Attentive, a personalized mobile messaging SaaS platform for brands, announced on Monday it has raised a $40 million Series B investment. The funding round was led by Sequoia with participation from existing investors Bain Capital Ventures, Eniac Ventures and NextView Ventures, and new investors IVP and High Alpha.
Founded in 2016, Attentive is on a mission to help e-commerce and retail brands connect with consumers. To do so, the company uses real-time behavioral data to automatically send engaging text messages to each subscriber.
“With 30%+ click-through rates and 10x higher revenue per message than email, mobile messaging is a powerfully effective way for consumers to stay connected to their favorite brands.”
Attentive also noted that it works with over 400 retail brands, including Sephora, Urban Outfitters, Coach, CB2, and Jack in the Box—and has experienced 8x customer growth in one year.
“With Attentive, mobile messaging can quickly become a top three digital revenue channel, regularly outperforming email marketing in terms of click-through rates and revenue driven per subscriber.”
Brian Long, Co-Founder and CEO of Attentive, shared more details about the company by stating:
“CRM is changing. Businesses can’t build a relationship with the modern consumer through email alone. Email performance, as measured by how many subscribers click-through on a message, is down 45% over the last five years. Rather than continuing to shout one-way messages at consumers, smart brands will stay relevant by embracing personalized, real-time, two-way communication channels.”
Pat Grady, Partner at Sequoia, then added:
“As people increasingly use messaging as a primary form of communication, businesses will too. With their mobile messaging platform, Attentive is leading a new category of direct-to-consumer marketing that we believe has huge market potential. We’re thrilled to partner with the entire team as they grow and provide brands with modern, effective tools to better engage with customers.”