SheerID, a Portland, Ore.-based identity marketing company, closed a $64m equity funding round.
The round was led by CVC Growth Partners, which will join SheerID’s board alongside Centana Growth Partners and Voyager Capital. In conjunction with the funding, Jason Glass, Senior Managing Director at CVC Growth Partners, and Doug Behrman, Director at CVC Growth Partners, will join SheerID’s board of directors.
The company intends to use the funds to continue to grow in various areas of the business including marketing, sales, and engineering and expand its platform so companies in all geographies can engage a broad range of consumer tribes related to occupation, interests, causes, and affiliations worldwide.
Founded in 2011 and led by Jake Weatherly, CEO, SheerID provides a platform that allows brands to create offers that honor and recognize an entire consumer tribe, increasing trust and word-of-mouth, and decreasing customer acquisition costs.
With the system, brands identify and acquire consumer tribes – such as the military, students, teachers, and more – with personalized offers, gated by instant verification from a large set of authoritative data worldwide. SheerID instantly verifies customers via 9,000 authoritative data sources and 1.3 billion identity attributes, provides global insights from over 200 of the world’s leading brands; and never shares or sells customer data.
Over the last year, the company has expanded its customer base to include more than 200 customers across a diverse range of Fortune 2000 B2C brands such as Target, Amazon, Lowe’s, Comcast, Google, T-Mobile and Urban Outfitters.