Spectrm – a conversational marketing platform businesses use to automate one-to-one conversations with consumers on social messaging channels – announced a $6.5 million funding round. This funding round was led by 3TS Capital Partners with participation from existing investors including LHV Global, BDMI, North Base Media, and Jens Schumann.
The funding will drive Spectrm’s mission to make one-to-one customer conversations at scale available to marketing teams at global brands. And the capital will support the company’s expansion of its leadership position in brand-ready AI tools and integration with CRM systems to increase conversion and capture zero-party data which serve as the basis of building the future of consumer lifecycle, segmentation and retention marketing.
Spectrm has experienced monumental growth:
— 3x revenue growth in the last two years
— 8x year-over-year growth of directly reachable consumers on messaging apps for its customers since launch in 2016
— 152x year-over-year growth in one-to-one brand interactions with those consumers in the same period
Spectrm’s customer roster, including Uber, HelloFresh, Volkswagen, Premier League, and Pandora, has contributed to the company’s significant year-over-year revenue growth and messaging volume increases. And using Spectrm, clients have experienced unprecedented 65% consumer response rates and 50% conversion to orders, which have led to exponential revenue and ROAS increases. This success underscores the transformative value Spectrm is delivering to clients and highlights the growing need for personalized marketing at scale on social messaging channels.
As a pioneer in the field of generative AI, Spectrm patented two domain-specific NLP applications using generative networks in 2020. And the company has integrated GPT in their product since GPT-2, continuously upgrading with each new model and tailoring integrations to enable brand-safe conversational commerce with customers at scale.
As a multi-year Meta and Google enterprise messaging partner, Spectrm launched on Messenger when it first opened for businesses and continues to work closely with Meta and Google go-to-market teams. The company’s ecosystem of partners includes Zendesk, Jellyfish, WPP, and Accenture Interactive, who have been instrumental in scaling major consumer brands on messaging platforms.
In connection with the funding, Spectrm welcomes new board members Dave Helmreich, Chief Commercial Officer at Innovid and Andy Hunn, a three-time exited founder, who will provide valuable guidance and support as Spectrm continues its growth trajectory.
KEY QUOTES:
“Imagine ChatGPT for marketers, transformed to be brand-ready, predictive, and secure for enterprises, connected seamlessly across all messaging apps like Messenger, Instagram DMs, and WhatsApp, engaging with consumers at scale in private threads. Spectrm combines the power of large language models to understand consumers, with proven best-practices, templates and tools to build conversational journeys and automate direct interaction in messaging apps. It’s the new way for lifecycle, CRM and retention marketers to build relationships that increase revenue and grow customer lifetime value.”
— Max Koziolek, CEO and cofounder of Spectrm
“Spectrm is defining the conversational marketing category for consumer brands. Their vision for the future of one-to-one marketing leveraging all the ubiquitous messaging channels fits well in our portfolio of investing in disruptive personalization platforms. The company’s rapidly expanding enterprise customer base and consistent year-over-year revenue growth confirms their market opportunity. “
— Sever Totia, Partner, 3TS Capital Partners who is joining Spectrm’s board of directors
