Amplero Raises $8 Million In Series A Funding
Leading Venture Capitalists Invest in Amplero's Vision & Differentiated Approach to Machine Learning-based Marketing; Funds Will Accelerate Go-to-Market Strategy
SEATTLE, July 14, 2016 /PRNewswire/ -- Amplero, the world's first predictive customer lifetime value management platform, today announced it has closed an $8 million Series A funding led by Wildcat Venture Partners with participation from Globys/Trilogy Equity Partners, Salesforce Ventures and Seven Peaks Ventures. The company will use the capital to build upon its early success in telecom and gain market traction in the gaming, banking and subscription software verticals. Through this expansion, Amplero expects to demonstrate revenue growth and repeatability, and grow the Amplero team.
Traditionally, marketers have engaged their customers in a very transactional manner to help close a product sale or upsell them onto a higher priced product. However, over the next several years, leading analysts expect the majority of consumer discretionary spend going toward access to goods and services versus ownership of them. As companies in all industries go through a digital business transformation to meet this need, they must ensure that their services are personalized, provide ongoing value, and continually win the hearts (and share of wallet) of their customers.
According to Bruce Cleveland, founding partner from lead investor Wildcat Venture Partners, traditional rules-based marketing approaches fall short. "Marketers are primed for the next generation of marketing automation solutions – ones that let the marketer oversee the entire buyer's journey at scale while maintaining control over the entire process, machine learning is what makes these new solutions possible," said Cleveland.
Increasingly, leading B2C companies are turning to predictive solutions that marry marketing automation with machine learning technology to deliver highly relevant experiences across the customer journey and to maximize the lifetime value of each customer. With the global marketing automation industry projected to reach $5.5 billion by 2019, paired with the added value of machine learning technologies, solutions like the Amplero Intelligence Platform (AmpIP) are expected to gain substantial market share.
Scott McCorkle, CEO of Salesforce Marketing Cloud, recently stated, "Marketers want to put the customer at the center of their thinking and allow them to define each moment that matters. Now marketers can create smarter journeys that deliver the right content exactly when the customer needs it."
"Amplero's early customer traction validates product-market fit and has them on a positive growth trajectory, making the company well-positioned to cross the traction gap to gain widespread market adoption – a gap where many promising companies get stuck," said Cleveland. "As Amplero traverses the traction gap, we're looking forward to tapping our deep enterprise software and marketing automation expertise to help fuel the company's growth and momentum."
Amplero is a spinout from Globys, a Seattle-based software company that provides billing and analytics tools to the telecom and banking industries. With the support of Globys and its investors at Trilogy Equity Partners, Amplero has been able to focus on building an enterprise-grade marketing solution, the Amplero Intelligence Platform, and demonstrating with key telecom customers that it can drive meaningful lift on key business metrics such as average revenue per user (ARPU), churn reduction, and overall customer lifetime value (CLV). With this capital infusion from Wildcat and with the strategic investment from Salesforce, Amplero is poised to build out its go-to-market capabilities and further penetrate the market helping subscription software, gaming, banking and entertainment/media companies while also building out its team in Seattle.
"Seattle stands out as one of the biggest machine learning hotbeds in the world as demonstrated by tech behemoths like Amazon, Microsoft and Zulily. Resulting from their collective success, there's an emergence of machine learning startups that are using the technology across many industries and tapping into Seattle's top technology talent," said Olly Downs, CEO and data scientist at Amplero. "Between our revolutionary product, this infusion of smart capital and our world-class team, we couldn't be more eager to accelerate our go-to-market strategy and enable marketers to achieve what's not humanly possible."
For more information on Amplero or to request a demo of the Amplero Intelligence Platform (AmpIP), please visit www.amplero.com.
About Amplero
Founded in 2016, Amplero is a customer lifetime value management platform that enables marketers to achieve what's not humanly possible by leveraging machine learning and multi-armed bandit experimentation to automatically optimize every customer interaction to maximize customer lifetime value and loyalty. Using Amplero, marketers in telecom, banking and finance, gaming, and software-as-a-service have seen more than three percent incremental growth in customer revenue and five times retention benefit, often touching their customers less frequently while delivering great omni-channel customer experiences. For more information visit www.amplero.com or follow us on Twitter.
About Wildcat Venture Partners
Wildcat Venture Partners is a Silicon Valley-based venture capital firm that invests in early-stage software companies targeting an array of markets, including marketing technology, FinTech, digital health, EdTech, marketplaces, enterprise, consumer and the Internet of Things (IoT). The team brings decades of entrepreneurial experience, venture experience, and deep domain expertise to effectively navigate early-stage companies through the Traction Gap. For more information, visit www.wildcat.vc.
About Salesforce Ventures
Salesforce Ventures—Salesforce's corporate investment group—invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world's largest cloud ecosystem and the guidance of Salesforce's innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009. For more information, please visit www.salesforce.com/ventures.
About Seven Peaks Ventures
Seven Peaks Ventures partners with passionate entrepreneurs who want to make an impact on the world by disrupting large markets with innovative solutions in the data driven enterprise, digital health technologies, consumer software and cloud-based solutions. As experienced entrepreneurs, investors, and corporate executives, Seven Peaks applies its collective experience to help founding teams create powerful organizations that will change the world. For more information, please visit www.sevenpeaksventures.com.
About Trilogy Equity Partners
Trilogy Equity Partners, founded in Seattle in 2006 by a group of highly successful wireless and tech entrepreneurs, teams with exceptional entrepreneurs to help build great companies. Trilogy invests its capital in opportunities the partners are most passionate about, regardless of stage leveraging their own deep operational and entrepreneurial expertise to work for their portfolio companies. For more information, please visit www.trilogyequity.com.
Logo - http://photos.prnewswire.com/prnh/20150504/213773LOGO
SOURCE Amplero
Share this article