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Email is quite profitable , as it turn over out . Or rather , email communicating software package is .
Today , Toronto - basedContactMonkey , a platform that lets companies create , get off and track national comms from Outlook and more , announce that it raised $ 55 million in a Series A round contribute by Updata Partners .
It ’s a sizable round from a single VC , so what warrant the substantial vote of authority ? Perhaps ContactMonkey ’s profitability — or the fact that the company was bootstrapped up until late .
allege Updata partner Braden Snyder in a financial statement : “ As employer bear on to essay ways to best engage and retain natural endowment , ContactMonkey is filling a key void in the market with their robust and user - well-disposed solution . In the remote work epoch , we think that troupe must keep to find avenue to best engage with their employees and commune with them in ways that truly resonate . ContactMonkey powers this type of communication . ”
ContactMonkey father and CEO Scott Pielsticker said that the new cash will be put toward expanding in international mart and doubling the size of ContactMonkey ’s 80 - person team , with a special emphasis on build out ContactMonkey ’s sales and selling organizations .
“ Our intellect for raising money now is simple , ” Pielsticker told TechCrunch in an e-mail interview . “ We see fantastic need in the grocery and around the earthly concern for internal email platforms , as companies front to amend how they communicate with employee . We believe we ’re well suited to meet this demand . ”
Prior to ContactMonkey , Pielsticker started Blueback , a London - based taxi machine company . ContactMonkey came about after Pielsticker says he learn vindicated requirement in the market for a chopine to serve businesses engage employee through email .
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“ Our delegacy became to create a beautiful product for teams to leverage that ’s substance abuser favorable and that has cardinal information and insights to ameliorate internal communication , ” Pielsticker said .
“ Beautiful ” and “ exploiter friendly ” is proportional , of course . But ContactMonkey indeed render on the hope of unite staff member — and managers — via email . The platform integrates with Outlook , Gmail or Teams , as well as SMS and human resources selective information systems like Workday and ADP , assisting in orchestrating things like company promulgation , alerts and updates .
Through engagement analytics , ContactMonkey allows drug user to ramp up segmented employee lists , collect feedback and view metrics such as click - through rates , open rates and read rates .
ContactMonkey has around a thousand customer , and Pielsticker says that the radix is on a firm uptick . While he admits that ContactMonkey is n’t alone in the market for managing home emails ( see : Staffbase , Mailchimp ) , he argues that the investment from Updata puts it in a solid berth to combat the challengers .
“ COVID-19 had a electropositive impingement as employers front to well communicate with their remote proletarian and maintain fellowship finish . We think this investment will provide us with the runway need to deal with any grocery store headwind — though we do not see the lag in our industry as much as the wider tech industriousness is feel it .
