Iterable, a San Francisco-based marketing start-up, on Thursday announced $8 million in funding.
The consumer growth and engagement platform raised its Series A funding round from CRV (formerly Charles River Ventures) and previous investors, placing total equity funding in the company at just shy of $10 million.
David Rangel, vice president of marketing at Iterable, says the company plans to utilize the investment to expand its channel network and team with particular emphasis on the engineering and sales departments. Iterable also plans to extend the functionality of its user engagement platform, a solution that that can quickly segment customers through a variety of data-specific customizations for more personalized marketing messaging.
Email marketers can leverage Iterable by integrating their email messages across multiple channels, including mobile push notifications, SMS, and the Web. Additional features include pre-built behavioral workflows for better campaign management and the ability to A/B test any aspect of a marketing campaign.
“Email is still the channel that drives the most engagement,” Rangel says. “Over the last couple of years there has been a lot of emphasis on mobile and many mobile-first providers, but we know that email is still the most important channel and we've always made sure that our platform can handle both very well.” Rangel asserts that the company has already begun developing social and other advertising-related options.Today’s funding announcement comes on the heels of a successful period of growth for Iterable. In 2015 the company became cash-flow positive after originally launching in 2013, and Iterable says it increased its customer base year-over year by over 800% and recurring revenue by over 1080%.