Customer Engagement Platform Leanplum Raised $27 Million From Norwest, Others


Multi-channel customer engagement platform Leanplum has confirmed picking up $27 million as an extension to its Series D financing. The round has been led by Norwest Venture Partners and Shasta Ventures, with participation from Kleiner Perkins, Canaan, and Launchub. Before this round, the firm had picked up $47 million in September and it was Norwest Venture Partner who had led the round. The total amount raised by the firm now stands over $125 million.

The company was founded in 2012 by Andrew First and Momchil Kyurkchiev. It offers support to the brands through its mobile marketing platform which includes messaging, the in-app experience. The firm counts big names like Tinder, Grab, Tesco, and Zynga among its customers.

The firm also made a few changes in its top executive roles. Silicon Valley veteran George Garrick has been appointed as President and CEO, and Sheri Huston as a chief financial officer (CFO). Russ Fradin, Chairman of Dynamic Signal, founder, and angel investor will also join Leanplum’s Board of Directors.

Momchil Kyurkchiev, co-founder and CPO of Leanplum talking about the firm and the new CEO said, "Having enabled more than 150 Billion messages in the last year alone, we take pride in the trust that our customers place in us. 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."

Garrick through a statement said, "Many, if not most of the new companies at some point in their growth realize that a management transition makes sense as the requirements for the CEO evolve from the beginning and testing of a company, until its operation and escalation. The board of directors and the founders of Leanplum agreed that such a transition would be appropriate as Leanplum accelerates its growth phase."


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