SMS marketing and message commerce platform Voyage SMS recently announced that it raised a US$10 million round of fresh funding. The LA-based startup also announced its acquisition of conversational messaging platform LiveRecover.
The firm's latest round was co-led by RiverPark Ventures and York IE. Prominent angel investors James Beshara (Clubhouse, Third Love), Patrick Falle (Avalara), and Vin McCauley (Founder of ButcherBox) also participated in the round.
Voyage SMS is a platform that builds text messaging tools for businesses. It helps them reach consumers with call-to-action buttons like "click-to-buy" and offers real-time performance tracking.
The firm will use the new capital for recruitment efforts and product enhancements.
Co-founders Carter Gaffney (former CEO) and Corey Epstein (CIO) launched the SMS marketing platform in 2018. The company's goal was to help clients meet their business goals via simple technology. Those came to include automated drip campaigns, notifying customers about new product launches, offering promotions and discounts, and recovering abandoned e-shopping carts.
The startup reveals some interesting brands currently using its platform, including Birthdate Co., Lokai, and Moon Pod.
Texas-based LiveRecover claims to use conversational SMS marketing to help ecommerce brands recover 21% of their abandoned carts. Powered by real people, LiveRecover contacts, engages, and converts your abandoned carts into sales for you.
Brands using LiveRecover's tools include Cadence, Sanzo, Judy, Mud Wtr, and Thinx. The latter claims to have recovered US$450,000 worth of abandoned carts using the human-powered SMS platform.
According to a statement, the goal of the acquisition is to integrate LiveRecover's technology into the Voyage SMS marketing and commerce platform.
Rev Reddy (CEO at Voyage SMS) said, "This acquisition and new financing takes us one step further in innovating on how brands are able to interact and build deep, long-lasting relationships with their customers."
Voyage SMS declined to share information about the firm's valuation and the price of LiveRecover's acquisition. The company also declined to disclose its previous funding or the total amount of raised capital to date.
Kyle York (co-founder and CEO at York IE) explained that a brand's customer engagement affects its relationship with returning and new consumers.
He mentioned that Voyage SMS had retrieved 20% of abandoned carts with its human-powered SMS. He added, "We are excited to invest in the business and for what's ahead as they merge with LiveRecover. The future is bright."
California-based BirdEye received US$25 million in fresh funding back in February 2017. The platform also claims to power more than 70,000 businesses to date.
Interestingly, Boston-based Klaviyo has raised US$678.5 million to bring advanced multi-channel marketing automation to clients. Over 265,000 brands reportedly rely on Klaviyo's tech, including Chubbies, Custom Ink, and Huckberry.
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