Springbot Closes $14 Million in Funding; Fueling Future Organic Growth & Acquisitions
Sterling National Bank Leads Financing Effort
Springbot, a marketing automation and attribution platform for online retailers, announced it has closed $14M in financing led by Sterling National Bank. Springbot which recently closed an acquisition of Content Management System (CMS) provider Matcha in December 2020 is poised for organic growth as well as the addition of deeper platform capabilities that are purpose-built for eCommerce.
Springbot’s all-in-one platform is the critical solution for today’s direct to consumer (D2C) retailers to level the playing field against larger competitors. It combines the power of marketing automation, attribution and content across all critical marketing channels to drive brand awareness and revenue growth.
Springbot has had many significant growth milestones including achieving 45% annual revenue growth since the beginning of the 2020 pandemic, acquiring Matcha this past December and being named to the Inc. 5000 List for the third year in a row.
“Our vision since the beginning is to provide our customers with access to the best solutions and service,” said Brooks Robinson, co-founder and CEO. “This is an exciting time in our industry and for our team as we look to continue helping our customers grow while strategically adding value to our platform.”
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“The significant, rapidly expanding eCommerce market, combined with Springbot’s reputation and market leadership, led us to work with the Springbot team,” said Josh Roberts, Innovation Banking Group Co-Head for Sterling National Bank. “Our group works with experienced management teams delivering mission critical, high-ROI technologies to large addressable markets, resulting in successful track records — we found all of that with Springbot.”