By now you’ve probably read about Bynder’s 22 mil Series A round — or maybe you haven’t, because unless you’re in the DAM space, this probably isn’t earth shattering stuff for you. The key takeaway is that this is GREAT news for the maturing Digital Asset Management (DAM) industry.
Validation in the Market
This is the first “big wave” financing event in the Cloud DAM space. Bynder has set the mark for company valuations, and they went BIG. Because of this, valuations increased across the entire industry overnight. For the HBO Silicon Valley fans out there, just as Gavin Belson acquired Endframe for 250 mil, valuing Pied Piper, Bynder’s raise will benefit the rest of the DAM industry.
DAM is Now a Thing
Because of this, we’re also optimistic the days of explaining that “damn” acronym are numbered. DAM is now a critical part of every enterprise marcom budget. And according to industry experts, it will be a 7.5 Billion Dollar market by 2024. This announcement is going to get a lot of eyeballs in the technology space, and if you’re not currently looking into a DAM for your business, chances are, you will be in the next year or so.
We Meet Different Needs
Brandfolder has always been very transparent about the fact that we believe a simpler DAM solution is the best DAM solution. Our full-service asset management platform can be quickly and seamlessly implemented into your company’s workflow.
There are DAMs that thrive on an abundant feature offerings and broadly mapped systems — you won’t find that at Brandfolder. We believe in innovation that makes the features you need better, instead of crafting features that breed new needs. With that belief in simplicity, you’ll find a lighter price tag at Brandfolder as well.
The Next Generation of Brandfolder
Our ability to grow revenue at an unprecedented rate has afforded us advancement in our Product team. The next generation of the Brandfolder platform includes selective and relevant integrations, including those with Slack, Adobe, and Sprinklr, as well as native workflow functionality.
At Brandfolder, we’ve found ourselves in a high growth mode even before our space has fully matured. The next 12 to 18 months may be among the most of exciting of our industry, as rapid growth continues. Brace yourself for a wild ride, we’re grateful to have you with us.