The funding brings EasySend to a $157M valuation. It was last valued at $31M in September 2020. Here are the top-line bullets you need to know.
EasySend, a no-code platform for building digital customer journeys, has raised $60.5M in a mix of equity and debt financing. The $55.5M Series B round drew participation from Intel Capital, Hanaco Venture Capital, Oak HC/FT Partners, and Vertex Ventures Israel, and the company secured an additional $5M in debt from Silicon Valley Bank.
HOW’S THE COMPANY PERFORMING?
- Israel-based EasySend enables enterprises to digitize manual aspects of the customer journey, such as applications and claims forms, onboarding questionnaires, and customer interactions.
- The company has seen its US revenue grow 10x over the past year.
- It caters to around 100 enterprise customers, including IKEA, Cincinnati, Sompo, Petplan, and VGM.
- The company has offices in the US, Germany, and Israel.
WHY DOES THE MARKET MATTER?
- The global customer experience platform market was valued at $5.3B in 2017 and is projected to grow at a CAGR of 12.7% until 2028, according to Future Market Insights.
- Digital transformation initiatives have accelerated amid the Covid-19 pandemic, increasing the demand for solutions to digitize paper-based and offline processes.
- Customer acquisition costs have skyrocketed in the face of this accelerated digital shift, causing enterprises to adopt customer-focused platforms to boost loyalty and retention.