SaaS customer comms platform provider Intercom takes $35m Series C
Software-as-a-service (SaaS) customer communications platform provider Intercom, Inc. has raised $35 million Series C in a round led by ICONIQ Capital that included previous investors The Social + Capital Partnership and Bessemer Venture Partners.
Founded in 2011, Intercom offers a customer communications platform that it claims is a fundamentally new way for internet businesses to communicate with customers personally, at scale.
The platform offers a suite of integrated products for every team—including sales, marketing, product, and support, that delivers the ability for users to communicate with customers on their website, inside web and mobile apps, and by email.
Intercom claims that their platform contrasts with what they describe as “the old way” where businesses used a variety of different communications tools such as marketing automation or helpdesk products, with every team within the business operating in a silo; Intercom argues that this makes it hard for teams to work together and be on the same page, delivering a disjointed and impersonal experience for each customer.
Numbers for the company are solid with 7,000 paying customers in over 85 countries, including startups General Assembly, Inc., ZenPayroll, Inc., and Invision, Inc., along with public companies including Ancestry.com, Inc., New Relic, Inc., and Shopify, Inc.
Intercom’s customers are not shy in using the platform either, communicating 3 million times per day with over 250 million of their end-users.
“What Intercom have built so far is truly outstanding,” General Partner at The Social + Capital Partnership Mamoon Hamid said in a statement. “I see pretty much all of the great SaaS companies around and they are one of the fastest growing of their generation…By the end of 2015, Intercom will have grown its revenue nearly 100x since its Series A in June 2013.”
It makes sense
SaaS delivery of non-siloed integrated communication services makes a lot of sense, even if you don’t necessarily work in an industry that requires regular interaction with customers.
The how it use to work before argument put forward by Intercom of automated replies and the left hand of one company not knowing what the right hand is doing in terms of customer communications and staying on message though is a real problem many people would have encountered.
Including the new round, Intercom has raised $65.8 million to-date. Previous investors who didn’t participate in the new round include David Sacks, Freestyle Capital, 500 Startups, and a range of individuals on their initial seed round, including Biz Stone.
The company said it would use the new funding to “continue investing heavily in building new and existing products on the Intercom platform.”
Image credit: Intercom
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