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Appboy Receives a $15 Million Round of Funding

Posted on 10.03.2014

As apps have grown in popularity companies have had to get creative in order to think up ways to make them profitable.

It is through this need that marketing companies have risen to help app developers maximize the profitability of their apps.

Appboy, a provider of marketing automation for apps, recently announced the reception of $15 million in a round of Series B funding led by InterWest Partners.

This latest round of funding, which brings the company’s total backing to $22.6 million, comes at a time when the company has seen 210 percent growth in its customer base since the beginning of 2014, including names like Urban Outfitters, USA Today Sports and LifeLock. The company plans on using the newly acquired funding to grow and expand its marketing and sales objectives.

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“We have entered a mobile-first era and it’s no longer acceptable to solely have a mobile product. Marketers must have an engagement strategy to prevent app abandonment,” said Mark Ghermezian, CEO and co-founder of Appboy. “It’s incredibly encouraging to see our customers continually increasing key metrics through user engagement on a one-to-one level, even those with millions of customers.”

Other contributors to the Series B round of funding include existing investors Icon Venture Partners, Blumberg Capital, T5 Capital and IDG Ventures.


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