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New York-based mParticle, which offers an artificial intelligence (AI)-driven 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 directly ingest customer data from their data warehouse instance, enabling data teams to save costs and time associated with gathering and utilizing the information for personalization and use cases. Right now, 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, it said.
How will this change benefit enterprises?
Since its launch in 2013, mParticle’s CDP has been providing enterprises with a single view of the customer with relevant insights and predictions to customize their marketing, product or customer experience strategies. The solution collects data from different channels in real time, puts it into a useful form, and then connects it to relevant marketing or sales solutions to bring that information into use.
Until now, the ingestion phase of the solution depended on a third-party integration. Essentially, in order to sync events and user attributes or migrate historical customer data from a warehouse and query it, users had to use the Hightouch platform.
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Now, the company is changing that, enabling traditional reverse-ETL flows from data warehouses while providing a complete data infrastructure to support enterprises as the business grows. It directly unlocks valuable customer data in data warehouses, making it immediately available across more than 300 real-time marketing and customer engagement APIs.
“The cloud data warehouse is an important source of rich customer data which teams need to incorporate into their data strategies,” said Michael Katz, CEO and cofounder of mParticle. “The customer data stack and the data engineering stack are beginning to converge, which, we believe, will unlock new opportunities for teams of all sizes, and we’re excited to expand our offering with this latest feature.”
The growth story of mParticle customer data platform
Earlier this year, mParticle launched Journeys, a toolkit to gather data from across the customer lifecycle and combine journey analysis, testing and orchestration into a single automated workflow.
Meanwhile, in August, it announced the acquisition of Vidora, which offers a platform to help brands predict future user behavior using customer data and leverage those insights in their marketing tools to take action.
Its latest announcement builds on its momentum to grow the capabilities of its platform.
mParticle works with giants such as NBCUniversal, Burger King, Overstock, JetBlue, Venmo and Airbnb. The company has raised nearly $300 million in total funding, according to Crunchbase.
In addition to the company’s growth, its market sector is also on the rise. Fortune Business Insights predicts that the global customer data platform market will grow from $1.42 billion in 2022 to $6.94 billion by 2029, with a compound annual growth rate of over 25%.
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