Appboy, which focuses on marketing automation for apps, has announced it has raised $15 million in an oversubscribed Series B funding round. The round was led by InterWest Partners, and saw participation from existing investors Icon Venture Partners, Blumberg Capital, T5 Capital and IDG Ventures. The company will use this funding for sales and marketing, and for the overall expansion of its platform, which looks to solve the issue of app abandonment on mobile. InterWest General Partner, Doug Pepper, will join Appboy’s board of directors.
Appboy has experienced 210 percent growth in its customer base since the beginning of 2014, and has attracted brands including LifeLock, Shutterfly, USA Today Sports and Urban Outfitters. As the company focuses on helping marketers “manage the customer life cycle” after apps are downloaded, it offers tools to increase engagement via multi-channel messaging and user segmentation technologies, among others.
For instance, in May 2014, Appboy announced its Campaign Retargeting tool, which allows the company’s clients to retarget users by utilizing a variety of parameters. The tool allows users to be split into groups based on previous actions with marketing campaigns, such as whether they’ve interacted with push notifications or in-app messages, as examples.
Another tool, the company’s Multivariate Testing service [pictured above], launched last July, and allows marketers to test six variants of messages to measure the impact on conversion rates, click-through rates and revenue generated from campaigns, among other metrics.
“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,” said Mark Ghermezian, CEO and co-founder of Appboy, in a statement.
Appboy raised $7.6 million in Series A funding late last year. This Series B round takes the company’s total funding to $22.6 million.
“Traditional marketers have been using CRM and conversion-testing platforms for years, however, those conventional techniques do not translate perfectly to mobile,” added Doug Pepper. “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.”