eRelevance Corp., a provider of marketing automation services for small- to medium-size businesses, has secured a $5.1 million round of financing, bringing its total funding since its start to $13.7 million.
The round was led by Rally Ventures, working with other existing investors Chicago Ventures, Miramar Venture Partners, Martin Investment Holdings and Capital Factory.
The new funding will go into sales and marketing and toward further development of the firm’s platform. And, it will speed up the growth “of our $10 million ARR financial milestone,” said Bob Fabbio, CEO and co-founder of eRelevance, in a statement.
eRelevance helps companies reach customers through digital channels, including email, text and mobile. Now in its second year of selling, it has achieved $4 million in annual recurring revenue and has almost 800 customers.
The firm says it has achieved triple-digit revenue growth for six consecutive quarters.
Email is an important part of the company's cross-channel service. “What we’ve found is that many of the small businesses we’re working with are using email in a very limited way, occasionally blasting messages to their house list and hardly relying on any data or analytics to know what to send or when to send it,” said Adam Weinroth, CMO, eRelevance Corp., in an email. “For our customers, email is definitely an important piece of the puzzle because it offers them a direct way to reach their customers, but we’ve also found that different preferences and fragmented attention among their consumers really require surrounding them across multiple digital channels to drive meaningful results.”
Recently, eRelevance introduced a service called Smart Offers, through which it analyzes consumer interactions across all of eRelevance’s campaigns to determine the best-performing offers. The firm has also introduced Instagram to its channel mix.