New York, USA-based martech company Stensul raised USD 34.5 million in Series C funding. The round took place on November 30, 2023. Sageview Capital led the financing for the company. Meanwhile, existing investors such as U.S. Venture Partners (USVP), Javelin Venture Partners, Uncork Capital, and Lowercase Capital joined in the financing. Meanwhile, investor Edith Harbaugh, LaunchDarkly’s Executive Chair and Co-founder, also participated in the Series C. So far, the company’s total financing amounts to USD 57 million to date.
Purpose of financing for Stensul
With the latest financing, Stensul seeks to increase investment in product development. It also seeks to fund its efforts towards deepening AI capabilities launched earlier this year. In addition, Stensul also plans to accelerate adoption within enterprise organizations, where the opportunity for transformation has proven to be the greatest.
As part of the deal, Jake Colognesi, Partner at Sageview Capital, joins the company’s board.
What the company’s official has to add
Noah Dinkin, Stensul’s Founder and CEO, said, “This funding round speaks to the value we’re creating and the massive opportunity ahead of us. Our talented team has done an amazing job bringing Stensul to ‘must-have’ status for some of the most admired companies in the world. It’s only a matter of time until every company’s marketing team moves away from their slow and painful processes, and we can’t wait to be the catalyst to make that happen.”
He further added, “We’re seeing an increasing amount of interest from leaders looking to rethink how their marketing organizations work across people, process, and technology. For the last year and a half, all over the country, we’ve had a lot of fun bringing people together in smaller group settings to share their transformation journeys. In 2024, we’re going to hold the inaugural Stensul Summit™, bringing all of these people together in one place. And in typical Stensul events fashion, it’s going to be a lot of fun.”
What the investors have to comment
Jake Colognesi, Partner at Sageview Capital, said, “The feedback we heard during diligence regarding Stensul’s Marketing Creation Platform was overwhelmingly positive across the board. Stensul is streamlining the way large marketing teams work across all industries – from an unnecessarily complex, time-consuming, and costly process to an easy, efficient, and ultimately more effective process. Sageview is thrilled to invest in Stensul and support the company through an exciting stage of growth.”
About the company
Noah Dinkin in 2016 launched the company. Stensul reduces marketing creation time – by up to 90%, so teams can better focus on improving marketing performance. Stensul streamlines the collaboration process and simplifies marketing asset creation for all marketers so they can create high-performing campaigns that drive stronger results.
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