Dynamic, real-time and personalized email technology provider PowerInbox has closed a $6.5 Million Series A Round financing round led by Battery Ventures, Genesis Partners and new investor Maverick Ventures, with participation from previous investors as well. Libby Novack from Maverick Ventures will join PowerInbox's board of directors.
The funding is being used to accelerate the growth which PowerInbox experienced in 2015, when the company saw an increase of 700% in emails where PowerInbox code was inserted, 1,400% growth in impressions and 2,000% growth in revenue. The company is now embedded in over 2.5 billion emails sent a month from over 500 email newsletters and optimizes over 30,000 different pieces of content per day.
New York-based PowerInbox merged with Israeli company ActivePath in 2012 and maintains offices in Petah Tikva, which will be expanded following the latest financing round.
During 2015, PowerInbox added over 100 new clients such as Hearst, Edmunds, Sephora, General Motors, MSG, Showtime, HBO, and others to its DynamicMail email marketing solution and CNN, ABC, Wiley, Bonnier, Beyond, New York Magazine, Bauer, Myspace, and others to its RevenueStripe content recommendation solution.
The new funding will also be used to support new dynamic content widgets for DynamicMail, including personalized images & video, real-time Instagram, Twitter, & RSS feeds, weather, timers and tickers, plus many more. The use of these dynamic components in email usually leads to at least a 30% increase in conversion and can be integrated through a self-service portal. DynamicMail is ESP agnostic and works across all devices and email services.
With the funding earmarked for sales, product development and marketing, PowerInbox expects to double in size by adding new hires, including the recently hired VP Marketing Renee Chemel who brings nearly two decades of B2B marketing and lead generation experience to the company.
Published by Globes [online], Israel business news - www.globes-online.com - on March 30, 2016
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