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Based in New York mParticleoffering an artificial intelligence (AI) powered real-time customer data platform (CDP), today announced the expansion of its core product with a new Warehouse Sync capability.
The feature, as the company explained, allows enterprises to ingest customer data directly from their data warehouse instance, saving data teams the cost and time associated with collecting and using the information for personalization and use cases. At this time, the capability is only available for the Snowflake data cloud. Other data platforms, including Google BigQuery, Amazon RedShift and Microsoft Azure, will be supported at a later stage.
What benefits does this change have for businesses?
Since its launch in 2013, mParticle’s CDP has provided enterprises with a single view of the customer with relevant insights and predictions to adjust their marketing, product or customer experience strategies. The solution collects data from various channels in real-time, puts it into actionable form, and then links it to relevant marketing or sales solutions to put that information to use.
Until now, the incorporation phase of the solution relied on an external integration. To synchronize events and user-defined attributes or to migrate and query historical customer data from a warehouse, users had to use the Hightouch platform.
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Now, the company is changing that by enabling traditional reverse ETL flows from data warehouses while providing a complete data infrastructure to support enterprises as the business grows. It instantly unlocks valuable customer data in data warehouses, making it instantly available through more than 300 real-time marketing and customer engagement APIs.
“The cloud data warehouse is an important source of rich customer data that teams should incorporate into their data strategies,” said Michael Katz, CEO and co-founder of mParticle. “The customer data stack and the data engineering stack are starting to converge, which we believe will open up new opportunities for teams of all sizes, and we are excited to expand our offering with this latest feature.”
The growth story of the mParticle customer data platform
Earlier this year, mParticle launched Journeys, a toolkit to collect data from across the customer lifecycle and combine journey analysis, testing and orchestration into one automated workflow.
Meanwhile, in August, it announced the acquisition of Vidora, which provides a platform to help brands predict future user behavior using customer data and use that insights in their marketing tools to take action.
The latest announcement builds on the momentum to expand the capabilities of its platform.
mParticle partners with giants such as NBCUniversal, Burger King, Overstock, JetBlue, Venmo and Airbnb. The company has increased nearly $300 million in total funding, according to Crunchbase.
In addition to the growth of the company, the market segment is also on the rise. Fortune Business Insights forecasts that the global customer data platform market will grow from $1.42 billion in 2022 to $6.94 billion in 2029, with a compound annual growth rate of more than 25%.
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