FirstHive, the leading provider of customer data platform (CDP) solutions, has announced the closing of its latest funding round led by Saama with participation from Benhamou Global Ventures (BGV), Amit Singhal, and Twin Ventures.

“We are incredibly excited to welcome Saama, Benhamou Global Ventures, Amit Singhal and Twin Ventures to the FirstHive family,” said Founder and CEO of FirstHive Aditya Bhamidipaty. “Their support and expertise will be invaluable as we embark on the next phase of our journey. This investment will enable us to expand our presence in the US market, extend platform capabilities, accelerate AI capabilities, and ultimately deliver more value to our customers.”

Early this year, on February 8th, 2024, we celebrated a significant milestone at FirstHive – our 5-year anniversary. In the unpredictable landscape of startups, reaching such a mark is indeed special, as it signifies overcoming numerous “Growing Pains.” According to research by the U.S. Bureau of Labor Statistics, nearly 70% of new businesses fail to reach this milestone.

Reaching this stage is a testament to the hard work and perseverance behind closed doors. What has sustained our growth over the past 5 years is a product – our Customer Data Platform – that remains relevant in today’s marketplace, with its demand growing among businesses of all sizes. Additionally, we have a team of passionate individuals, seasoned operators, and supportive customers who collectively propel the company forward. Throughout our journey, we’ve been supported by individuals and organizations who believed in our vision and were willing to invest in our capabilities.

Guess what? We just got back from an amazing experience at Shoptalk 2024 in Las Vegas, and boy, was it a blast!

Our team, including yours truly, Aditya Bhamidipaty, Founder & CEO of FirstHive, along with Rajendra Penna, Head of Business Development, USA, and Hal Bishop, our account executive, had an incredible time mingling with industry experts, thought leaders, and fellow enthusiasts.

As a marketing leader in your specialized sector, your priorities may span from optimizing “Customer Acquisition Cost” to achieving a holistic “Customer 360 across Phygital channels.” Whether you’re focused on “inventory optimization” through targeted campaigns or delving into “Behavioral segmentation to identify family buying behavior vs personal buying behavior,” we have the expertise to support your goals.

Explore our comprehensive guides showcasing CDP use cases tailored specifically for your retail sector.

HBR: Put Marketing at the Core of Your Growth Strategy

McKinsey research indicates that companies prioritizing marketing as a key growth strategy outperform competitors. Both B2C and B2B firms that rank branding and advertising highly, are twice as likely to achieve revenue growth of 5% or more compared to those that don’t. However, there’s a significant misalignment between CEOs and CMOs regarding marketing’s role, hindering growth potential.

Key Takeaways:

1. Alignment is Key: CEOs and CMOs often have different views on marketing’s role and ROI, leading to misalignment. Defining marketing’s role and creating a measurement framework can align objectives and strategies.
2. Unified Customer Advocacy: Appointing a chief customer advocate ensures cohesive efforts across functions. This role represents the consumer’s voice, thereby help originations align goals across teams to drive growth.
3. CEO as Growth Coach: CEOs should understand modern marketing challenges and coach growth strategies effectively. Investing in learning and supporting CMOs can drive alignment and maximize growth potential.

What is FirstHive Communication Threshold?

The FirstHive Communication Threshold feature empowers marketers to establish limits on the number of communications that an individual, whether a prospect or customer, receives from the brand within a specified timeframe. This functionality provides a crucial mechanism for managing and optimizing communication strategies, ensuring that recipients do not experience communication fatigue or overload.