Iterable nets $1.2 million for holistic email marketing service
An emerging startup called Iterable Inc. has raised $1.2 million in seed funding from a group of prominent angel investors to bring email back to the marketing fore in the social media era. The capital will help fuel the development of its namesake service, which provides a command center for targeting online audiences.
Iterable plugs into a broad spectrum of third party data sources ranging from Google Analytics to mobile tracking tools such as Segment.io and combines the information into an integrated picture of the user across different channels. Companies can use the insights from the model to break down their audiences into categories based on metrics such as common interests and deliver the most relevant messaging to each group.
That granular visibility is particularly useful for accomplishing specific goals such as trying to re-engage a user who has abandoned a cart on an e-commerce website or promoting a custom offer to a customer who has a history of favoring certain brands. To help marketers target consumers with the maximum possible precision, Iterable includes a native designer that makes it possible to tailor messages to the specific expectations of different audiences.
A complementary testing system that has similarly been built directly into the service can help narrow down the focus even further by comparing the effectiveness of different variations and automatically modifying the campaign accordingly.
Individually, none of the capabilities in Iterable’s arsenal are particularly groundbreaking, but the startup is pegging the combined whole as greater than the sum of its parts, a pitch that managed to convince some of the biggest names in the Silicon Valley venture capital scene. The new $1.2 million round included contributions from Merus Capital, 645 Ventures, TEEC Angels and 500 Startups along with Yun-Fang Juan, who is credited with creating Facebook’s advertising strategy.
Iterable will invest the capital to add more mobile features to its service, namely push notifications and SMS support. The startup also intends to grow its headcount in conjunction.
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