Customer Data Platform, FirstHive Receives Funding from Mela Ventures to Accelerate Global Growth
FirstHive aims to expand its global presence in the B2C Enterprise market across various geographies, as it continues to dominate the CDP space in India and SEA
The funding validates the customer and investor confidence in the need for CDP across various industry verticals
BANGALORE, India, Feb. 2, 2022 /PRNewswire/ — FirstHive, a Customer Data Platform, today announced a new round of funding led by India based VC Mela Ventures. With this investment, FirstHive continues to invest in existing geographies while it expands its global presence across various geographies (including India, North America, Middle East and SEA) in the B2C large enterprise marketplace. FirstHive will continue to drive innovations in its product offerings.
FirstHive, founded in 2016, became the world’s first Customer Data Platform to deliver on the true vision of providing enterprises with a single source of intelligence that can build unified customer identities & streamline data usage across the enterprise’s marketing and analytics stack. FirstHive has won numerous awards and recognitions on the back of its features & customer ROI delivered.
Arka Ventures (Palo Alto; Blume, BGV, Emergent VC), New Wave Partners (VA, US), InfoEdge Ventures (India AIF) and leading angel investors like Amit Midha (President of Dell Technologies, APAC) have backed FirstHive.
Aditya Bhamidipaty, Founder and CEO, FirstHive, said, “I am very excited about this investment from Mela Ventures. With Krishnakumar Natarajan, Managing Director, Mela Ventures joining the FirstHive board, we are strengthening our capabilities for global growth. The leaders backing Mela have built a global, billion-dollar business – their mentorship will be invaluable as we make plans to continue to dominate certain market segments while aiming to establish a foothold in newer regions. The investment will also allow us to add key talent to our incredible team at this critical stage of our growth.”
Krishnakumar Natarajan, Managing Partner, Mela Ventures, said, “There is a pressing need for an intelligent Customer Data Platform to address the fundamental shifts in consumer behavior, increased focus by brands on providing 360-degree CX both online and offline, and ever-changing data privacy laws. FirstHive has already made great strides in this space by recording over a billion customer touchpoints. We see great potential in ‘Team FirstHive’ to build a world-class Enterprise SaaS company and we are thrilled to be partnering with Aditya and his team through our investment.”
About FirstHive:
FirstHive (FirstHive.com) is a premier global Customer Data Platform for consumer marketing enterprises to consolidate all their opt-in first-party consumer data. Once deployed, FirstHive becomes the single source of truth for customer identity & data within the enterprise’s marketing and analytics ecosystem. FirstHive acts as the central brain or system of intelligence by delivering seamless cross-tool & cross-channel communication for the marketing teams. Additionally, it’s out-of-the-box recommendation & assisted decision engine directly enhances CX and marketing ROI objectives. FirstHive is a California headquartered company with operations and customers across the US, India, and ASEAN.
About Mela Ventures
Mela Ventures Trust is a SEBI-approved AIF Category-2 fund for early stage companies. With a goal to build next-gen entrepreneurs, the fund focuses on building a portfolio in areas, such as AI/ML, AR/VR, IoT, Cloud Migration and Deep Technologies. Mela Ventures was founded by Industry veterans, Krishnakumar Natarajan and Parthasarathy NS who have co-founded Mindtree and taken it from a startup to a multi-billion-dollar market cap enterprise. For more information, visit https://www.melaventures.in/
