AUSTIN, Texas, May 9, 2017 /PRNewswire/ -- eRelevance Corporation, the leading customer marketing automation service for small- to medium-size businesses (SMBs), today announced it has completed a $5.1 million round of financing.
This funding builds on exceptional momentum by eRelevance, which ended 2016—only its second full year of selling—with 444 percent year-over-year revenue growth, approaching nearly $4 million in annual recurring revenue (ARR). The company has maintained triple-digit revenue growth for six consecutive quarters and has acquired nearly 800 customers in nine quarters.
"This strategic round of funding will help us accelerate the growth of our business toward our $10 million ARR financial milestone and continue to delight our customers with our unique and innovative service," says eRelevance Co-founder and CEO Bob Fabbio. "The additional funding will be used to expand our sales and marketing efforts and further develop our platform to earn an even greater leadership position in the nascent customer marketing automation service category."
eRelevance is pioneering the customer marketing automation service category by providing small businesses with sophisticated, powerful marketing capabilities that are usually too costly, complex or otherwise out of reach for small business. Combining its proprietary technology platform with in-house marketing experts, eRelevance offers big-company marketing capabilities as a tech-powered service, reducing marketing workload for small businesses, at a price point they can afford.
"There are thousands of marketing technology tools and marketing service companies catering to small businesses today, but most of them are focused on finding new customers. At eRelevance, we are focused on helping small businesses generate more repeat business from their existing customers," says Fabbio. "We're being well-rewarded by the market for offering a solution that addresses the customer marketing opportunity and makes sophisticated multi-channel marketing technology finally accessible to small businesses."
Rally Ventures led the round with other existing investors Chicago Ventures, Miramar Venture Partners, Martin Investment Holdings and Capital Factory. Since inception, eRelevance has raised $13.7 million.
About eRelevance Corporation
eRelevance helps small businesses thrive by driving more repeat business from customers. Pioneering the category of customer marketing automation as a managed service, eRelevance enables small businesses to reach their existing customers with targeted campaigns across digital channels, including email, text, mobile conversations, Facebook, Instagram and the web. With in-house marketing experts leveraging unique and sophisticated technology, eRelevance makes it possible for its hundreds of small business customers to execute complex, best-practice customer marketing campaigns with little effort and at a low cost.
Privately funded and based in Austin, Texas, eRelevance is a Red Herring Global 100 Winner and one of BuiltInAustin's Top 50 Startups to Watch. For more information, visit www.erelevancecorp.com.
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SOURCE eRelevance Corp.