New York-based marketing technology startup, Appboy, has announced a fresh $50 million in Series D funding as it expands its platform to compete against industry leader Salesforce and other business software players. The latest round led by Iconiq Capital brings Appboy’s total funding to $93.6 million.
The lifecycle engagement technology startup launched in 2011 to meet the growing need for mobile solutions, while traditional players were evolving to address their enterprise customers’ changing demands. The tech firm provides its clients with consumer scale CRM software intended to help marketing teams collect data into a single view of each customer, wherein they can combine it with marketing automation and campaign orchestration to deliver real-time, personalized cross-channel messaging experiences.
“Legacy clouds founded in 1999 and 2000 don’t understand what it means to transact in mobile,” Appboy CEO Bill Magnuson told Fortune in an interview.
Appboy lists customers such as Airbnb, Lyft, DraftKings, Domino’s, Citibank, ABC News and Microsoft, who leverage its technology to create personalized pitches for a given consumer, browsing either on the web or a mobile device. The software then delivers the individualized pitches and tracks results.
The six-year-old company will use to the additional funding to bolster its engineering, sales and marketing teams, as well as build out its international presence. With headquarters in New York, Appboy also has offices in San Francisco and London and reseller partners in Japan, Thailand and other locations around the world.
When asked if Appboy will consider M&A or an initial public offering, Magnuson responded, “Our goal is to control our own destiny and be an independent, robust company.”
