Funding Round attributes
Piano, a leading digital experience management company, has raised $120 million in total funding, which includes a $75 million senior secured term loan facility and a $45 million Series D investment. The financing was led by Rnway Growth Capital, a provider of growth loans, with the Series D investment led by Updata Partners, a growth equity firm. This funding will allow Piano to further enhance its platform, expand its market presence, and support its ongoing growth initiatives.
Founded in 2010, Piano offers a comprehensive platform designed to help businesses better understand and serve their customers. The platform provides enterprises with tools to identify customer behavior, manage customer journeys, and optimize digital experiences across various channels. Piano’s solution is built on a robust data architecture that operates at massive scale, enabling brands and publishers to achieve revenue growth while ensuring privacy compliance. The company’s offerings help clients seamlessly launch relevant audience experiences while scaling their operations globally.
Piano has established a significant global presence, with offices in over 15 locations worldwide, including Philadelphia, Amsterdam, Paris, Singapore, Berlin, Buenos Aires, New York, and Tokyo. The company serves a diverse range of clients, including major brands, publishers, and businesses across six continents. Piano has garnered recognition as one of the fastest-growing and most innovative technology companies, receiving accolades from organizations like Red Herring, the World Economic Forum, and Deloitte.
The recent funding round underscores the confidence investors have in Piano’s technology and market leadership. Runway Growth Capital, the lead lender in the financing, is excited to support the company’s continued expansion. Jeff Goldrich, Managing Director at Runway, expressed his enthusiasm for working with Piano, noting the company’s strong market position and innovative approach to digital experience management.
Piano’s CEO, Trevor Kaufman, also highlighted the importance of this financing for the company’s growth strategy. He explained that the investment will provide the resources necessary to enhance Piano’s platform further and accelerate its efforts to empower businesses with advanced tools to understand and influence customer behavior. Piano’s goal is to help its clients achieve sustainable revenue growth by offering data-driven insights and customer engagement capabilities.
In addition to the strategic benefits of the funding, the partnership with Runway Growth Capital and Updata Partners reflects the increasing demand for digital experience platforms. As industries continue to recognize the value of understanding and optimizing customer experiences, Piano is well-positioned to lead the market with its comprehensive, AI-powered solutions.
The financing also speaks to the growing interest in the broader digital experience management and customer journey orchestration sectors, where companies are looking for more efficient and effective ways to connect with their customers. With its enhanced platform and expanded market presence, Piano aims to solidify its position as a global leader in these rapidly evolving fields.
In summary, Piano’s $120 million funding round, which combines a senior secured loan facility and Series D investment, will allow the company to continue its mission of delivering innovative digital solutions for customer experience management. With the backing of Runway Growth Capital, Updata Partners, and other investors, Piano is poised to drive further growth and enhance its offerings for clients worldwide.
