CallRail Receives $56 Million Funding
CallRail, a lead-focused marketing, and analytics platform announced that it reached $60M in ARR and received an additional $56M investment from existing investors Sageview Capital and Leaders Fund, showing a strong vote of confidence in CallRail’s growth trajectory, and bringing CallRail’s total capital raised to $132M. The company maintained profitability and a 30%+ YoY growth rate amidst a global pandemic. With a 35% increase in overall call volume between June 2019 and June 2020, consumers are counting on the phone to answer their questions now more than ever. Marketers are honing in on their inbound strategies and looking to CallRail to help them track these conversations all in one place. With the Call Tracking Software market expected to achieve massive growth by 2026, CallRail will continue to be integral to the businesses they work with.
“By learning from and partnering with our customers to expand our products, we continue to push the status quo in Call Tracking and have become a fully-integrated marketing and analytics platform, helping SMBs improve efficiency and productivity,” said Mary Pat Donnellon, CRO of CallRail. “The growth we achieved this year is a testament to the value our platform provides our SMB and agency customers.”
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Since its inception in 2011, the company’s Call Tracking technology has been vital to small-to-medium-size businesses (SMBs) and agencies, helping them understand why their leads — and their clients’ leads — are calling. CallRail’s transition to a platform began in 2019 with the introduction of Form Tracking, when CallRail made its signature multi-touch attribution insights available for leads captured through forms on businesses’ websites.
After rolling out Form Tracking, CallRail listened to the needs of their customers and announced two new products in 2020 that allowed SMBs to improve their marketing strategies and customer satisfaction: Conversation Intelligence and Lead Center. Conversation Intelligence offers automated call transcription and AI-powered call analysis, allowing businesses to affordably analyze valuable phone call data and take appropriate actions such as identifying training opportunities for employees. Lead Center, CallRail’s most recent product launch in 2020, enables SMBs to connect with, prioritize and manage every lead from a single inbox, regardless of interaction type, so no opportunity is missed. Both of these products have enhanced efficiency by allowing marketers to manage their insights all from one unified platform.
With its robust platform, CallRail is quickly becoming the single software solution SMBs and agencies need to manage leads and achieve better sales and marketing outcomes. CallRail is going all-in with a product-led growth approach, investments in its team, and attracting top talent by building a culture of purpose and impact. These strategies will continue to support CallRail’s customers’ growth in 2021.
“We started CallRail nearly 10 years ago because there weren’t any call tracking services available to small businesses that were affordable and tailored to their specific business needs,” said Andy Powell, CEO, and co-founder of CallRail. “Today, we are extremely proud of the platform we built and how it has democratized insights and tools that help SMBs manage and improve their overall marketing strategies, ultimately enabling growth.”
“CallRail is a vital solution for any organization looking to improve their overall marketing strategy, and ultimately increase revenue, without breaking the budget,” said Dean Nelson, senior partner at Sageview Capital. “The COVID-19 pandemic has further demonstrated the importance of technology in helping businesses, especially SMBs, engage with their customers and pivot their strategies in an unpredictable environment. We’re proud to continue supporting CallRail and their mission to democratize marketing and analytics tools for businesses of all sizes.”
“CallRail has consistently pushed the status quo to become the best in Call Tracking, and now, a platform for businesses to manage insights from all of their communication channels, whether it’s a call, online form, chat or text message,” said Stephen DeBacco, managing partner at Leaders Fund. “Andy and his team have built a remarkable company, which is evident in the tremendous growth CallRail has experienced over the last few years. We look forward to expanding our partnership with CallRail as they continue to deliver innovative solutions, and help businesses achieve better outcomes.”
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