Industry-leading Experience Relationship Management (ERM) solution AnyRoad has announced it has raised $47 million in its recent Series B funding round. The investment was led by BlackRock with additional participation coming from Andreessen Horowitz (a16z), Runa Capital, Kaiser Permanente, Commonfund, and Corner Ventures, as well as existing investors Rally Ventures, Precursor Ventures, and Day One Ventures.
“We are living in an era in which a majority of consumers prefer to spend their money on experiences versus things. Car ownership is declining. Retail brands are shutting down weekly. Marie Kondo has built a global brand telling us to throw away the hard-earned possessions that no longer bring us joy. ‘Things’ have become commoditized,” said Jonathan Yaffe, co-founder and CEO of AnyRoad. “The top brands in the world know that their future depends on creating impactful experiences, but understanding customers requires more than just transactional surveys and loyalty programs. AnyRoad is finally helping companies build transformative experiences, grounded in analytics, that capture the hearts of their customers.”
Research suggests that 81 percent of brands project their event and experiential budgets grow beyond pre-pandemic levels this year. In addition, consumers are now 10 to 15 percent more likely to opt for personalized or higher-quality experiences in the post-pandemic world.
The funding will be used to fuel AnyRoad’s continued growth and experience engagement product innovations. In addition, the funding will help the company develop powerful integrations and a comprehensive go-to-market strategy.
As one of the industry’s first ERM platforms, AnyRoad is designed to help brands use data and insights to build strong relationships with potential customers. The all-in-one solution is used by more than 400 global brands to deliver over 200,000 audience-optimized experiences every month. Top brands such as Budweiser, Honda, Michaels, and Tabasco all trust the platform to support and empower their diverse event strategies.
“More and more brands are using live, virtual, and real life experiences to connect with consumers to build loyalty and grow revenue,” said David Ulevitch, general partner at Andreessen Horowitz. “AnyRoad is uniquely positioned to empower these brands with the technology and insights they need to grow their investment in experiences, whether they are online or in-person.”