Cyance Funding Round (Part II)

Cyance Account-level Intent Insights for first and third-party intent.

(Continued from yesterday’s article)

Cyance’s intent signals are gathered from 55,000 publisher sites and capture 24 billion monthly events.  Six months of trend data are analyzed. Cyance intent monitoring supports six languages: English, French, German, Spanish, Italian, and Dutch, with additional languages planned.  Roughly 40% of signals are gathered from Europe, 40% North America, and 15% AsiaPac.

Cyance already tracks 140,000 intent keywords and allows new custom keywords to be defined for each customer.  Keywords are then mapped to custom topics which reflect each customer’s products, services, and value proposition.  Custom keyword tracking allows for greater granularity and transparency in their intent data and enables the accurate identification of intent signals and custom topics.  Additional global, unified taxonomies are scheduled for a Q3 release.

Our proprietary, highly accurate intent data and ABX platform means our customers’ sales teams have more targeted insights based on the most accurate, geographical data possible at their fingertips.  In this way, we enable better conversions throughout each stage of the sales funnel, as well as helping them to retain and grow their existing accounts. For large organisations seeking to successfully identify and close new clients, having the right data is crucial.  Other intent data providers on the market today simply aren’t capable of providing sales teams a fully customisable view into what their prospects and clients are searching for in large-scale enterprise IT solutions.  At Cyance, we fill the gap in the market for European buyers seeking regional intent data that provides highly accurate, GDPR compliant insights into user intent.”

Cyance CEO Bulent Osman

Cyance has firmographic information for 100 million companies and locations (along with linkage for rolling up intent) and intent signals for 40 to 50 million global companies.  Firmographic information is supplemented by technographics and GDPR-compliant contact data licensed from a well-regarded European vendor.

Cyance supports both FIT (Firmographic, Intent, and Technographic) and TCR (Timing, Context, and Relevance) models.  FIT models combine an Ideal Customer Profile (ICP) with behavioral account scores that trend intent over time, looking for spikes in activity.  To simplify intent data for sales reps, they employ a semaphore (colored light) display system. 

TCR analyzes Timing, Context, and Relevance in determining intent:

  • Timing looks at the buying stage of the intent behavior to help improve the prioritization of accounts subject to customer/prospect strategy mode (e.g., acquisition, retention, or expansion).  Cyance weights intent signals that are mapped to a buying stage.
  • Context combines buying stage with the best-fit personae most likely behind the research at each buying stage.
  • Relevance maps all intent signals to customer topics (customer products or value propositions).  This makes it easier for customer teams to translate behavior into best-fit product and content alignment.

TCR maps intent signals to buyer stage (early, mid, late) and value proposition, enabling acquisition and expansion intent to be treated differently than retention intent.  Acquisition and expansion look at current activity vs. baseline for early buyer stage, while retention looks for mid-to-late research signals, indicating an existing customer may be researching competitive solutions. 

Cyance supports integrations with Salesforce, Drift, and HubSpot, with Outreach and Marketo coming soon.  For programmatic, Cyance offers integrations with LinkedIn Campaign Manager, LiveRamp, Avocet, and theTradeDesk.

Cyance’s primary customers are in technology and financial services.  85% of its revenue is generated in Europe and 15% in North America.

Cyance does not disclose its pricing but bases it on the geography licensed and the product tier. Cyance is headquartered in the UK, with remote sales reps on the continent

Cyance Funding Round

Cyance list of accounts with spiking intent.

European third-party intent data vendor Cyance closed on an £860,000 funding round that included existing investors Blackfinch Ventures and Nexus Investments.  The funds will be deployed for ongoing product and market expansion, including enterprise customer expansion in Europe and ABX platform development.

Last year, the firm doubled its headcount, grew revenue by 18%, and raised ACV by 30%.  It also shifted from being an intent data vendor to an ABX platform.  As with many other MarTech vendors, revenue flattened in Q2 of last year and began growing again in the second half of the year.  They have built significant momentum in 2021 and are on pace to nearly double ARR this year.

“The fact that we’ve seen such solid commercial and financial performance over the past 12 months, despite the tough market conditions, demonstrates the appetite for accurate and localised intent data and the enormous potential within this market.  And as businesses start to look beyond the pandemic and the economic recovery gathers pace, we expect demand to increase further.  Taking on this new investment allows us to strengthen our team and further invest in our product.  We’re now perfectly placed to take advantage of these new opportunities and cement our position as the leading ABX platform with unique intent data for European buyers.”

Cyance CEO Bulent Osman

According to CPO Jon Clarke, Cyance is “rapidly building out an ABX platform proposition” that drives better decisioning and aligns sales and marketing teams.  The platform serves both sales and marketing teams, promoting revenue team collaboration, cohesion, and efficiency with a unified versus siloed data platform.

As with other vendors that have recently begun using ABX instead of ABM, Cyance emphasizes account-based programs and processes across the full revenue team and customer life cycle.  ABM has long emphasized sales and marketing alignment, but the bulk of product development has been marketing-centric.  The shift to ABX captures both the broader vision of ABM and a greater emphasis upon the customer experience across the full lifecycle.

“Cyance has transformed account-based marketing by developing and integrating a sophisticated SaaS solution with global, third-party intent data which addresses the needs of the European market,” said Reuben Wilcock, Head of Ventures at Blackfinch Ventures.  “They have demonstrated solid growth from global B2B brands in the last 12 months, despite the challenging times we find ourselves in.  We’re excited to continue supporting Cyance as it helps some of the world’s leading companies to transform their demand generation and account-based marketing programs and achieve more efficient ROI.”

Their January release sports improved intent signal tailoring and segmentation, beefed up technographics, new customer dashboards, and improved service and support.  The platform offers an updated UI, enhanced ICP definition, and buying journey stage identification.


Coverage continues with a discussion of Cyance’s database and intent models.