A customer engagement solution based in California, OneSignal, has secured $50 million in Series C funding.
With this round, the total investment raised by the company accounts for over $80 million. The round was led by BAM Elevate, an investment division of Balyasny Asset Management alongside participation from Nimble Partners and existing investors SignalFire and Zach Coelius.
Expansion to Europe and UK
OneSignal plans to use the money from this round for further development. Their initial purpose for raising capital was to improve their messaging and coordination abilities. They also plan to further develop their mobile email system driven by mobile data. Additionally, they plan to increase their presence in several different regions around the world: Europe, Asia Pacific and Latin America— with offices already operating in Singapore and London, in addition to their headquarters in San Mateo, California.
Jamie McGurk joined the OneSignal board after making an investment in BAM Elevate. McGurk has over 20 years of experience as an investor and operator, having worked as a partner at both Andreessen Horowitz and Coatue Management.
SignalFire is pleased to partner with OneSignal and Jamie in partnership with BAM Elevate. The company noted the strong product and great team they had when they first started working together. Plus, SignalFire appreciates Jamie’s knowledge of supporting high-growth startups as OneSignal expands its business and staff.
In a statement, McGurk said, “Communication between users and businesses must be hyper-personalized, relevant and timely across every touchpoint.” He continued: “Creating a multi-channel strategy for communication is imperative and can be easy with OneSignal. I am pleased to join the team and work with George and the other leaders at OneSignal to continue their progress.”
Founded By Y Combinator Alumni
When George Deglin saw a gap in the app development space, he founded OneSignal as a mobile app development company. Alongside Long Vo, another Y Combinator alumnus, the startup became a customer engagement platform.
OneSignal is a mobile platform focused on mobility. It provides businesses with tools for message delivery across different channels such as SMS, email and app notifications. Additionally, it allows users to centralize their customer communications within the platform. Campaigns can be customized based on metrics, which helps improve open rates. Recently, OneSignal launched Journeys— an automation tool that allows businesses to customize their messaging at scale. This tool automates different customer journeys and workflow processes.
The company has more than 1.7 million developers and marketers using their platform. Additionally, nearly 6,000 paying customers use their services. It offers a freemium plan that limits certain features, but there is no limit on the number of users or push notifications customers can send.
