Appboy Secures Oversubscribed Series B Funding
We have always been confident that we’ve had the right team building the right platform, and now we’re pleased to reveal that a new esteemed team is sharing its belief in our vision.
We are proud to share that we’ve raised $15 million in an oversubscribed Series B round, led by InterWest Partners, the initial investor in Marketo (and supported by existing investors Icon Venture Partners, Blumberg Capital, T5 Capital and IDG Ventures). As part of this new relationship, we’re additionally thrilled to welcome InterWest General Partner Doug Pepper to our 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. Naturally he’ll fit in well, and will also be able to bring years of wisdom and insight about the marketing automation space.
As the app market continues to mature, the need for powerful, nimble mobile marketing tools will only grow in demand. Appboy has always been committed to being the best mobile engagement engine for marketers, and with this added financial boost, we’ll continue to make waves with thoughtful solutions for the pressing issue of app abandonment. Our vision is to be one step ahead in addressing industry obstacles, and our passion for doing so will solidify our position as the leader in Marketing Automation for Apps.
This encouraging development will no doubt allow us to extend our unprecedented breakneck pace into 2015. Since the beginning of this year, we’ve experienced 210% growth in our customer base, attracting enterprise level brands including LifeLock, USA Today Sports, Shutterfly and Urban Outfitters. The new funding will be used to fuel continued growth and expansion of our sales and marketing objectives, and strengthen our existing first-rate mobile engagement platform. We’ve seen what we can do with a conservative team of top talent, and as we grow, we can’t wait to exceed what we thought possible.
My sincere thanks to each of our customers for their support, and to our entire Appboy family in New York and California for contributing to our success thus far. This wouldn’t have happened without your involvement.
Stay tuned for more exciting updates to come, and email [email protected] with any questions.
In the meantime, if you’d like to read more about the news, check out the coverage so far:
– The Wall Street Journal
– MediaPost/Mobile Marketing Daily