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Comcap's 2020 Martech Perspectives

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Comcap's 2020 Martech Perspectives CONFIDENTIAL May 2020 V2 Update Marketing software trends MarTech in a post-pandemic world DISCLAIMER: ComCap LLC make no representation or warranty, express or implied, in relation to the fairness, accuracy, correctness, completeness, or reliability of the information, opinions, or conclusions contained herein. ComCap LLC accepts no liability for any use of these materials. The materials are not intended to be relied upon as advice outside of a paid, approved use and they should not be considered a guarantee of any specific result. Each recipient should consult his or her own accounting, tax, financial, and other professional advisors when considering the scenarios and information provided. CONFIDENTIAL An introduction to ComCap ▪ ComCap is a premier boutique investment bank focused on the intersection of commerce and capital, with key focus on B2B SaaS, B2C e-commerce, payments, mobile commerce, marketplaces and B2B services for retail technologies (IT and marketing services, in-store, fulfillment, logistics, call center, analytics, personalization, location intelligence) ▪ Headquartered in San Francisco with European coverage from London & Moscow, and LATAM coverage from Sao Paulo. Our firm works with mid-cap public companies on buyside initiatives and public and private growth companies on financing and strategic M&A ▪ In addition to being the only boutique focused on disruptive commerce models, we differentiate by: ‒ Bringing bulge bracket techniques to emerging models; ‒ A strong and uncommon buyside/strategy practice; ‒ Deep understanding of industry drivers and synergy analyses; ‒ Deep relationships across the sector; and ‒ Worldwide coverage with closed transactions in the United States, Japan, China, the ASEAN region, Western and Eastern Europe and Latin America ▪ Your global ComCap team: Aron Bohlig Fermin Caro Uren Dhanani Carlos Gonzalez Managing Partner Director Vice President Director M: +1 415-235-8270 M: +1 650-743-7825 M: +1 604-816-4989 M: +7 985-062-9894 E: [email protected] E: [email protected] E: [email protected] E: [email protected] 2 CONFIDENTIAL ComCap – Active in 14 countries, including 9 of the top 10 global ecommerce markets $740.0 $561.0 Retail Ecommerce Sales Worldwide – 2019 ($US b)1 $93.0 $87.0 $77.0 $69.0 $55.0 $44.0 $22.0 $16.0 China US UK Japan Germany South Korea France Canada Australia Brazil 1Source: Shopify Plus Ecommerce Playbook 3 CONFIDENTIAL ComCap’s current thematic focus areas Theme Description Select companies Emerging platforms and providers innovating and optimizing the many facets of the supply Logistics chain ecosystem Digitally native D2C brands harnessing modern technology and business models to reach the B2C and Vertical end consumer, covering clothing, accessories, personal care, home and kitchen, furniture, and Brands (DNVBs) other consumer-focused products Artificial Intelligence / Focus on disruptors in the artificial intelligence space focused on ecommerce, logistics, retail, Analytics predictive, payment, risk and marketing Ecommerce SaaS Emerging and disruptive SaaS businesses in the ecommerce sector Retail and commerce-related disruptors in the fintech universe. Current focus areas include Fintech payments, risk analytics, false declines and retail point-of-sale, especially mobile (mPOS) Emerging platforms in digital marketing, who focus on optimization in digital marketing and Marketing Suites content delivery Focused on mobile solution providers optimizing the mobile experience from desktop-to-mobile Mobile website conversions, targeted mobile marketing, to simplifying the mobile checkout experience Personalization Emerging players in the ecommerce personalization space Retail In-store Platforms and solutions that enable retailers improve customer experience, productivity, and technology operational inefficiencies Agencies and systems Integrators implementing retail focused technology spanning the above Agencies and System sectors, including large SIs covering multiple platforms, as well as smaller SIs covering just one Integrators or a handful of platforms 4 CONFIDENTIAL Marketing Software funding landscape Publically listed companies $1000 $400 $200 $150 $120 $100 Total Funding (IN $M) (IN FundingTotal $80 $60 $40 $20 Customer Data Customer Engagement Digital Experience Marketing Analytics Diversified Acquired Source: Capital IQ, Crunchbase CONFIDENTIAL MarTech – Key themes for 2020 Global MarTech market is expected to grow strongly with higher marketing spending, innovations 1 in digital marketing and an extremely large number of niche market participants 2 Brands reduce, delay or halt spending that negatively impacts the marketers; under high pressure post COVID-19. Increase in focus