App marketing specialist Appboy has completed its Series D funding round, taking $50m in a round led by ICONIQ Capital. It comes after the company reported considerable growth over the past year, with the most recent quarter being its strongest for new business yet.
Appboy provides comprehensive marketing campaign management software designed to help build relationships between brands and customers. It works with clients including Lyft, Airbnb, Domino’s, SK Telecom, and Urban Outfitters.
Bill Magnuson, Appboy’s CEO and cofounder, said:
“Appboy now sends tens of billions of messages per month, and maintains profiles for nearly a billion monthly active users spanning more than 400 clients in 35 countries across six continents. This significant infusion of capital marks our next phase of growth, allowing us to execute on our product vision while we continue leading the charge to replace the incumbent marketing clouds. By combining the expertise of our people and the sophistication of our platform, brands can satisfy the ever-changing demands of their customers by delivering real-time, cross-channel experiences that build long term value for brands.”
One of Appboy’s clients, Delivery Hero, called the service an integral part of its network, having sent millions of messages through Appboy, across more than 20 apps in its portfolio, and in 4 different countries globally.
IONIQ Capital led the round, and all previous investors also contributed, including Battery Ventures which led Appboy’s Series C funding.