Turkish artificial intelligence-backed marketing platform Insider announced on Friday a fresh funding round of $500 million, with which it seeks to expand its AI solutions and scale talent base as well as geographic footprint.
"Insider, a leading AI-native omnichannel experience and customer engagement platform, announced today a $500 million Series E funding round led by General Atlantic, a leading global growth investor," the company said.
"Insider plans to further develop its next-generation marketing software offering and invest heavily in research and development, focusing on expanding and evolving its AI solutions," it added.
The company also intends to scale its talent base and geographic footprint, leveraging General Atlantic’s global platform, it further noted.
"With an established market position in 28 countries across five continents, including North America, EMEA (Europe, the Middle East and Africa), APAC (Asia-Pacific) and Latin America, Insider plans to increase its regional investments on the back of strong demand in the U.S. market, where it has achieved significant growth."
Moreover, the company said it will use the funds to explore strategic M&A opportunities.
Insider enables brands to deliver personalized customer experiences across digital channels.
The company achieved unicorn status, the term used for a company valued at over $1 billion, in 2022 with a $121 million raise, followed by an additional $105 million in 2023, which increased its valuation to $2 billion.
Hande Çilingir, co-founder and CEO at Insider, said, "As a pioneer of predictive models in customer experience, this funding positions us to further build upon that foundation to disrupt the MarTech industry."
Martech, also known as marketing technology, including marketing software and marketing platforms, is a technology employed in the service of marketing. It is used to create, execute, manage, orchestrate and measure the performance of online and offline content, campaigns and experiences.
"We believe that our differentiators, especially AI-enabled tools, will set Insider apart as the preferred choice for marketing and customer experience teams, and we look forward to leveraging General Atlantic’s deep experience backing growth companies to drive the marketing technology shift," she said.
Insider launched patent-pending Sirius AI, a comprehensive solution for end-to-end omnichannel experience creation, the company also said in the release on funding.
"This funding will help accelerate our ambitious product road map and grow our 350+ in-house engineering team. Over the next two years, we plan to focus on realizing our vision to build an end-to-end AI-native omnichannel experience and customer engagement platform that compounds promotional, transactional, and support capabilities into a seamless solution powered by an extensive set of channels," said Muharrem Derinkok, co-founder and Chief Product Officer at Insider.
Sascha Guenther, managing director and head of DACH at General Atlantic, commented, "Insider has successfully positioned itself as a leading and dynamic innovator in the B2B SaaS space and delivers tangible ROI to its customers."
"We believe the company is well placed to capture a greater share of the $15+ billion total addressable market, as businesses race to upgrade their marketing strategies around the world in need of higher marketing efficiency and effectiveness.”
