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November 7, 2019
Ashu Garg
I’m excited to announce that Amperity has acquired Foundation Capital portfolio company Custora, to build the next generation of customer data platforms.
When we invested in Custora five years ago, co-founders Corey Pierson and Jon Pospischil had the goal of creating a business-to-consumer version of Salesforce. Their team’s deep expertise in machine learning and customer-lifetime-value analytics, combined with their tremendous passion for making retailers successful, quickly established Custora as a powerful platform for extracting customer insights from large and complex data sets. Today, Custora works with some of the largest retailers in the world, including Uniqlo, Crocs, and Tiffany & Co.
Corey and Jon never lost sight of their original vision—building a B2C CRM—but the missing piece of the puzzle was a system of record for consumer data. This made Custora a perfect match with Amperity’s market-leading customer data platform. Over time, we realized that the two products delivered even more value together than they did on a stand-alone basis. Corey and Amperity co-founder and CEO Kabir Shahani began a conversation about working together, and came to the conclusion that, since the two products worked exceptionally well together and the companies shared a common vision and set of values, combining forces was the natural thing to do.
All of us at Foundation Capital are hugely appreciative of the great work that Corey and Jon have done over the last eight years to build such an impressive, customer-centric business from scratch (“brilliant and passionate” is how Kabir described the Custora team). I’d also like to recognize my partner, Joanne Chen, who worked closely with me on this project over the past five years, and our former partner Anamitra Banerji, who sourced the initial investment for Foundation.
Thank you to all the friends and partners that we’ve made on this journey. This is the end of a hard-fought era, and the start of an even more promising one. Here’s to the greater-together future of Amperity + Custora!