FirstHive Secures Investment in Latest Funding Round

SAN JOSE, Calif.,, April 26, 2024 /PRNewswire/ -- 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. Notably, existing investors Mela Ventures and angel investor, Amit Midha, also participated in the recently closed round of funding. This round marks a new chapter for FirstHive as it expands in the U.S. and aims to revolutionize customer engagement for enterprises worldwide.

FirstHive was founded in 2019 by Aditya Bhamidipaty with the goal of providing modern enterprises with a single source of intelligence to unravel customer identity and streamline data within enterprises' marketing and analytics ecosystems. The company has quickly emerged as a leader in the CDP space, empowering brands to create deeply personalized customer experiences and drive meaningful engagement across channels.

"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."

"Saama is thrilled to lead the latest investment round in FirstHive," noted Partner at Saama, Hemant Asher. "Our confidence in FirstHive stems from four key factors: the growing importance of first-party customer data for B2C and B2B brands, FirstHive's proven track record with global enterprises, the platform's ability to compete and win against respected global competitors, and the leadership team's demonstrated maturity and results. We believe FirstHive is well-positioned for continued success."

"In a cookieless world, CDPs have become indispensable for enterprises looking to embrace generative AI," commented General Partner at BGV Yashwanth Hemaraj. "FirstHive leverages first-party data to create deeply personalized experiences, turning the absence of third-party cookies into an opportunity for more meaningful customer engagement, automating decisions, and personalizing marketing. At BGV, we are excited to back Enterprise 4.0 startups that leverage AI, Automation, and Unique datasets to drive massive value creation with global enterprises."

FirstHive was previously backed by Arka Venture Labs, New Wave Partners (VA, US), InfoEdge Ventures (India AIF), Mela Ventures, and angel investor Amit Midha, CEO, Alat.

About FirstHive

FirstHive, a premier global Customer Data Platform, is a tool for consumer marketing enterprises to consolidate all their opt-in first-party consumer data. Once deployed, FirstHive becomes the single source of truth of customer identity & data within the enterprise's marketing and analytics ecosystem. FirstHive acts as the brain or system of intelligence by delivering seamless cross-tool & cross-channel communication for the marketing teams and with its out-of-the-box recommendation & assisted decision engine, directly enhances CX and marketing ROI objectives. FirstHive is based in California with operations and customers across the US, India, and ASEAN.

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SOURCE FirstHive