Appboy raises USD7.6 million in Series A funding to expand business to mobile
Mobile relationship management platform Appboy announced that it received USD7.6 million in Series A investment. Icon Venture Partners led the investment round, with participation from existing seed investors that included Bullpen Capital, T5 Capital, Blumberg Capital and Accelerator Ventures. The investment round also saw participation from new investors IDG Ventures and Buddy Media founder Mike Lazerow.
Appboy's combined investment of USD7.6 million included a USD2.5 million in convertible note seed financing.
Appboy's platform had helped companies maintain their user base via tool offerings to help the companies with their user engagement. The tools, as said in a TechCrunch report, included push notifications, email and in-app messages.
Appboy co-founder and CEO Mark Ghermezian said, "If you want all the different, crazy charts, we're not that. But if you want to understand your users down to a per-user level, and manage all your communication with them...that's what we are."
The new funding would be reportedly used to hire additional staff for its sales and marketing teams. Appboy also intended to use the proceeds from the investment round to do aggressive marketing of its primary product, and has plans to expand in international markets.