Leanplum raises $29M Series C round for its mobile marketing platform

Leanplum started out as a mobile A/B testing platform but has since built on this foundation to become a fully-fledged mobile marketing platform. The company has now raised a $29 million Series C round led by Canaan Partners with participation from existing investors Kleiner Perkins Caufield & Byers and Shasta Ventures. This brings Leanplum’s total funding to $46.4 million to date.

Leanplum says it has tripled its revenue over the past two years and expects to triple it again in 2016. Its customers now include the likes of Tinder, Lyft, Zynga and Macy’s. The company tracking close to four billion events per day and expects that this number will reach 12 billion by the end of the year.

Leanplum plans to use the new funding to expand its sales, marketing and engineering teams and drive its global expansion. It expects that at least some of this growth will come from its new email engagement channel, too. While Leanplum already offered marketers the ability to reach users through push notifications and in-app messages, this new email feature, which came out of beta today, will give its users another avenue to reach users.


Like similar personalized email platforms, Leanplum will let its customers segment and target emails based on location, in-app behavior, purchase history and more. Because it already offers its users the ability to use notifications and in-app messages, marketers will also be able to coordinate their messages across these platforms.

“The holy grail of marketing is understanding the needs of each customer in order to deliver unmatched value at the optimal moment,” writes Momchil Kyurkchiev, Leanplum CEO and co-­founder, in today’s announcement. “Mobile unlocks levels of behavioral intelligence and personalization we never thought possible in the web-only days.”