Series D, Growth & the Next-Gen Marketing Cloud
Today, Leanplum is absolutely thrilled to announce $47 million in Series D funding led by our new investor, Norwest Venture Partners, with continued support from previous partners Canaan Partners, Kleiner Perkins Caufield Byers, and Shasta Ventures. We are delighted to welcome Norwest’s Scott Beechuk to the Leanplum Board of Directors. As a product management executive at Salesforce, Scott helped lead Salesforce to $2.3 billion in annual revenue.
We will use the funding to fuel our global expansion, hire world-class talent, and build the next-gen marketing cloud.
Our Vision for Marketing’s Future
Marketing has always been about connecting the best product or service with the right person.
Once upon a time, an age before AI, Big Data, and machine learning, the little shop on the corner knew their customers personally and so well that they could predict and hand-select what their audience truly valued.
Whether it was an item of clothing for fall, a choice cut of meat for Sunday dinner, or a new best-seller by a favorite author, great merchants delivered one-to-one value for their best customers. This personalized attention drove customer preference and engendered long-term loyalty.
The advent of marketing technology hoped to give scale to these relationships. But in our rush to drive volume, the focus on the personal needs of each customer fell by the wayside.
Returning to the Roots of Customer Relationships
Digital was built for mass transactions. So, it’s no surprise that today’s marketing clouds are designed to deliver batch uploads and generic messaging blasts.
True, we have successfully scaled for reach, but not for longevity in customer relationships. The upshot? Marketing technology is suffering from a major gap. Marketers, particularly in the mobile space, are burning disproportionate amounts of budget on acquisition, acquisition, acquisition without an eye to sustainable growth or long-term customer love.
In Search of the Marketing Holy Grail
What is missing?
Legacy companies built for web lack the real-time infrastructure to respond to customer needs in the moments that matter. Today, these moments are happening on mobile.
Think about it: Smartphones are the most personal device we own. These devices know us better than any technology built today. To unlock the one-to-one value that only mobile can deliver, marketers need a new type of platform.
Changing the Mobile Engagement Landscape
From messaging and personalization to conversion and loyalty, Leanplum was designed to help marketers deliver in-the-moment engagement across every user’s journey. And at volume. Personalization at scale has always been the holy grail of marketing. This is why we founded Leanplum.
Every day, mobile disruptors like Tinder, Grab, Red Bull, Topshop, and Zynga rely on Leanplum to accelerate growth and build long-term customer relationships.
Delivering personal engagement in those moments that matter, Leanplum captures 16 billion data points each day and sends more than 12 billion push notifications per month.
I’m proud to say that we’ve tripled our growth and revenue year-over-year for the past three years. Our Series D Funding is a huge milestone in our vision to enable meaningful relationships between brands and their consumers. Guess what? Another chapter of that mission — and the next evolution of Leanplum — unfolds in less than a month. Stay tuned.
Finally, I’m really excited that our new funding round will continue to helps us invest in the award-winning, world-class culture we’ve nurtured and championed at Leanplum. I invite you to come along for the ride. We’re hiring!
Leanplum is the mobile marketing platform built for engagement. We help brands like Tinder, Grab, Tesco, and Zynga orchestrate multi-channel campaigns — from messaging to the in-app experience — all from a single, integrated platform. Schedule your personalized demo here.