While I’m not one to celebrate fundraising for the sake of fundraising, I’m also one to admit that a growing local company raising a single round of financing that’s north of $50 million is still a bit of a rarity. And therefore, notable, at the very least. So I thought I’d capture the coverage of SheerID’s latest round.
Seeing companies use our platform to successfully recognize these groups made us aware of the tremendous opportunity brands have to win new customers by engaging them not as traditional “segments,” but as members of various consumer tribes. It’s a powerful new way to market to prospects, and the need for it could not be more urgent.
GeekWire: SheerID raises $64M to help marketers offer online deals to students, teachers, military members
The ability to verify specific populations is helpful to marketers who are going after hard-to-reach groups such as college students. Comcast used SheerID to target Gen Z customers for its streaming offerings.
Portland Business Journal: A Portland ID verification company lands $64M
The new funds will help SheerID hire in its marketing, sales and engineering departments. The company also intends to use the capital to boost sales globally and increase the number of groups it can verify.
Portland Business Journal: SheerID CEO talks $64M funding round
Initially, SheerID held off raising venture capital for several years, instead growing with a roster of angel investors until 2015. Now it has raised on a regular basis of roughly two years. However, Weatherly said this latest round starts “a long and fruitful chapter” for the company.
The Oregonian: Portland marketing startup SheerID raises $64 million
That’s a big sum by Portland’s standards and comes amid a revival in Oregon’s tech scene. SheerID said it will use the new investment on its own marketing and sales department, and on engineering.
The new funding comes on the heels of 450% revenue growth over the last three years, which enabled SheerID to hit the rank of 243 in this year’s Deloitte and Touche Fast 500.