GrowthLoop, a San Francisco-based software development company, could consider a sale or acquiring another business, said co-CEO and cofounder David Joosten.

Founded in 2015 as Flywheel Software, the company rebranded in June of this year. About a year earlier, in April 2022, the company, which does not disclose revenue, received its first institutional investment from The Jordan Company (TJC). “We’re proud to have been bootstrapped during the first several years of the company’s history,” Joosten said.

The rebrand reflected GrowthLoop’s shift from a focus on data activation and audience measurement to a growth marketing platform. Now, the company builds audiences and customer journeys based on a client’s own data about its customers. “It’s more similar to a traditional marketing growth platform and tools,” Joosten explained.  The shift in the business model means the company is targeting a much larger market – entire “marketing teams and growth teams,” he said.

Recently, the company launched generative marketing, using generative artificial intelligence in collaboration with marketers.

There could be M&A opportunities for the company given the growing need for marketers to unify email marketing and paid ads, and link these directly to the data cloud and to each other. But the strategy hasn’t been formalized yet and it would likely involve heavy input from TJC, Joosten noted. “There needs to be a bridge between the data cloud (Google Cloud, Databricks, Snowflake, BigQuery) and marketing tools like Adobe and Salesforce,” he said.

He declined to comment on whether GrowthLoop has been receiving interest from suitors but said a decision will come down to whether “the acquirer will help us reach more customers than we can on our own.” As for timing, the company has no immediate plans to sell but is not ruling out that option, he added.

GrowthLoop works with “the Indeeds and Googles of the world,” as well as financial services and media companies. It also serves nine major league baseball teams including the Boston Red Sox, as well as NASCAR; NBA teams; Mercari and the PGA Tour. Although the company was built to serve large enterprises, it is able to serve midsize companies at scale as well, he said.

GrowthLoop, with 75 employees, calls itself the largest player in the “composable marketing tech space.” It builds a marketing stack for clients based on its customers’ own data. The nascent industry is not yet recognized by industry trackers such as Gardner Group, but Joosten predicts this event will be coming.

He projected that several major trends would propel growth in the space in 2024. There will be 50% growth in the data cloud, for one, and Google Chrome and other online ad platforms will stop supporting third-party cookies to track users online.

“The solution to that problem is first-party data,” from the company itself, Joosten said. “We help companies harness that data.”

For example, he said the Red Sox has predictive models on who is likely to buy season tickets so its sales team can target those individuals.

The third trend that will propel the space is generative AI that tracks audience suggestions for the company’s customers as well as content and creative feedback.

“It’s a dialogue connected to audience creation,” said Joosten. GrowthLoop provides this service with a strategic partner, he noted.

Other players in the space include more traditional firms like Simon Data and Lytics as well as composable marketing firms such as Census Data Activation and Hightouch, according to the CEO.

Snell & Wilmer was legal counsel to the company on its investment from TJC.