Mobile marketing startup Attentive announced Wednesday it closed on $40 million in new funding. This money is an extension of a $70 million Series C raised last January, bringing the total amount for the round to $110 million. This, coupled with a $40 million Series B round closed last August, means the company has raised $150 million in just eight months.
The NYC-based company aims to make crowded email inboxes a thing of the past by enabling brands to engage directly with their customers through two-way, personalized texts that pertain to things like shipping, pricing and inventory. The software also provides analysis on engagement and revenue, allowing companies to refine their strategy over time.
Over the last four years, Attentive claims to have accumulated more than 1,000 clients, including Coach, Urban Outfitters and CB2, driving “billions of dollars” in transactions.
The company also says it’s seen a nearly 50 percent increase in daily average new subscribers and a steady growth of messaging volume, indicating that both brands and their customers are embracing this new form of interaction. CEO Brian Long told TechCrunch he doesn’t foresee this trend changing even as COVID-19 wreaks havoc on nearly every industry. Businesses, he says, still need to maintain relationships with their existing customers.
Attentive will be using this funding to hire across all departments. Long told TechCrunch he expects headcount to grow from 260 employees to more than 400 by the end of the year.
In light of the COVID-19 pandemic, the company says it will also be using a portion of this new capital to create a fund that will help e-commerce, retail, food and educational industries “navigate the current climate” by providing free access to Attentive’s technology and guidance. Additional information is scheduled to be announced in the coming weeks.
