New York-based Appboy, a provider of a marketing platform to manage customer engagement, has raised a $20 million Series C round of funding led by Battery Ventures. The company said that all previous investors participating. Appboy previously raised about $22.5 million in funding from Accelerator Ventures, Blumberg Capital, Bullpen Capital, IDG Ventures USA, InterWest Partners, Rally Ventures and T5 Capital, according to Thomson Reuters. As part of the latest funding, Neeraj Agrawal, general partner at Battery, has joined the board.
APPBOY RAISES $20 MILLION TO ACCELERATE GROWTH
Battery Ventures Leads Series C Round for Mobile Marketing Leader
NEW YORK – May 4, 2016 – Appboy, the global leader in customer relationship technology for mobile marketers, today announced it has closed a $20 million Series C financing round led by Battery Ventures with all previous investors participating. The company will use the funding to fast-track growth worldwide and further develop products that allow marketers to provide utility, value, and relevance with every customer interaction in our increasingly connected world.
“We evaluated a number of players in this space, and Appboy stood out to us as a front-runner to take on legacy players—a company that has been mobile and focused on CRM from day one,” said Neeraj Agrawal, general partner, Battery Ventures. “Customers, partners, and investors we spoke with about Appboy furthered our belief that the company is a true innovator, and one with a top-notch management team. We are proud to partner with Appboy.”
Appboy has made a number of rapid advancements recently, including securing new customers such as Tinder, Domino’s, and SoundCloud across the globe; expanding its global footprint with a new UK office, EU data center and the addition of EMEA GM Daniel Head; adding key executives from Google, Salesforce, and Quartz (qz.com); and wrapping up its best quarter to date with five consecutive quarters of record bookings and 3X, year-over-year growth in revenue.
“Battery Ventures is an active and very experienced venture capital firm in marketing technology, with investments in SaaS companies Neolane, ExactTarget, Marketo, Sprinklr and others,” said Mark Ghermezian, CEO of Appboy. “Neeraj is an industry thought leader who has led many of those investments and will provide valuable insights to our team; Battery’s backing also validates our model and long-term vision.”
The new financing will continue to accelerate Appboy’s mobile-first leadership position beyond what traditional legacy players offer. In addition, Battery’s Agrawal will join Appboy’s board of directors alongside Doug Pepper (Shasta Ventures) and others. Additionally, Ryan Holmes (Founder & CEO of Hootsuite) remains an advisor and Mike Lazerow (Buddy Media and Golf.com) an investor.
Formed to solve the unique challenges of today’s mobile economy, Appboy is an intelligent customer relationship suite for mobile-first marketers. Our technology empowers brands to build better relationships with their customers through mobile and other digital marketing channels.
Built around holistic profiles that offer a single view of the customer, Appboy’s robust audience segmentation and advanced multichannel messaging system allow brands to create and automate highly personalized lifecycle marketing campaigns in every relevant channel — from push, in-app, and web to email, wearables, and emerging technologies.
Thousands of global marketers worldwide use Appboy to connect with over 420 million active users, with 85 billion real-time events and 2 billion messages processed through our platform each month. Appboy helps brands like Domino’s, Tinder, iHeartMedia, Wallapop, Opera, and SoundCloud to better engage, retain, and monetize their customers. Appboy is venture backed with over 120 employees with offices in New York, San Francisco, and London. Learn more at Appboy.com.
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.