Emotive raises $50M to make text marketing more conversational
While more businesses are turning to text messages as a marketing channel, Emotive CEO Brain Zatulove argued that most marketers are just treating it as another “newsletter blast.”
“The reason the channel performs so well is it’s not saturated,” Zatulove said. But that’s changing, and as it does, companies will have to do more to “cut through the noise.”
That’s what he said Emotive provides, by enabling text marketing that feels like a real conversation with another human being, rather than just another email blast. He compared it to the sales associate who would greet you when you first walked into a department store, pre-COVID.
“The online sales associate really didn’t exist,” he said. “That’s what we’re trying to provide.”
Emotive saw 466% year-over-year revenue growth in 2020 and is announcing today that it has raised $50 million in a Series B funding round that values the company at $400 million. It was led by CRV with participation from Mucker Capital, TenOneTen Ventures and Stripes.
“Never underestimate the importance of building a product that your customers, and your customers’ customers adore,” said CRV general partner Murat Bicer in a statement. “One of the things that struck us about Emotive is the sheer amount of customer love Brian and Zack get from meal delivery services, manufacturing companies and even toddler shoe brands. Small businesses find it easy to set up campaigns and their customers genuinely prefer communicating with someone over text rather than email.”
Zatulove said he founded (Read more...)