Movable Ink Raises $11 Million In Series B
Based in New York City, Movable Ink that works with clients to create effective e-mail marketing campaigns. Movable Ink has raised $11 million in Series B funding. This round of funding was led by Intel Capital with participation from Contour Venture Partners, Metamorphic Ventures, ff Venture Capital, Silicon Valley Bank, and Wilson Sonsini Goodrich & Rosati. In October 2011 Movable Ink raised $1.3 million in Series A funding, which brings the total funding to $12.3 million.
Movable Ink works with 119 brands including Barclays, Verizon, and RadioShack. Movable Ink works with them to set up targeted e-mail marketing campaigns. They make is possible for brands to run campaigns with relevant and personalized newsletter services.
“Most email campaigns are run on a cycle of two to three months from conception to production. It’s very different from social companies like Facebook, which are pushing live code every day,” said Movable Ink CEO Vivek Sharma. Movable Ink says its platform brings that same kind of speedy “agile development” process that many web developers enjoy to email marketers.
Movable Ink has 24 full-time employees and they are expecting to close the year with 55 or 60 employees. Movable Ink’s growth has mainly been funded by their own revenues. The company went from making a couple hundred per month to six figures in Q1 2012, according to TechCrunch.
The funding will be used to scale international operations. Movable Ink recently hired former Experian executive Matthew Porter to head growth in the U.K. and EMEA.