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

Iterable Overview

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

United StatesUnited States

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
Iterable valuation by funding round
DateStageValuationRevenue Multiple
Jun 2021Series E$2B10.0x
Dec 2019Series 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

Iterable revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jun 2021$200M$2B10.0xSeries 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

Iterable funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2021Series EAdams Street Partners; Silver Lake; Delta-v Capital; Capital One Ventures; 645 Ventures; DTCP; Glynn Capital Management; Viking Global Investors; CRV; Blue Cloud Ventures$200M$2BIterable, 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 2019Series DViking Global Investors (lead); Index Ventures; Stereo Capital; Harmony Partners; CRV; Blue Cloud Ventures$60M$535MIterable 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 2019Series CIndex 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 2016Series BIndex 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 2016Series ACRV (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 2015SeedBrighter 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

Investors in Iterable by funding rounds participated
InvestorHQRoundsRoleFirst check
CRVUnited StatesUnited States5LeadJan 2016
Index VenturesUnited KingdomLondon3LeadNov 2016
645 VenturesUnited StatesUnited States3ParticipantFeb 2015
AngelPadUnited StatesSan Francisco, CA3ParticipantFeb 2015
Blue Cloud VenturesUnited StatesMiami, FL3ParticipantMar 2019
Stereo CapitalUnited StatesSan Francisco, CA2ParticipantMar 2019
Merus CapitalUnited StatesSan Francisco, CA2ParticipantFeb 2015
Viking Global InvestorsUnited StatesStamford, CT2LeadDec 2019
Harmony PartnersUnited StatesNew York City, NY2ParticipantMar 2019
Adams Street PartnersUnited StatesChicago, IL1ParticipantJun 2021
Silver LakeUnited StatesSan Francisco, CA1ParticipantJun 2021
Delta-v CapitalUnited StatesBoulder, CO1ParticipantJun 2021
Brighter CapitalUnited StatesSan Jose, CA1ParticipantFeb 2015

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Iterable Competitors

Iterable competitors include listed companies like SoundHound and Sprout Social, and private ones like Dialpad, Nextiva, GupShup and Infobip.

Public and private companies comparable to Iterable
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
DialpadUnited StatesSan Francisco, CAPrivate$125M-$2.3B18.0x
SoundHoundUnited StatesUnited StatesPublicly listed$169M$19M$2.7B11.3x
NextivaUnited StatesPhoenix, AZPrivate$250M-$2.7B10.8x
GupShupUnited StatesSan Francisco, CAPrivate$150M-$1.4B-
InfobipCroatiaVodnjanPrivate--$1B-
Sprout SocialUnited StatesUnited StatesPublicly listed$458M($31M)$656M1.2x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Calix$1B$38M2.0x1.8x52.9x13.6x
Marketingforce Management$420M$22M3.8x2.7x73.4x24.4x
Sansan$346M$67M4.3x4.2x22.3x21.9x
Asana$791M($175M)2.8x2.7x(12.8x)22.8x
Weaver Network$341M$43M4.4x4.2x34.6x28.3x
Bandwidth$754M$39M2.7x2.3x51.2x17.3x
Five9$1.1B$91M2.4x2.2x30.1x9.1x
SoundHound$169M$19M14.6x11.3x132.5x(35.5x)

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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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