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Iterable Revenue, Valuation, Funding & Investors
Iterable is valued at $2B as of June 2021, a 10.0x multiple on its last reported $200M revenue.
Last Iterable valuation
$2B
Series E · Jun 2021
Last Iterable funding round
$200M
Series E · Jun 2021
Iterable revenue
$200M
Series E · Jun 2021
Key investors in Iterable
CRV
Index Ventures
645 Ventures
AngelPad
Blue Cloud Ventures
Viking Global Investors
About Iterable
Iterable is a San Francisco-based marketing platform, founded in 2013, that helps enterprises build personalized, cross-channel customer experiences across email, push notifications, SMS, in-app messaging, and other digital channels. The AI-powered platform combines customer insights, analytics, and automation to support brands, including Calm, in engaging more than 3 billion consumers across over 30 countries. Iterable has expanded internationally, including a London office opened to support growth across Europe.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$200M (Jun 2021)
Valuation
$2B (Jun 2021)
Iterable Valuation
Iterable is currently valued at $2B, based on its Series E in June 2021.
The $200M round included Adams Street Partners, Silver Lake, Delta-v Capital, Capital One Ventures, 645 Ventures and 5 other investors.
Iterable's valuation has grown 3.7x from $535M at its Series D in December 2019 to $2B in June 2021, across 2 priced rounds.
Iterable valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2021 | Series E | $2B | 10.0x |
| Dec 2019 | Series D | $535M | - |
Iterable Revenue
Iterable's latest recorded revenue is $200M, as of its Series E in June 2021. At a $2B valuation, that implies a 10.0x revenue multiple.
Iterable revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2021 | $200M | $2B | 10.0x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Iterable Funding History
Iterable has raised a total of $342M across 6 funding rounds.
Iterable's first fundraising round was a $1M seed round in February 2015. The most recent completed round was a $200M Series E in June 2021.
Iterable funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2021 | Series E | Adams Street Partners; Silver Lake; Delta-v Capital; Capital One Ventures; 645 Ventures; DTCP; Glynn Capital Management; Viking Global Investors; CRV; Blue Cloud Ventures | $200M | $2B | Iterable, a San Francisco-based AI-powered marketing platform, enables enterprises to create personalized, cross-channel customer experiences using insights, analytics, and automation. The company powers conversations with over 3 billion consumers globally across more than 30 countries, with strong growth in Europe where its customer base nearly tripled in the prior year. On June 15, 2021, Iterable closed a $200 million Series E funding round at a $2 billion post-money valuation, bringing total funding raised to over $342 million across 10 rounds. New investors Silver Lake, Adams Street Partners, Glynn Capital Management, and DTCP joined returning backers CRV (Charles River Ventures), Viking Global Investors, Blue Cloud Ventures, and Capital One Ventures. Iterable plans to use the proceeds to expand its workforce from 450 to 600 employees by year-end, supporting global growth, innovation, and disruption in the marketing automation market, projected by Forrester to exceed $25 billion by 2023. The platform emphasizes empathy-driven marketing, helping brands like Calm scale customer engagement. Iterable competes in a hot martech sector, alongside firms like MessageBird, ActiveCampaign, and Sprinklr, which also raised large rounds around the same period. |
| Dec 2019 | Series D | Viking Global Investors (lead); Index Ventures; Stereo Capital; Harmony Partners; CRV; Blue Cloud Ventures | $60M | $535M | Iterable is a San Francisco-based SaaS company founded in 2013 by an ex-Twitter engineer, providing a cross-channel growth marketing platform that enables personalized customer interactions via email, push notifications, SMS, in-app messaging, and other digital channels. The platform targets businesses seeking to engage users across multiple touchpoints with data-driven, targeted marketing. As of late 2019, Iterable had expanded into Europe with a London office and focused on scaling operations, product development, and hiring. On December 4 or 10, 2019, Iterable closed a $60 million Series D funding round led by Viking Global Investors, with participation from existing investors CRV, Index Ventures, Blue Cloud Ventures, Harmony Partners, and Stereo Capital. This brought total funding raised to $140 million at the time. Funds were earmarked for international expansion, team growth, and achieving breakeven