New York-based BounceX, which provides behavioral software to direct marketing campaigns, announced it has raised $37 million in a Series B round of funding. Battery Ventures led the round, which included participation from Contour Venture Partners, Primary Venture Partners and Cross Creek Advisors, among others. Founded in 2012, the company has now raised $69 million in total funding. As part of the latest round, Neeraj Agrawal, a general partner at Battery Ventures, has joined the board.
BounceX Raises $37M in Growth Round to Fuel People-Based Marketing Cloud
BounceX Secures Series B Round Led by Battery Ventures to Help Marketers Unlock the First New Scalable Revenue Channel in 10 Years
New York (May 3, 2018) — BounceX, the leading People-Based Marketing (PBM) cloud, announced today $37M in Series B funding led by Battery Ventures. Founded in 2012, the company 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. “BounceX is a company truly delivering tangible benefit to customers,” says Neeraj Agrawal, a general partner at Battery Ventures. “We’re also impressed with the company’s ability to expand into new categories like financial services and travel while also adding new products, accelerating growth and remaining capital efficient.”
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,” says Ryan Urban, CEO of BounceX. “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 fill this void of non-performing technologies by identifying a brand’s consumers and providing the most relevant digital experience based on their behaviors.”
BounceX has been named of the Top 50 Highest Rated Private Cloud Companies to Work For by Battery and Glassdoor, in a ranking just unveiled today; Inc. 5000’s fastest growing software company in the US, and the seventh fastest growing company overall; #5 on Deloitte’s North America Technology Fast 500; #1 in New York for Entrepreneur & Culture IQ’s Top Company Culture; and Crain’s New York Best Place to Work.
Founded in 2012, BounceX’s People-Based Marketing (PBM) cloud is the first new channel with scale in 10 years. With offices in NYC, San Francisco and London and named the fastest growing software company in America by Inc Magazine in 2016. For the first time, marketers have a meaningful revenue channel outside of Google, Facebook and email. We are trusted by over 350 global enterprises such as Uniqlo, Neiman Marcus, Forever21, Samsonite, Hugo Boss, Avis and, JetBlue.
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.