E-commerce marketing startup Springbot has closed an additional $15 million in an equity funding round led by new investor North Atlantic Capital. With this funding, the six-year-old company has raised over $30 million to-date.
All current investors, including TechOperators, TTV Capital, Harbert Growth Partners, TechSquare Labs, Forte Ventures and Silicon Valley Bank, also participated in the round.
Atlanta-based Springbot helps over 800,000 small to mid-sized retailers optimize their e-commerce operations by automating and analyzing all their digital marketing campaigns. Smaller businesses often don’t have the same access to data analytics resources that larger e-commerce companies do — Springbot provides those tools for multiple channels including email, social media, online ads, Amazon Marketplace and more, all within one platform.
“The capital will be put toward furthering our mission to innovate on behalf of the small to medium-sized retailers looking to grow their business,” says co-founder and CEO Brooks Robinson. That means building on their current integrations with e-commerce shopping carts BigCommerce, Magento, Shopify and WooCommerce, along with new data analytics products and tools.
Springbot has seen consistent growth, increasing annual revenue by 1,640 percent in the past three years. They were ranked #301 on the Inc. 500 list of fastest growing U.S. companies — 13th overall in Atlanta and 35th nationally in the software category. And, in 2017, they were named to the inaugural class of the Metro Atlanta Chamber’s Backed By ATL program, which provides resources and partnerships to Atlanta’s most-promising scaling companies.
Last year, Robinson told Hypepotamus they intended to double their workforce. They’re now at about 120 employees.
“If we’re not coming to work every day thinking how can we help our online retailers grow through technology, then we’re missing the boat,” Robinson told Hypepotamus. “I think that’s the focus everyone has here every day, is just to wake up every morning thinking how can we help them grow?”
Photos via Springbot