profitability. Iterable demonstrated strong traction with enterprise adoption, positioning against a marketing automation market projected to exceed $25 billion globally by 2023 per Forrester. The company competed in a crowded SaaS space emphasizing customer engagement and personalization. Subsequent developments include a June 2021 Series E round of $200 million at a $2 billion valuation led by Silver Lake with participation from Adams Street Partners, Glynn Capital, DTCP, and existing investors like CRV and Viking, accelerating omnichannel capabilities and global scaling. Total funding reached approximately $343 million across 10 rounds by 2022, with ongoing growth in employee count to over 500 and unicorn status achieved in 2021. |
| Mar 2019 | Series C | Index Ventures; Stereo Capital; Harmony Partners; CRV; Blue Cloud Ventures | $50M | - | Iterable, founded in 2013, provides a cross-channel engagement platform supporting email, push, SMS, in-app, and other channels to help brands like Zillow, SeatGeek, Box, DoorDash, and others manage customer data and execute personalized marketing campaigns. On March 20, 2019, it raised $50 million in Series C funding from Blue Cloud Ventures, CRV, Harmony Partners, Index Ventures, and Stereo Capital, bringing total funding to $80 million after a $23 million Series B in 2016 led by Index Ventures. The funds were earmarked for product development, international go-to-market expansion into Europe and Asia, and enhancing capabilities for modern marketers ditching legacy systems in the $5.5 billion marketing automation market. At the time, Iterable served 300 customers, reached 2 billion subscribers, and reported triple-digit year-over-year growth. The company positioned itself as a unified platform replacing cobbled-together point solutions, enabling marketers to handle lifecycle management without heavy engineering. It planned new features at its Activate conference in April 2019. Later in December 2019, Iterable raised a $60 million Series D led by Viking Global Investors with participation from Series C backers, totaling over $140 million raised, to expand the platform, invest in engagement technologies, and scale offices in San Francisco, New York, Denver, and London. It added enterprise clients like Priceline, Evernote, Care.com, and Fender, launched Iterable Catalog, and was recognized in Forrester's Q4 2019 Wave for Cross-Channel Campaign Management. Subsequent rounds included Series E in June 2021 at $1.8 billion valuation raising $200 million, reaching $2 billion valuation by 2024 with $342.9 million total funding from investors like Silver Lake and Adams Street Partners. |
| Nov 2016 | Series B | Index Ventures (lead); CRV; AngelPad | $23M | - | Iterable, a San Francisco-based growth marketing platform for B2C companies, enables segmentation and engagement across email, mobile push, SMS, and in-app messages. On approximately December 11-14, 2016, it raised a $23 million Series B round led by Index Ventures, with participation from CRV and other past investors including AngelPad. This followed a Series A less than a year prior, during which recurring revenue grew over 400%. Customers at the time included Zillow, DoorDash, Munchery, and Yelp, with Zillow selecting Iterable as its core marketing CRM. The funding announcement coincided with new in-app messaging features, offered at no extra cost based on consumer messaging volume rather than channels. Iterable planned to invest proceeds in engineering, customer success, sales expansion, and additional marketing channels like potential Facebook Messenger or WhatsApp integration. Email remained the strongest channel. The platform positions itself as a unified solution for cross-channel campaigns, avoiding silos. A $50 million Series C came in March 2019, followed by a $60 million Series D in December 2019 and a $200 million Series E in June 2021 reaching $2 billion valuation. Total funding exceeded $343 million by 2021. |
| Jan 2016 | Series A | CRV (lead); 645 Ventures; Merus Capital; AngelPad | $8M | - | Iterable raised $8 million in Series A funding in January 2016 led by CRV. The company is a cross-channel marketing automation platform that enables marketers to create personalized customer experiences at scale. By December 2016, following a $23 million Series B round led by Index Ventures, Iterable's recurring revenue had grown over 400% since the Series A close. The company counted Zillow, DoorDash, Munchery, and Yelp among its early customer base, with email identified as its strongest marketing channel. |
| Feb 2015 | Seed | Brighter Capital; TSVC; 645 Ventures; Merus Capital; AngelPad; 500 Global | $1M | - | - |
Who has invested in Iterable?
