This news comes on the heels of its $24.7M Series A round, which will help the company enhance its technology and increase headcount. Here are the top-line bullets you need to know.
Circle, a community platform for content creators, has raised $24.7M in Series A round that drew participation from BoxGroup, Notation Capital, and Tiger Global Management, among others.
HOW’S THE COMPANY PERFORMING?
- New York-based Circle enables creators and brands to bring their content, members, and conversations into one location in order to help them enhance customer engagement.
- The platform caters to 2M members across more than 4,000 communities. Forte Labs, Makerpad, Spi, Nesslabs, and Teachable are included among its client base.
- The company reportedly grew its ARR from $1M in 2020 to $4M this year.
- It has 40 employees, up from 15 at the start of the year.
WHY DOES THE MARKET MATTER?
- The customer engagement solutions market is expected to reach a value of $30.9B by 2026, growing at a CAGR of 12.65%, according to Mordor Intelligence.
- The proliferation of digital touchpoints and channels has increased the demand for solutions to manage customer interactions and communications.
- Customer acquisition costs have skyrocketed amid the pandemic, causing businesses to turn to tools designed to enhance customer loyalty.