Leanplum, a Multi-Channel Customer Engagement Company, Raises $27M in Series D Extension Round of Financing

By: Retail CIO Outlook | Wednesday, February 26, 2020

Leanplum, a multi-channel customer engagement company, raised an added funding worth $27 Million from its Series D extension Round

FREMONT, CA: The leading multi-channel customer engagement platform, Leanplum, raised an additional investment worth $27 Million as an extension to its latest Series D growth round of funding. The extension round for the Series D growth fund was led by Norwest Venture Partners and Shasta Ventures, along with the participation of Kleiner Perkins, Canaan, and Launchub. The funds raised from the latest round will be utilized to bolster Leanplum's product development and go-to-market (GTM) efforts.

Leanplum is going to welcome Silicon Valley veteran George Garrick as its President and CEO, and Sheri Huston as the chief financial officer. The co-founder of Leanplum, Momchil Kyurkchiev, will assume the position of the chief product officer. The Chairman of Dynamic Signal, Russ Fradin, a well known prolific and successful entrepreneur, angel investor, and founder, will also assume a post in Leanplum's Board of Directors.

"With the continued explosion of mobile apps and the role of mobile devices as the key touchpoint for brands to maximize customer loyalty and lifetime value, it's imperative that brands use powerful and coordinated multi-channel engagement tools to connect with their customers at all times and through all digital channels," said George Garrick, CEO of Leanplum.

"Leanplum is a best-in-class solution that enables brands to engage with their customers in a relevant and personalized manner. As Leanplum continues to grow, I'm excited to oversee its expansion into additional global markets and an expanding total available market (TAM) while strengthening relationships with our existing customers and partners," he added. Garrick, as President and CEO, will be responsible for the company's operations and personnel worldwide and will report to Leanplum's board of directors.

Garrick has extensive expertise and experience gained from having served as CEO of both IRI and A.C. Nielsen earlier in his career. He has worked in fields of consumer behavior, advertising effectiveness and media, enterprise data, and analytics. In the last 20 years, Garrick has worked as the CEO of numerous venture-backed growth companies in Silicon Valley in media, e-commerce, data analytics, SaaS, and mobile platforms. The list of companies he has served includes Flycast Communications, Placeware, Inc., Wine.com, and Tapjoy. Huston has also worked in several CFO positions in companies such as Comscore Networks and LiquiBox, and senior financial leadership posts at Rockwell Automation and IRI.

"Having enabled more than 150 Billion messages in the last year alone, we take pride in the trust that our customers place in us," said Momchil Kyurkchiev, co-founder and CPO of Leanplum. "George is the right leader for Leanplum," added Momchil. "His strong management experience with companies at our stage and in our domain will be essential for Leanplum as we continue to drive growth and expand globally."

The company broke its records in 2019 when more than 2 billion people used an application or website with Leanplum inside. The company has enabled more than 150 Billion multi-channel messages. Leanplum has also worked with customers, has won the Mobile Marketing Association's Most Engaging Campaign Award, and has also received the MarTech Breakthrough Award in Innovation.

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