Appboy closes $20 million funding round

Funding to be spent on growth in Europe

Date Type Companies involved Size
May 9th, 2016 investment Appboy
Battery Ventures
Appboy closes $20 million funding round

Mobile marketing automation platform Appboy has closed a $20 million Series C financing round, bringing its total funding to $45.5 million since 2011.

The additional funding will be go towards the company's continued growth, especially in Europe where it has opened two new locations in 2016, an office in London in February, and a data centre in Frankfurt in April.

"In this market where growth rounds are getting all the scrutiny, it was our culture that allowed us to prevail," wrote Mark Ghermezian, CEO and co-founder of Appboy, on the company's blog.

"Our Series C could not have been done without the people at Appboy. We only succeeded because of their commitment and drive to build and dominate together as one."

Appboys to men

“We’ve long been looking for ways to play the huge trend in mobile,” said Neeraj Agrawal, general partner at Battery Ventures, which led the funding round.

“We were investors in ExactTarget and Neolane and those systems, along with Responsys, are Appboy’s main competitors in the market.

"Those are great businesses, but they weren’t built for this use case like Appboy was.”

[Source: AdExchanger]


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