Medallia Reveals Cooladata Acquisition Price: $7.6 Million
The Israel-based customer behavior analytics startup raised $13 million before Medallia announced its acquisition earlier this month, meaning the acquisition was made at a loss to investors
San Mateo, California-based customer experience company Medallia Inc. has shelled out $7.6 million in cash for Israel-based customer behavior analytics startup Cooladata Ltd., according to documents the former filed Friday with the U.S. Securities and Exchange Commission.
For daily updates, subscribe to our newsletter by clicking here.Founded in 2012, CoolaData develops a cloud-based platform that analyzes data on online user behavior for the e-commerce and gaming industries. The company employs several dozen people in offices in New York, London, and Ramat Gan, a town in the Tel Aviv area.
Cooladata co-founder and CEO Guy Greenberg. Photo: PR
Cooladata raised $13 million to date from investors including Salesforce Ventures, 83North, and Viola Ventures, meaning the acquisition was made at a loss to shareholders.
Medallia announced the acquisition in the beginning of June, confirming earlier reports by Calcalist, but did not disclose the financial terms of the deal. The acquisition was completed on June 17, according to last week’s filing.