Mobile messaging startup Attentive continues to generate new financing. The startup raised a$40 million Series B last summertime, followed by a$70 million Series C at the beginning of this year. Today it’s announcing that it’s extended the Series C by another $40 million, bringing the total round size to $110 million. CEO Brian Long (who previously established TapCommerce with his Attentive co-founder Andrew Jones and sold the business to Twitter)informed me that the brand-new financing closed simply a week back. He stated the money originates from institutional financiers who had wished to take part in the Series C, but “for whatever factor, the timing didn’t exercise.”As the start-up desired to invest in
brand-new locations– particularly in response to the COVID-19 pandemic– Long reached out once again. The companies were prepared to invest once they saw Attentive’s numbers for the first quarter of 2020. Obviously, the number of brand-new consumer sign-ups is just increasing, with Attentive now working with more than 1,000 companies. Business like Coach, Urban Outfitters, CB2, PacSun, Lulus and Jack in the Box use the platform to manage their mobile messaging, with tools around including text customers, creating appealing messages and tracking the outcomes of those campaigns. And while we’re at the start of what’s likely to be a remarkable slowdown in marketing and advertising, Long recommended that even if organisations draw back on obtaining new clients, they’ll still need to keep a relationship with existing ones.”CRM is such an important channel for companies … e-mail and text are the last thing you would shut down, “he said. Sequoia Capital International Equities and Coatue are the brand-new investors in the Series C. Sequoia’s venture fund already led (or co-led) the Series C and the Series B, but Long stated he had an interest in dealing with the company’s crossover fund– and with Coatue– partly since they purchase public companies as well.
Not that he has instant prepare for Attentive to go public, but he stated, “It just develops optionality,” so that there are less financial pressures despite the route the business takes.
Other financiers in the Series C include IVP, Bain Capital Ventures, NextView Ventures, Eniac Ventures and High Alpha.
“Attentive’s quick development is an indicator of how consumers aspire to find a more direct, customize and efficient channel to interact with organisations,” stated Jeff Wang, handling partner at Sequoia Capital Global Equities, in a statement. “We’ve been impressed by how rapidly Attentive’s company has actually scaled, its strong client momentum, and the proficiency of the team. We are thrilled to increase Sequoia’s partnership with Attentive through our International Equities fund.”
When it comes to how Mindful is reacting to COVID-19, the start-up plans to develop funds to assist clients browse the financial fallout. There will be more information launched in the coming weeks, but Long said the concept is to release funds concentrated on the e-commerce/retail, food/beverage and educational sectors, providing open door to Attentive tools and services “to assist those business get recharged.”
Long added that he hopes to grow Attentive’s headcount from 260 staff members to more than 400 by the end of this year.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.