The Leader in Behavioral Marketing Secures New Funding to Scale Operations Through Strategic Acquisitions, Accelerated Hiring, And International Expansion
BounceX, the leader in cloud-based behavioral marketing and Inc.’s Fastest Growing Software Company, today announced it has closed $31 million in growth capital financing from Silicon Valley Bank (SVB) and its original venture investors. The new capital will be used to make strategic eight-figure acquisitions, significantly expand the company’s engineering resources, and invest in its proprietary database and device graph to support its growing list of clients. The company has demonstrated an accelerated growth in the last three years, backed by $1.5 million in seed funding.
Earlier in August 2015, the NY-based leader in behavioral automation platform scooped $6.45 million from six investors, led by 500Friends founder and angel investor Justin Yoshimura with participation from Contour Venture Partners, Primary Venture Partners, and New York Yankees’ All-Star Alex Rodriguez. Interestingly, 500Friends is a Customer Loyalty Marketing Solutions provider, which was acquired by performance marketing agency — Merkle in November 2014.
“Consumers are demanding a more relevant browsing experience across devices and channels, and brands are scrambling to meet these needs. We have unlocked this capability and are experiencing an influx of demand for our products from the largest digital enterprises in the world,’ said BounceX CEO Ryan Urban.
The leading enterprises in the world are experiencing unprecedented adoption of the BounceX platform. The latest funding will enable BounceX to support increased demand for the expanding portfolio of solutions. Additionally, I speculate the company to design and execute aggressive plans to cross $100 million in ARR by 2019 with a motivated team and advanced technology innovation.
With this new injection of funds, BounceX will focus on deepening the breadth and depth of its proprietary consumer database, expanding its product offerings to help facilitate more relevant and timely consumer interactions and empowering brands to unlock previously inaccessible revenue.
Since BounceX launched in 2012, the company has blazed trails with tremendous growth and prolific recognition. BounceX experienced a 14,575% three-year growth, and increased average client size by 4x with the release of 2 additional product offerings. It currently partners with some of the world’s leading enterprises including Uniqlo, Neiman Marcus, Rodale, Time Inc., and JetBlue.
Ryan adds, “BounceX has created a new scalable revenue channel for marketers, and this funding will allow us to continue to invest heavily in further increasing product performance.”
Additional accolades include: Inc. 5000’s fastest growing software company in the US and seventh fastest growing company overall; number 5 on Deloitte’s North America Technology Fast 500; #1 in New York for Entrepreneur & Culture IQ’s Top Company Culture; Crain’s New York Best Place to Work; and SmartCEO’s winner of its Corporate Culture Awards.
“Digital marketing is ripe for serious disruption as consumers increasingly move unpredictably across a proliferation of channels and devices,” said Melissa Stepanis, New York market manager for Silicon Valley Bank.
“BounceX is a leader in digital marketing solutions, with the potential to transform and make a significant impact on the industry. The company’s growth since they started serves as a major testament to the team’s strategic vision and unwavering focus on performance. We are excited to support a company that is consistently delivering client value and leading with innovation.”
Launched in New York City in 2012, BounceX is recognized as a leader in cloud-based behavioral marketing. It provides Behavioral Marketing Cloud™ that identifies previously anonymous visitors, enabling organizations to unlock people-based marketing experiences. With new funding coming in, BounceX is expected to expand its business into more niche martech categories, catering to global customers across diverse regions.