SessionM receives $35 million growth investment to expand mobile marketing solutions
Mobile marketing automation and loyalty platform, SessionM, has secured $35m in growth investment led by General Atlantic, alongside other investors including Causeway Media Partners, Charles River Ventures, Highland Capital Partners and Kleiner Perkins Caufield & Byers.
SessionM provides mobile marketing automation and data management tools for a more personalised consumer relationship.
SessionM receives $35m cash injection
The company says it has created a way to bridge a client’s CRM database with its marketing stack via its cloud-based SaaS platform that collects audience behaviour across all channels, appends the data to individual profiles and triggers a personalised response through a real-time rules engine. The platform hence works with existing marketing technologies, including Salesforce, but also as an upgrade over old legacy systems.
This year, SessionM has already processed 1.5bn consumer behaviours a month, linking them to over 250m profiles. It also delivered 1.2bn personalised engagements within an average 50 milliseconds.
Lars Albright, Co-founder and CEO, SessionM, explains:
“The objective of every CRM strategy is to improve customer loyalty. That requires transitioning beyond a static, list-based CRM to one that enables dynamic personalization as customers engage across various channels. Our platform is built to enable customized customer interactions at scale. With General Atlantic’s strong expertise in the marketing technology sector, we look forward to adding even more resources to our platform, acquiring more blue-chip customers and further expanding our global footprint.”
A Gartner report found that many CRM vendors do not have the capabilities to maintain an overview of the single consumer. Generally, solutions tend to fail to account for the variety of channels available to consumers and struggle to utilise relevant consumer information and insights.
Indeed, Jim Rossman Senior Resource at General Atlantic, who will join the SessionM board of directors, adds:
“Delivering real-time, personalized marketing across multiple digital channels – particularly on mobile – is an immediate need in the marketplace and we believe SessionM is uniquely positioned to seize this opportunity. SessionM’s proven technology is used today by some of the largest consumer-facing enterprises in the world across nearly every category. We are proud to partner with Lars and the entire SessionM organization as they take on and disrupt legacy players in this emerging and critically important area of mobile marketing.”
Rossman will be adding a track record of over two decades of leadership experience within marketing to the board. He has previously held the position of President and COO at AKQA and COO at Digitas.