Customer communication platform Intercom raises $50M

Customer communication platform, Intercom has raised $50 million, bringing its total funding to $116 million. The round was led by Index Ventures, with participation from previous investors ICONIQ Capital, Bessemer Venture Partners, and Social Capital. The funding will be used in product development, which includes a suite of integrated products for teams including sales, marketing, product, and support. The products enable communication with customers on the website and mobile apps, by email and by Facebook Messenger. “We’ve been really fortunate at Intercom that our core focus on product continues to pay off,” said Intercom Co-founder and CEO Eoghan McCabe.
“Unlike conventional software companies, the strength of our technology has generated incredible organic revenue growth, meaning we don’t have to pump a ton of capital into sales and marketing. We can continue to focus on building product to help businesses communicate with their customers in a more personal way,” he added.
Founded in 2011 in San Francisco, Intercom claims to have 10,000 paying customers in over 90 countries, up from 5,000 in April 2015, ranging from startups like Expensify and Trunk Club to public companies like Rackspace and IBM. It also claims that it doubled its headcount to 250, and quadrupled revenue to tens of millions of dollars, last year. Intercom feels that the company is now fully funded and won’t need to raise further funds to reach profitability. McCabe revealed in a video message that the company is coming up with “a new product this summer”, while reinventing a core part of its tech that’ll help businesses and customers connect in even more personal ways. Watch the message below:

Abhinav Mohapatra

An author who has a keen interest for the ‘off-beat’ <!--more-->An author who has a keen interest for the ‘off-beat’, he has covered and explored multiple facets of the marketing, advertising

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