MarTech scaleup and Salesforce partner, DESelect, raises $5.5M seed round to expand in the USA
The capital round brings the Belgian-based company to the threshold of reaching US markets thanks to New York-based investment fund
ANTWERP, Belgium, Oct. 28, 2021 /PRNewswire/ -- DESelect, a MarTech scaleup has successfully raised a $5.5 million seed round in less than two years since its incorporation. The funding is aimed to speed up DESelect's global expansion. The official Salesforce partner is specialized in offering marketing data enablement solutions for Salesforce Marketing Cloud. The lead investor of the just-completed capital round is Adjacent, a New York-based investment fund. Federico Larsen, the Co-Founder of Copado which recently announced reaching "unicorn status", as well as the founders of Showpad are among a number angel investors who also joined the round.
DESelect's flagship product, DESelect Segment, helps marketers segment their data in Salesforce Marketing Cloud (SFMC) seamlessly and autonomously with its user-friendly features, which are fully integrated with SFMC. Its flagship product, DESelect Segment, enables marketers to launch campaigns 23% faster and reduce time spent on managing data by 52% on average. Recently, the platform expanded its range of products with DESelect Connect, a code-free solution to integrate external data sources. As well as DESelect Search, a free search engine embedded in the Marketing Cloud to help its users instantly find any object or data extension. Not a long while ago, DESelect announced surpassing an Annual Recurring Revenue (ARR) of €1 million. World-renowned brands such as Volvo Cars Europe, HelloFresh, and T-Mobile are among DESelect's growing list of clients.
Joining the new board of directors is Nico Wittenborn, the founder of Adjacent. He will be joining the DESelect founders, CEO Anthony Lamot and CTO Jonathan van Driessen. Joining DESelect's pre-existing board of advisors, already including founders from companies like Collibra, Showpad, and 4C (now part of Wipro), there is Copado's Federico Larsen. Copado, a Spanish SaaS company that, like DESelect, is a Salesforce partner, announced a capital round that certifies it as a European unicorn just a few weeks ago. Sam Gutmann, the CEO of OwnBackup, a global cloud data protection platform company and Salesforce partner with a valuation of more than $3 billion, will also be a member of DESelect's advisory board.
DESelect's Market Potential
"With the capital injection of $5.5 million, we want to accelerate our international expansion," emphasizes Anthony Lamot, founder and CEO of DESelect. "We are opening an office in Austin, Texas, still this year; earlier than planned. I expect it to be up and running at full speed early next year. We will expand our team significantly in the US and Europe; as we plan to fill dozens of vacancies in order to quadruple our headcount in the coming 12 months or so. In tandem with the recent update from Salesforce, showing that the market potential continues to grow tremendously for Marketing Cloud partners, we see immense growth opportunities for DESelect."
DESelect is not only working on its international expansion but is also fully committed to a multi-product strategy, cites founder and CTO Jonathan Van Driessen. "DESelect Segment, where it all started for us, remains our flagship product. But we noticed that while customers were using the segmentation capabilities extensively, they were far from managing all their data in the Salesforce Marketing Cloud. That's how we came up with the idea of a code-free integration solution that allows marketers to quickly and easily connect other data sources (CMS, CRM, e-commerce, etc.). We aptly titled these solutions DESelect Connect. At the same time, we have further expanded DESelect Search our free search engine which currently has over 2000 downloads and all-5-star ratings in Google's Chrome Webstore"
Nico Wittenborn, Founder of Adjacent: "Salesforce has a fantastic ecosystem: At Insight Partners I came to see its potential through our teams' investments in OwnBackup and Copado, now well-known success stories amongst Salesforce partners. The value DESelect adds for marketers in this ecosystem is clear and taking into account how much the team has achieved with minimal prior funding, I'm really excited to see where they will take it with this investment!"
Federico Larsen, CTO & Co-Founder of Copado: "The Salesforce ecosystem is an attractive marketplace for players who can navigate it smoothly and who understand the needs of the modern consumer. DESelect succeeds in both requirements, and it has the vision and team needed to take the business to the next level."
Sam Gutmann, CEO of OwnBackup: "We understand the Salesforce market thoroughly by protecting their customers' critical data. As such, we got a front-row seat to witness just how important data has become in the tech stack of enterprises, and how much market share awaits conquest. The market is huge, just like the potential for DESelect."
To learn more about how DESelect helped businesses across different industries optimize their SFMC performance, visit DESelect Customer Success Stories.
To book a demo with a DESelect consultant, visit: https://deselect.com/demo/
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