Friday, 28 August 2015

Ireland's Intercom raised funds

Intercom, the customer communication platform on a mission to make internet business personal, today announced it has raised $35 million in its Series C round, bringing its total funding to $66 million. ICONIQ Capital led the round with participation from Series A lead investor The Social + Capital Partnership and Series B lead investor Bessemer Venture Partners. The company, which saw revenues grow 5x in 2014, will use the new funds to continue investing heavily in building new and existing products on the Intercom platform.

Founded in 2011 in San Francisco, Intercom is a fundamentally new way for internet businesses to communicate with customers, personally, at scale. It's one platform with a suite of integrated products for every team—including sales, marketing, product, and support. This contrasts with the old way where a business uses a tangle of point solutions, like marketing automation or helpdesk products, with every team operating in a silo. This makes it hard for teams to work together and be on the same page, resulting in a disjointed and very impersonal experience for the customer.

Intercom has 7,000 paying customers in over 85 countries, ranging from startups like General Assembly, ZenPayroll and Invision to public companies like, New Relic and Shopify. Intercom’s customers communicate 3 million times per day with over 250 million of their end-users on the platform.

“We’re a product-first company, with 50% of our employees working in R&D,” said Intercom Co-founder and CEO Eoghan McCabe. “We nearly tripled headcount in 2014, and already in 2015 have nearly doubled to over 140 employees. We’ll double globally again over the next 12 months, and build out our platform so every single team in a business can use Intercom for all customer communication.”

"What Intercom have built so far is truly outstanding,” says Mamoon Hamid, General Partner at The Social + Capital Partnership. “They've made incredible progress in the 2 years since we invested in them. I see pretty much all of the great SaaS companies around and they are one of the fastest growing of their generation." By the end of 2015, Intercom will have grown its revenue nearly 100x since its Series A in June 2013.

Read more about Intercom’s growth in the company’s funding announcement blog post at: .