Venture Funding

Leanplum Raises $47 Million Series D


SAN FRANCISCO — Leanplum, a mobile marketing specialist, has raised a $47 million Series D round of financing led by Norwest Venture Partners with participation from existing investors Canaan Partners, Kleiner Perkins Caufield & Byers, and Shasta Ventures.

Scott Beechuk, partner at Norwest and former SVP of product management at Salesforce Service Cloud, will join the Leanplum board of directors.

Founded in 2012, Leanplum has raised more than $93 million to date.

“Marketing is relationship-driven by nature, but over time, digital has optimized for reach versus meaningful connections,” said Momchil Kyurkchiev, Leanplum CEO and Co-Founder. “We’re excited to partner with Norwest because they share our long-term vision and realize that Leanplum is uniquely positioned to help marketers deliver in-the-moment engagement across every user’s journey. Leanplum is building an engagement platform that will transform the industry and take us to true relationship marketing, and in early December, we’ll unveil the next chapter in this journey.”

Leanplum is building the marketing cloud of the future, leveraging the unique power of mobile to help brands drive deep and meaningful customer relationships. The new investment will accelerate product innovation in key areas such as machine learning, cross-channel automation, and one-to-one personalization. In addition, it will fuel international expansion to meet growing demand from marketers around the world.

“Mobile has changed the face of marketing, and the industry is undergoing a major transformation. Legacy marketing clouds are built for web and lack the real-time infrastructure to respond to customer needs across channels and devices,” said Scott Beechuk, partner at Norwest Venture Partners. “Leanplum is designed from the ground-up to deliver this value. One of their secret weapons is a world-class A/B testing solution that’s fundamental to their platform, allowing customers to optimize campaigns and generate higher ROI than competing solutions. Not only has Leanplum become the fastest growing mobile engagement platform, tripling revenue year over year for the past three years, but they’ve built an amazing work culture and are poised for continued growth in 2018.”

Capturing more than 16 billion mobile data points daily across its end-to-end platform, Leanplum provides the insights and capabilities to help marketers deliver in-the-moment engagement across each user’s journey — at volume. This personalization at scale is the holy grail of marketing, which is why clients such as Tinder, Grab, Red Bull, Topshop, and Zynga are turning to Leanplum to harness the one-to-one value that only mobile can deliver.

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