CabinetM has released its Q1 2024 MarTech Innovation Report, a quarterly overview of new technology introductions, feature updates, and acquisitions. As a result, we found that martech investment decreased significantly compared to the previous year, while new products etc. increased significantly.
Shift in investment. Investments in martech companies spread across 27 categories and increased significantly from just $699 million in Q4 2023 to $1.8 billion in Q1 2024. However, compared to 2023, martech investments were down by a whopping 87% from his $13.2 billion in the first quarter. In 2023, it was only $1.8 billion, and in the first quarter of 2024, it reached just $1.8 billion. Telegram, a productivity-based company, received more funding than any other company this quarter: $330 million (19% of total funding).
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new product. Looking at new product announcements, there was a significant increase in new products from the previous quarter, with the number jumping to 82 in Q1 2024.
Eyes on AI. Over the past five quarters, CabinetM has tracked and cataloged not only generative AI products, but also other categories and products that leverage AI. In the first quarter, 21 new AI tools were announced.
M&A activities. M&A activity increased in Q1 compared to the previous quarter, with 33 acquisitions compared to 24 in Q4 2023. However, compared to the first quarter of last year, the number of acquisitions decreased slightly by 18% from 40 in the first quarter of 2023. This season, there are 33 people.
The Q1 2024 Martech Innovation Report is not gated and downloading will not result in a mass email or phone call. All CabinetM Martech Innovation Reports can be accessed without gates on LibraryM.
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