We’re thrilled to announce that Spectrm has raised $6.5 Million in our latest funding round. The round was led by 3TS Capital Partners with participation from existing investors including LHV Global, BDMI, North Base Media, and Jens Schumann. It’s another milestone for Spectrm – and for marketing teams looking for new ways to build two-way relationships with their customers on WhatsApp, Messenger, and Instagram DMs.
The investment will fuel our mission to make one-to-one customer conversations at scale available to marketing teams at global brands. The funding will support our leadership position in brand-ready AI tools and integration with CRM systems. Our goal is to keep enabling marketing teams to increase conversion and capture zero-party data which serve as the basis for building the future of consumer lifecycle, segmentation, and retention marketing.
Thanks to our team’s constant hard work and dedication, Spectrm is going from strength to strength, and has experienced monumental growth over the years:
- 3x revenue growth in the last two years
- 8x YoY growth of directly reachable consumers on messaging apps for its customers since launch in 2016
- 152x YoY growth in one to one brand interactions with those consumers in the same period
We would like to share a special thanks to all our customers, including Uber, HelloFresh, Volkswagen, Premier League, and Pandora, for continuing to believe in our product. Without their trust, we wouldn’t have been able to achieve significant YoY revenue growth and messaging volume increases. Based on their constant feedback, we recently launched our Spring Release with a brand new Spectrm platform including more powerful enterprise messaging capabilities and AI Tools. We are building the future of conversational AI and customer engagement together.
Using Spectrm, our clients have experienced 65% consumer response rates and 50% conversion to orders, which have led to exponential revenue and ROAS increases. This success proves the value Spectrm delivers to clients and highlights the growing need for personalized two-way conversations on the messaging channels where customers are, like WhatsApp, Messenger, and Instagram DMs.
The time for growth has never been better- as we believe the market has matured and enterprises are ready to embrace generative AI and conversational marketing. Spectrm patented two domain-specific NLP applications using generative networks in 2020. We integrated GPT in our product since GPT-2, continuously upgrading with each new model and tailoring integrations to enable brand-safe conversational commerce with customers at scale. We know large language models, and the recent explosion of interest fuelled by ChatGPT has positioned us perfectly to capture increased demand.
Being 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. Our ecosystem of partners includes Zendesk, Jellyfish, WPP, and Accenture Interactive, who have been instrumental in scaling major consumer brands on messaging platforms.
“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,” said Max Koziolek, CEO and Founder of Spectrm. “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.”
“Spectrm is defining the conversational marketing category for consumer brands,” added Sever Totia, Partner, 3TS Capital Partners who is joining Spectrm’s board of directors. “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.”
In conjunction with the funding, we warmly welcome new board members Dave Helmreich, Chief Commercial Officer at Innovid (NYS: CTV) and Andy Hunn, a three-time exited founder, who will provide valuable guidance and support as we continue our growth trajectory.
We’re excited to do this with a team of great, passionate people and loyal customers, in a market that is starting to heat up. It’s the best time to build something great, and we’re proud to be at the forefront as a pioneer in the field of conversational AI and messaging automation.
