First investors in Marketo fuel expansion and accelerate
NEW YORK, Oct. 2, 2014 — Appboy, the leader in Marketing Automation for Apps, announced today it has closed $15 million in an oversubscribed Series B funding round, led by InterWest Partners, the initial investor in Marketo. Existing investors Icon Venture Partners, Blumberg Capital, T5 Capital and IDG Ventures also contributed. InterWest General Partner Doug Pepper will join the Appboy board of directors. As an early investor in Marketo, Pepper has extensive experience working with superior brands in marketing and mobile, including Flurry, Optimizely, Tapjoy and Spredfast. The new round of funding brings the company’s total backing to $22.6 million.
Since the beginning of 2014, Appboy has experienced 210% growth in its customer base, attracting enterprise level brands including LifeLock, Shutterfly, USA Today Sports and Urban Outfitters. The new funding will be used to fuel continued growth and expansion of its sales and marketing objectives, and further the market of marketing automation for apps.
Commenting on the news, Mark Ghermezian, CEO and Co-Founder of Appboy, stated, “Appboy is delighted to be adding the expertise of our new partners at InterWest, and Doug Pepper to our board. We are encouraged by the ongoing support of our existing longtime partners.”
Appboy reminds me of the early days of Marketo – they have put together a remarkable platform and first-rate team. I am thrilled to join the company,” said Doug Pepper. “Traditional marketers have been using CRM and conversion-testing platforms for years, however, those conventional techniques do not translate perfectly to mobile. As marketers become more experienced, it will be crucial to adopt techniques to effectively cultivate personal relationships with their audiences. Appboy is successfully bringing marketing automation to the mobile space in a way others have yet to master.”
Appboy empowers marketers to manage the customer life cycle beyond the download. The intuitive marketing automation platform enables mobile apps to build and increase engagement with their user base through rich segmentation, multi-channel messaging and multivariate testing.
Ghermezian continued, “We have entered a mobile-first era and it’s no longer acceptable to solely have a mobile product. Marketers must have an engagement strategy to prevent app abandonment. It’s incredibly encouraging to see our customers continually increasing key metrics through user engagement on a one-to-one level, even those with millions of customers.”
Appboy is the global leader in Marketing Automation for Apps. The company’s suite of services empower mobile brands to manage the customer life cycle beyond the download. Employing rich customer segmentation, multi-channel messaging (push notifications, in-app messages, email, News Feed) and multivariate testing, brands can effectively cultivate relationships with their user base. Clients like Urban Outfitters, LifeLock, Shutterfly and Anthropologie use Appboy to increase engagement, reduce churn and build mobile ROI. Appboy is venture funded and based in New York City. For more information, visit www.appboy.com.