BounceX Secures Series B Round Led by Battery Ventures to Help Marketers Unlock the First New Scalable Revenue Channel in 10 Years
BounceX, the leading People-Based Marketing (PBM) cloud, announced $37 million in Series B funding led by Battery Ventures with participation from existing investors, Contour Venture Partners, Cross Creek Capital, Primary Venture Partners, Jason Finger and Rho Ventures. Founded in 2012, BounceX was named the Fastest Growing Software Company in America by Inc.com in 2016 and has quadrupled its revenue since.
Over the next two years, the company is planning to expand to 600 employees globally with a concentration in its NYC and UK offices. Today, over 350 companies work with BounceX, including world-leading enterprises such as Uniqlo, Neiman Marcus, Forever21, Samsonite, Hugo Boss, Avis and JetBlue.
BounceX created the People-Based Marketing cloud and is the first new revenue channel for marketers with scale in 10 years. “I found BounceX to be incredibly uncommon. I am constantly being offered these ‘amazing solutions that are going to solve everything,’ but, almost always, they fall short. This isn’t the case with BounceX; they consistently double the performance they promise,” says Neal Zamore, SVP Global Digital Customer Experience at Avis.
Outside of Google, Facebook and batch-and-blast email, there hasn’t been a new option for driving meaningful revenue in over a decade, We’re also impressed with the company’s ability to expand into new categories like financial services and travel while adding new products, accelerating growth and remaining capital efficient. BounceX is a company truly delivering tangible benefits to customers,” says Neeraj Agrawal, a general partner at Battery Ventures.
As part of the investment, Agrawal will join the BounceX Board of Directors. Battery Ventures has been a longtime investor in the marketing technology sector.
“Marketing is about growing the business. There are thousands of vendors out there, but few drive meaningful results and almost all take up the time, effort and energy of already-strapped marketing departments. BounceX was conceived to replace non-performing technologies by identifying a brand’s consumers and providing the most relevant digital experience based on their behaviors,” says Ryan Urban, CEO of BounceX.