New York, NY – April 12, 2018 –Today, Velocidi becomes the world’s first private Customer Data Platform (CDP) by acquiring ShiftForward, a leading marketing automation and data platform company. Brands can now protect billions of customers by keeping precious data safely on a private, in-house CDP rather than relying on marketplace platforms on the public cloud.
Velocidi, already a powerful customer data platform, is now enhanced with the integration of ShiftForward’s capabilities. The company’s clients now have greater deployment flexibility, an unmatched level of control over their first-party data, and a time and cost advantage over their competitors. This platform expansion is a compelling market differentiator for any brand that owns and covets first-party customer data and wants to bring it together with external marketing data in real time.
Velocidi now offers a wider and deeper General Data Protection Regulation (GDPR) compliance solution for existing and new clients within the EU. The acquisition demonstrates Velocidi’s commitment to the EU market with the addition of the Portugal-based ShiftForward team buttressed by its Dublin-based EU headquarters.
“The timing could not be better. It is very rare to find an acquisition that can not only bring cutting-edge technology and deep talent, but also market differentiation, expansion and new vertical opportunities. ShiftForward is just that,” said David Dunne, founder and CEO of Velocidi. “Together we bring the market leading private CDP to clients. Marketers have unprecedented volumes of data available to make better marketing decisions, but realizing that promise has been an elusive goal. Velocidi solves this at the very moment when coveting customer marketing data is not only essential but required by regulators.”
The acquisition fulfills Velocidi’s vision of brands becoming masters of their customer marketing data. Velocidi enables any brand to achieve the same level of engagement with their customers as has been achieved by the leading companies in social, search and e-commerce. By becoming experts at managing their customer marketing data, these leaders deliver precisely the right information at the right time, enable engagement and relationships at scale, and deliver virtually any kind of product or service, where, when and how it is needed.
“Integrating our customer event level data process with Velocidi’s marketing data platform is the foundation for the most innovative product in the market today. By joining the Velocidi team we give marketers full control of their data, bringing them closer to their customers and potential customers,” said Paulo Cunha, founder and CEO of ShiftForward, who now becomes Velocidi’s Chief Product Officer. “Today’s marketers need to ingest all types of customer, event-based, media data. Now, they can do just that with Velocidi’s private CDP. We look forward to continuing our outstanding work together for brands and agencies.”
A recent Velocidi customer deployed the platform for six months and recognized a 116 percent increase in ROI with 53 percent decrease in acquisition cost. The newly combined company will benefit both Velocidi and ShiftForward customers, who now gain access to a broader, integrated offering. For instance, ShiftForward customer Adality (a Bertelsmann Company) now can utilize Velocidi’s customer data platform, while Velocidi customer Eagle Point Partners can now take advantage of ShiftForward’s private DMP and ad forecasting solutions.
“We are excited about Paulo and his team joining the Velocidi family. The time is now for brands to take control of their data, since at no greater time in history has the brand to consumer relationship been so threatened by middlemen, intrusive platforms and nefarious actors. Velocidi helps brands that deeply treasure their customers’ private information to build a trusted relationship with those audiences by delivering more timely, relevant and useful information,” commented Neil Callahan of Pilot Growth Equity. “With ShiftForward, Velocidi gives brands the ability to earn and maintain this trust by keeping this precious customer information inside the company – not with third parties. Now brands can protect their own customers while giving them the personalized experience they want by deploying the CDP.”