Source Code Capital portfolio company Whale announced the completion of a $50 million Series B funding round. Source Code Capital led the company's Series A round.
Accelerating the digital transformation of future-facing consumer brands across omnichannel marketing.
Whale, an omnichannel digital marketing operations platform, announced the completion of its Series B funding round, raising $50 million. The round was led by Temasek, with continued follow-on investments from existing shareholders NIO Capital, Linear Capital, and Alpha Startups. Silver Oak Capital served as the exclusive financial advisor for this round. Source Code Capital led Whale's Series A round and also continued to invest in its Series A+ round.
Founded in December 2017, Whale starts with omnichannel data collection, leveraging data analytics, artificial intelligence, and large-scale IoT to build Whale Marketing Cloud — an online-offline integrated marketing cloud product that accelerates the digital transformation of future-facing consumer brands in omnichannel marketing.
This funding round will be used to significantly expand Whale's market presence and overseas footprint, while continuing to enhance the product competitiveness of both Whale Marketing Cloud and Whale Open Platform.
On the customer front, Whale's distinctive product advantages have already attracted over a hundred consumer brands and retail giants, including Midea Group, Xibei, Unilever, and Watsons. It has also served as the digital transformation partner behind emerging consumer brands such as Pop Mart and NIO. Operationally, Whale has achieved triple-digit year-over-year growth for three consecutive years. The core team hails from leading domestic and international companies including Facebook, Mininglamp Technology, JD.com, and Xiaomi.
In terms of industry influence, founder and CEO Jerry Ye previously worked at Facebook, where he was responsible for designing and managing the world's largest machine learning data pipelines. He brings deep expertise and hands-on experience in data learning and AI applications, and was recently honored with the "WAIC · Yunfan Award" at the 2021 World Artificial Intelligence Conference. Former Facebook engineer Xie Shukun, who specializes in personalized recommendation systems, event tag prediction in machine learning systems, and distributed model training and inference, serves as Whale's CTO. During his tenure, Xie has been named to both the "2020 Forbes China 30 Under 30" list and the "Elite List of Chinese Youth Under 30 in the United States."
Whale Marketing Cloud focuses on intelligent marketing and sales for consumer and retail brands. By integrating enterprises' online and offline digital marketing systems, it uses data as a productive force to drive marketing automation, enabling precision marketing with reduced costs and improved efficiency. Whale Marketing Cloud comprises six product suites: Marketing Automation Platform, In-store Digitalization, Digital Asset Management, Customer Data Platform, Business Intelligence, and One Digital System — forming a large-scale real-time digital marketing closed loop. Built on cloud-native and low-code capabilities, Whale delivers application services that are easy to use, portable, scalable, and modularly deployable, while opening resources and unifying development standards.
The digital marketing world is built on cloud computing, and cloud-native architecture represents the foundational approach for developing and running applications going forward — with continuous unlocking of cloud computing and big data capabilities at its core, generating ever more business applications. Whale Open Platform provides underlying technical services, enabling rapid integration of edge-cloud hybrid platforms, AI platforms, and data algorithm platforms to help partners quickly establish commercial-grade hybrid cloud operations and management capabilities.
As data protection laws become increasingly stringent, Whale remains committed to technology for good, continuously exploring technical solutions to effectively protect consumer rights. In early September, Whale passed qualification review and public announcement to officially join the National Information Security Standardization Technical Committee. In executing online and offline data services, Whale strictly adheres to legal standards in China, the United States, and Europe — including the Data Security Law, Personal Information Protection Law, and GDPR — safeguarding consumer privacy and data security. Rigorous security measures ensure clients' lawful and compliant use of relevant data. Whale's stringent information security requirements are also reflected in its certifications: it was among the first in the industry to obtain ISO 27001 security certification, and has passed critical assessments including cybersecurity penetration testing and classified cybersecurity protection evaluation.
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