth opportunities. We leverage our industry relationships and knowledge to capitalize on opportunities that exist in the marketplace. We partner with seasoned and accomplished management teams with proven track records in industries with strong long term fundamentals and positive cyclical timing.
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