Mobile marketing platform Leanplum has closed its Series D funding round, raising $47m, ahead of unveiling what it calls, “the marketing cloud of the future” in December. Norwest Venture Partners led the round, along with contributions from other existing investors such as Canaan Partners, Shasta Ventures, and Kleiner Perkins Caufield & Byers.
Norwest partner Scott Beechuk will join Leanplum’s board of directors and said:
“Not only has Leanplum become the fastest growing mobile engagement platform, tripling revenue year over year for the past three years, but they’ve built an amazing work culture and are poised for continued growth in 2018.”
Leanplum CEO Momchil Kyurkchiev added:
“We’re excited to partner with Norwest because they share our long-term vision and realize that Leanplum is uniquely positioned to help marketers deliver in-the-moment engagement across every user’s journey. Leanplum is building an engagement platform that will transform the industry and take us to true relationship marketing, and in early December, we’ll unveil the next chapter in this journey.”
In addition to the new product in December, the investment will be used to build new technology in machine learning and automation, hire new staff, and to expand further internationally. The Leanplum end-to-end platform captures 16 billion mobile data points each day, and is used by companies including Tinder, Tesco, and Red Bull.