Springbot is a data-driven marketing platform for eCommerce retailers that has announced it has raised $15 million in funding led by North Atlantic Capital. Existing investors TechOperators, TTV Capital, Harbert Growth Partners, TechSquare Labs, Forte Ventures, and Silicon Valley Bank also participated in this round.
With this round of funding, Springbot plans to continue developing solutions to support its growth objectives of small to medium-sized eCommerce merchants. Founded in 2012, Springbot is considered one of the leaders in marketing automation for small and medium-sized retailers as it provides tools and resources that are usually only available for larger retailers.
“Our success is directly attributable to the dedicated Springbot team and their passion to help SMB retailers succeed,” said Springbot co-founder and CEO Brooks Robinson in a statement. “We will continue delivering advanced products and solutions for merchants to fuel and grow their retail business. We appreciate the continued confidence from our investment partners and welcome North Atlantic Capital to the Springbot team.”
In the last three years, Springbot’s annual revenue increased 1,640%. And the company has set up partnerships with eCommerce companies like BigCommerce, Magento, Shopify, and WooCommerce.
Springbot also launched a new platform called the Springbot Exchange earlier this year, which is a data co-op for SMB retailers. And Springbot has invested significantly in technology development and partnerships to launch this service. Several of Springbot’s customers have pointed out that they have seen success with the Springbot Exchange’s Audience Expander and Onsite Abandonment tools.
“Using the Springbot platform and joining the Springbot Exchange has already made a significant impact on my business,” added Amber Marker, the founder of the Declan + Crew clothing brand. “We have seen a 10X return on investment. Springbot has helped me take my business to heights I did not think were possible.”