on digital marketing may ease off the pressure Personalization in MarTech is not optimized yet; stronger evolution of AI / ML 3 suggests there is still major scope for growth 4 What could Retail Personalization in a post-COVID market look like? Spending on MarTech is growing with a strong focus on marketing automation. The 5 marketing automation technology is expected to grow at 14% CAGR from 2017- 2023 Marketing automation is growing deeper and wider due to digitalization of industries, rising 6 internet penetration, and use of mobile devices 7 Global social distancing is making video emerge as the new ‘King of Marketing’: Explosive growth of ZOOM and TikTok 6 CONFIDENTIAL 1 Global MarTech market size estimated to be worth $151.8b Market overview Customer engagement platforms (CEPs) • The global digital marketing software market size is ▪ North America is the largest CEP In $b $27.5 expected to reach $151.8b by 2027, registering a CAGR of market driven by IBM, Microsoft, 17.4% from 2019 to 2027 Nuance Communications, Oracle, • Growth is expected to be driven by on-going innovations in and Salesforce $13.8 digital marketing, and the pandemic, which has boosted ▪ Integration with AI is another ‘virtual’ marketing trend that is becoming a standard offering by vendors • Spending across the different components of MarTech is expected to increase sharply in the coming years, driven 2018 2024 by extensive automation of various marketing functions, and wide usage of AI / ML Digital experience platform (DXP) ▪ Increasing efforts to deliver In $b $13.9 Growth of the MarTech landscape personalized user engagement & UX across multiple marketing $7.9 8,000 channels will drive growth 7,040 ▪ Due to growing demand, solution providers are focusing on 6,289 acquisitions & new product 5,381 development 2019 2024 3,874 Customer data platform (CDP) ▪ The global CDP market is expected to grow from $2.4b in 1,876 2020 to $10.3b by 2025, at a CAGR of 34.0% 947 ▪ The growing adoption of account-based marketing among 150 350 organizations to manage data pertaining to their online and offline customers determines apt marketing strategies to drive growth 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 ▪ In 2018, CDP vendors raised funds over $1.5b and were # of MarTech companies deployed by over ~4,000 enterprises Note: (1) According to Transparency Market Research Market report, “The global smart & mobile supply chain solutions market” 7 Source: MarketWatch, ResearchandMarket, Cision CONFIDENTIAL 1 Key drivers for MarTech growth in the current environment Deepening usage of social media The percentage of US adults who use social media has increased from 5% in 2005 to 79% in 2019. This massive increase is encouraging companies to increase their spending on creating interactive and intuitive digital content for marketing purposes The COVID-19 lockdown The on-going lockdowns have resulted in a sharp increase in the consumption of digital content. As many organizations prepare for a prolonged period of work from home scenario, where both, employees and clients/customers would have to be reached out remotely, the use of several MarTech tools is likely to increase AI / ML going to the next level Wider application of AI and ML is positively impacting the MarTech market, as organizations are emphasizing the adoption of these technologies for improving the customer experience. Newer areas of application include, complaint resolutions, post-sales service, and personalized customer outreach using technologies like AR and VR Marketing Automation Automating various marketing functions allows brands to maintain an omni-channel presence by detecting the most favored channels of a customer and sending personalized messages to only those channels. eMarketer predicts around 86% of digital ads displayed in the US will be programmatic by the end of 2020. It is expected to boost the market growth by using various automation technologies for advertising to achieve higher conversions and lower acquisition costs Video Marketing As per eMarketer, the average time spent per day with digital video in the US is expected grow to slightly more than 2 hours per day in 2020, and increase of 19.4% over 2019, driven by more ‘stay-at-home’ times, newer video platforms, and higher digitization of older TV content. Marketers are therefore likely to shift ad budgets away from TV and websites and toward digital video platforms Sources: Various news articles and press releases 8 CONFIDENTIAL 2 COVID-19 an opportunity driven by a virus, to shift to Digital Marketing Digital marketing will change post COVID-19 MarTech shows 20.7% higher returns over S&P 500 Jan 02, 2020 May 11, 2020, At 108.6 ▪ Increased online audiences and requirements for digital Index Value 100 Martech Index was 20.7% engagements, provides opportunities for
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