Iterable raises $60M Series D to expand mainstream brand reach and AI capabilities

Iterable, a San Francisco‑based marketing technology startup founded in 2013, had closed a $50 million Series C round in March 2023. Less than a year later, in early 2024, the company announced a $60 million Series D led by Viking Global Investors, with participation from Index Ventures, CRV, Blue Cloud Ventures, Stereo Capital and Harmony Partners.

CEO Justin Zhu said the round was not driven by immediate cash needs but by a strategy to lock in favorable terms, expand the platform’s AI and data‑governance capabilities, grow the sales and engineering teams in new offices, and win contracts with Fortune 1000 brands that lack modern marketing‑tech stacks.

$60M Series D brings total capital above $140M, funding mainstream brand expansion, AI, data privacy tech, and offices in Denver and London.

Strong investor appetite and favorable market conditions made fundraising attractive.

The leadership wanted to pre‑empt potential market downturns or election‑related volatility.

Additional capital would accelerate product development, AI features, and enterprise sales efforts.

Raising capital during strong market windows—even when not urgently needed—can fortify a startup’s strategic position and fund long‑term growth initiatives.

Following the Series D, Iterable expanded its workforce in Denver and London, deepened its AI‑driven personalization tools, began targeting legacy enterprises for its customer‑relationship‑management platform, and continued to grow its total funding beyond $140 million.