Appboy raises $7.6 million in Series A funding for expansion of mobile relationship management platform
Mobile relationship management company Appboy has announced that it has raised $7.6 million in an oversubscribed Series A funding round. The funding will help Appboy build its sales and marketing team, while also allowing the company to expand its toolset and user segmentation technology.
[contextly_sidebar id="32adc17fad1aee6eeba8d57d327719c4"]Appboy has experienced 400 percent growth in the last nine months, now sitting at over 1,000 clients. Its client roster includes Text+, Urban Outfitters, GSN and Bloomberg. Appboy plans to use its funding to expand its reach to different industries in the mobile landscape, including retail, social networking and publishing.
Appboy’s mobile relationship management platform allows marketers to target and engage users across multiple channels, from push-notifications and emails to in-app news feeds and in-app customer support systems.
Developers and marketers can target specific users based on a variety of factors, including the number of times a user has opened an app, whether or not they’ve made in-app purchases, and more recently, where they are geographically located in the real world.
Appboy’s toolset has helped push campaign conversion rates of upwards of 30 percent.
“Engagement is the future of mobile,” said Appboy CEO Mark Ghermezian, in a company statement. “With one of the smartest teams and the most powerful MRM platform in the industry, Appboy is in a leadership position for the coming year. As mobile takes over the world as the first screen, Appboy will be the company that powers mobile relationships.”
The funding round was led by Icon Venture Partners, which was joined by IDG Ventures, and Mike Lazerow, CEO of Buddy Media (now Salesforce Marketing Cloud), among others. More information on Appboy’s growing suite of marketing tools can be found on the company’s website.