San Francisco-based Swrve added $30 million and a mobile data automation platform to its mobile marketing automation platform today.
Evolution Media Partners (EMP), a partnership of CAA-backed Evolution Media Capital, TPG Growth and Participant Media, and the Ireland Strategic Investment Fund (ISIF), let the funding round. Existing investors Acero Capital and Atlantic Bridge also participated.
Swrve, which intends to use the funding to expand globally and innovate, also acquired Newport Beach, Calif.-based adaptiv.io.
Adaptiv.io, led by CEO David Lee (pictured right with Swrve CEO Christopher Dean) provides real time analysis and actions through its patent-pending crosschannel and crossplatform data automation system for online and mobile marketing.
“Swrve solves real problems for real mobile marketers,” Marco DeMiroz, managing director of Evolution Media Partners, said in a statement. He also joins Swrve's board of directors. He added that Swrve "is helping to make marketing more powerful, more relevant, more targeted and more effective than ever before, revolutionizing how some of the biggest brands in the world interact with their customers.”
Swrve officials claim the product has reached one billion installs. They also announced four-times growth in the third quarter year-over-year, and noted expansion to verticals such as financial services, media and publishing and entertainment.
In June, Swrve released its Predictive Marketing Suite. It claimed to be the first to combine predictive analytics with messaging and conversations for mobile apps. The platform uses behavioral algorithms to predict what app users will do next and then helps marketers present the right message.
Dean told us then that traditional analytics only look at historical behavior. "Predictive analytics/marketing," he said, "anticipates a user’s actions. This opens up so many more possibilities for marketers to engage with customers and offer them the right product at the right moment.”
Swrve’s new Predictive Marketing Suite is integrated into its Mobile Marketing Automation Platform.
With its acquisition of adaptiv.io, Swrve unveiled Swrve Amplify, geared toward helping mobile marketers build omni-channel marketing campaigns informed by real-time data streams.
Swrve officials claim digital marketers should adopt a personalized approach to marketing that goes beyond generic push notifications and blanket in-app messages that can "damage a brand’s reputation." Swrve partners with brands like The Guardian, Condé Nast, Glamsquad, Warner Brothers, Salesforce, Oracle and Marketo. The Swrve platform processes over eight billion events on a daily basis.
Similar acquisitions earlier this year include:
- Teradata acquired mobile marketing automation platform Appoxee to add to its marketing cloud suite
- Oracle bought Maxymiser to help marketers test, target and personalize what a customer sees on a web page or mobile app