Email Software Startup ContactMonkey Lands $55M To Expand Internal Comms Platform Follow Dec 07, 2023 · 1 min read
Email Software Startup ContactMonkey Lands $55M To Expand Internal Comms Platform
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Toronto-based ContactMonkey, a platform for managing and tracking internal company communications via email and other channels, has raised $55 million in Series A funding to accelerate growth amid rising demand. The sizable round was led by Updata Partners.

ContactMonkey integrates with email clients while allowing segmentation, customizable broadcasts, engagement analytics and more focused on streamlining communications between managers and staff.

The startup’s profitable bootstrapped business model and rapid adoption helped convince investors of its expansion potential as remote work necessitates better internal engagement. ContactMonkey already serves around 1,000 global customers.

“As employers continue to seek ways to better engage and retain talent, ContactMonkey is filling a key void with their robust and user-friendly solution,” said Updata partner Braden Snyder. The funding will drive international expansion and double headcount to 160, concentrating on sales and marketing.

Founder and CEO Scott Pielsticker started ContactMonkey after identifying demand for more insightful email-based employee communication tools. Their platform provides sender-side metrics like open, click-through and read rates unavailable in generic solutions. It also avoids issues plaguing sales/marketing email clients applied internally.

Integration across email, HR systems and messaging bolsters orchestration and targeting. Pielsticker believes this powerful approach can withstand economic cooldowns better than wider tech, having received limited impact so far. Their profitable history and strong value proposition helped clinch lead investor Updata despite the climate.

Competitors like Staffbase and Mailchimp lack ContactMonkey’s singular focus on maximizing the common email channel for impactful workforce communication and engagement. The ample funding and momentum nowpositional them to compete sustainably on scale and capture further market share in the space.

Pielsticker sums up their ambitious vision: “We provide a third avenue optimizing a vital business communication channel via data and usability - not just sending more emails. This investment will give us the fuel to deliver on a global level.”

With productive communication proving ever more critical for distributed teams, ContactMonkey’s fresh funding ensures its voice-enabling platform scales to satisfy demand worldwide. It has certainly banished doubts regarding startup viability and outsized Series A raises in 2023’s chilly climate.

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