Press release: Drawbridge raises total funding to $70M with participation from Sequoia Capital, Kleiner Perkins, Northgate Capital – One World Identity
Drawbridge, the leading provider of identity resolution solutions, on Monday announced that it has raised an additional $15 million from all of its existing venture capital investors — Sequoia Capital, Kleiner Perkins, and Northgate Capital — to continue to develop cutting-edge identity technology, build new use-cases, further expand its commercial and engineering teams, and become the de facto standard for identity. This brings the total capital raised by Drawbridge to nearly $70 million, including previously unannounced investments from strategic partners.
“This investment demonstrates significant investor confidence in our chosen strategy and path forward as a company,” said Drawbridge Founder & CEO, Kamakshi Sivaramakrishnan. “This commitment gives us further energy to realize the mission ahead of us – to build and democratize identity solutions so businesses can better understand their customers and deliver more personalized and secure experiences.”
Drawbridge uses large-scale and patented AI and machine learning technologies paired with advanced graph theory to build identity solutions that have revolutionized digital advertising, personalization, content management, product recommendation, authentication, fraud and risk detection, and more. The company has experienced tremendous interest and growth in its data licensing business for its Identity Graph, including a 250 percent increase in ARR year-over-year, and was recently named to CNBC’s annual Disruptor 50 list of companies who have the potential to disrupt multibillion-dollar industries for the second year in a row.
A recent report from Winterberry Group and the DMA found that marketers are intensifying their focus and investment into identity resolution, management, and activation solutions – to the tune of an expected 30 percent CAGR for the next four years, growing to over $2.6 billion by 2022. In line with this industry growth, Drawbridge recently unveiled refreshed branding, including a rebuilt product architecture that reflects a renewed focus on identity. Today the Drawbridge Identity Graph is available via the Drawbridge Identity Platform or on-demand through its RichQuery API service.
The company has also brought on Dave Zinman as its Chief Operating Officer and commercial leader, who has joined the executive team to help drive the direction forward. Zinman brings nearly 25 years of industry experience across various capacities as a previous COO, GM, founder, and CEO.
“Joining Drawbridge was an easy decision – there is clear and measurable value in what the company is building for many industries and applications,” said Zinman, “and it’s great to see such deep support from investors who believe in the value of our solutions and the power of our technology.”