Digital business platform Piano raised $88 million in funding led by existing investor Updata Partners, with additional capital from Rittenhouse Ventures and LinkedIn, according to a Piano press release on Tuesday (May 18).
The analytics, personalization and subscription startup also raised $22 million in a Series B funding round in January 2019, also led by Updata Partners. Since then, Piano acquired the data management platform Cxense, which is based in Norway.
Piano also has advanced revenue by almost 400 percent since its last fundraise two years ago and branched out into the Asia-Pacific region. Additionally, the company acquired France-based analytics platform AT Internet.
“The past two years have been an extraordinary period of growth for Piano as we’ve added new capabilities to our platform and grown into new markets,” said Trevor Kaufman, CEO of Piano. “This funding, and the addition of LinkedIn as a strategic investor, will help us continue investing in the best technology and world-class talent, enabling our clients to create compelling, data-driven customer experiences.”
Scott Roberts, vice president and head of Business Development at LinkedIn said, “As we work to surface high-quality content and conversations as a strategy to increase user growth and engagement, Piano’s leadership in the content commerce space makes them a natural, strategic investment opportunity.” Roberts added, “We know publishers are increasingly seeing referral traffic from LinkedIn fuel subscription sign-ups, and we only see this growing as we partner more closely with Piano.”
Payments personalization is central to offering consumers what they want based on preferences instead of a standardized approach, Kaufman said in a PYMNTS interview. Personalized offerings can gauge whether consumers prefer to pay by the month, by the piece, or something else entirely different.