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Piano, a subscription, analytics, and content personalization platform for organizations, today announced it has raised $88 million in a round of funding from Updata Partners, LinkedIn, and Rittenhouse Ventures.
Founded in 2010, New York-based Piano has historically worked with significant publishers and media corporations such as the Wall Street Journal, but it also functions with corporations from other industries, which includes Kirin, Deutsche Telekom, and IBM’s The Weather Company.
While The Weather Company traditionally made cash by way of marketing and business partnerships, it not too long ago turned to a subscription income model whereby customers spend an annual charge to take away advertisements and obtain additional perks, such as more granular information.
Subscriptions are especially pertinent at a time when third-party ad tracking cookies are on their way out, which is exactly where Piano comes into play.
“Although we’ve historically worked largely with publishers, many of the same concepts apply to non-media businesses — any company creating a digital experience that they hope to monetize could benefit from Piano’s platform,” a spokesperson told VentureBeat. “With the deprecation of third-party cookies, many digital businesses are looking for alternative revenue models to diversify beyond traditional advertising.”
Piano’s flagship solution is Composer, a platform that lets organizations test and handle experiences based on preconfigured guidelines. Composer ships with numerous templates and tools that work out of the box, enabling web sites to show certain content or calls to action based on time of day and user behavior, amongst other signals.
Personalization is only one aspect of the puzzle even though, as Piano offers subscription management tools spanning paywalls and membership applications and analytics that allow “both macro and micro views of the customer journey.” Powering this is 10 years of benchmark information constructed internally, supported by integrations with third-party tools such as Google Ad Manager, Adobe Audience, Gigya, Stripe, Apple Pay, and more.
Piano had previously raised about $28 million, and its most up-to-date money injection comes amid a flurry of VC activity across the digital subscriptions space, with ReCharge not too long ago raising $277 million for its subscriptions platform for ecommerce corporations, and Bold Commerce securing $27 million earlier this year, shortly soon after Chargebee locked down $55 million.