18 investors have backed Iterable across its funding rounds, including CRV, Index Ventures, 645 Ventures, AngelPad, Blue Cloud Ventures and Viking Global Investors.
Lead investors include Viking Global Investors, Index Ventures and CRV.
Iterable Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Jan 2016 | ||
| 3 | Lead | Nov 2016 | ||
| 3 | Participant | Feb 2015 | ||
| 3 | Participant | Feb 2015 | ||
| 3 | Participant | Mar 2019 | ||
| 2 | Participant | Mar 2019 | ||
| 2 | Participant | Feb 2015 | ||
| 2 | Lead | Dec 2019 | ||
| 2 | Participant | Mar 2019 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Feb 2015 | ||
This data is available for Pro users. Sign up to see all 18 Iterable investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialIterable Competitors
Iterable competitors include listed companies like SoundHound and Sprout Social, and private ones like Dialpad, Nextiva, GupShup and Infobip.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $125M | - | $2.3B | 18.0x | ||
| Publicly listed | $169M | $19M | $2.7B | 11.3x | ||
| Private | $250M | - | $2.7B | 10.8x | ||
| Private | $150M | - | $1.4B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $458M | ($31M) | $656M | 1.2x |
Iterable Public Comps
Iterable is still privately-owned, but its public comps include Calix, Marketingforce Management, Sansan, Asana, Weaver Network, Bandwidth, Five9, SoundHound, Sprinklr and Teamviewer.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1B | $38M | 2.0x | 1.8x | 52.9x | 13.6x | |||
| $420M | $22M | 3.8x | 2.7x | 73.4x | 24.4x | |||
| $346M | $67M | 4.3x | 4.2x | 22.3x | 21.9x | |||
| $791M | ($175M) | 2.8x | 2.7x | (12.8x) | 22.8x | |||
| $341M | $43M | 4.4x | 4.2x | 34.6x | 28.3x | |||
| $754M | $39M | 2.7x | 2.3x | 51.2x | 17.3x | |||
| $1.1B | $91M | 2.4x | 2.2x | 30.1x | 9.1x | |||
| $169M | $19M | 14.6x | 11.3x | 132.5x | (35.5x) | |||
This data is available for Pro users. Sign up to see all Iterable competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Iterable
| When was Iterable founded? | Iterable was founded in 2013. |
| Where is Iterable headquartered? | Iterable is headquartered in United States. |
| Is Iterable publicly listed? | No, Iterable is a private, VC-backed company. |
| What is Iterable's valuation? | Iterable was last valued at $2B in its Series E in June 2021. |
| How much funding has Iterable raised? | Iterable has raised $342M across 6 funding rounds. |
| What was Iterable's last funding round? | Iterable's last funding round was a $200M Series E in June 2021. |
| Who are Iterable's investors? | Iterable's investors include CRV, Index Ventures, 645 Ventures, AngelPad, Blue Cloud Ventures, Stereo Capital, Merus Capital, Viking Global Investors, Harmony Partners, Adams Street Partners and 8 others. |
| What is Iterable's revenue? | Iterable's latest recorded revenue is $200M (June 2021). |
| What is Iterable's revenue multiple? | Iterable's latest valuation implies a 10.0x revenue multiple ($2B valuation on $200M of revenue). |
| Which companies are comparable to Iterable? | Companies comparable to Iterable include Dialpad, SoundHound, Nextiva, GupShup, Infobip and Sprout Social. |
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