Today Tealium, a company that vends enterprise tag management service, announced a $15.6 million Series C round of funding, from Battery Ventures, Presidio Ventures, and Tenaya Ventures. Battery previously led Tealium’s $10.5 million Series B.
To date, the company has raised roughly $27.2 million across three rounds of funding, based on our back-of-envelope math.
When we checked in with Tealium last July, the company had 60 customers. It now claims to have north of 250. For less than a year’s growth, that isn’t too shabby an increase. According to information provided to TNW concerning its funding update, Tealium has seen its non-GAAP revenue rise 245 percent when compared to the same quarter a year ago.
Naturally, given that there is real dollar amount tied to that percentage gain, and that the statistic is non-GAAP, it could mean anything. I’ve included it for context only.
What does Tealium do and what is enterprise tag management? As TNW reported previously:
Tealium works with ‘tag management. ‘ The company’s product is what it calls a ‘universal tag,’ one that can be quickly updated across various locations, such as analytics of PPC search. With Tealium’s ‘IQ’ tag, companies can update their tags from a central location, quickly. This saves times, and likely lowers mistake rates.
In short, Tealium helps companies keep their digital house harmonized.
The company’s Series C timing is all but curious, given that it’s Series B was announced less than 9 months ago. Tealium cited little more than boilerplate in its plans for the fresh capital, stating that the funds would go to help “fuel” its growth.
One interesting note: The company stated that the addition of Presidio Ventures would help it expand into the Asia-Pacific region.
Top Image Credit: Charles Davis