OneSignal Raises $50 Million in Series C Funding to Accelerate Global Expansion of Customer Messaging and Engagement Platform
OneSignal, the world’s leading customer engagement platform, secured $50 Million in Series C funding to advance its unified messaging and orchestration capabilities, enhance its mobile data-driven email product, and deepen its geographic footprint in Europe, Asia, and Latin America. The funding brings OneSignal’s total investment since founding to more than $80 million, led by BAM Elevate, an investment division of Balyasny Asset Management with participation from Nimble Partners and existing investors SignalFire and Zach Coelius. They will join OneSignal’s other existing investors, including Rakuten Ventures, Yes.vc, HubSpot, and Y Combinator.
“Every modern business understands the need to have a strong mobile presence and the importance of engaging with customers across multiple channels,” said George Deglin, CEO and Co-Founder of OneSignal. “We’re moving quickly and decisively to meet the requirements of today’s marketers and developers. We’re excited to have BAM Elevate’s backing to help us accelerate our mission to democratize customer engagement for millions of businesses worldwide.”
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The round’s proceeds will be used to enhance OneSignal’s omnichannel messaging & orchestration capabilities. In particular, OneSignal recently released Journeys, a workflow automation tool that allows businesses to customize their customer journeys to automate personalized messaging at scale. Other product focus areas include continued development of best-in-class email messaging capabilities, expanding analytics tools to provide customers with actionable insights, and bolstering the company’s leading position as the easiest-to-use customer engagement platform on the market. The company will also deepen its geographic footprint, particularly in Europe, APAC, and Latin America, with global offices in London and Singapore.
In conjunction with the round, Jamie McGurk also joins the OneSignal board, bringing 20+ years of operating and investing experience. Prior to BAM Elevate, McGurk was a Managing Partner at Coatue Management and spent 7 years as an Operating Partner at Andreessen Horowitz. As an Operating Partner, he built out Andreessen Horowitz’s Corporate Development operating team and helped raise more than $20 billion in financing and close over $20 billion in M&A transaction value for various portfolio companies.
“We are excited to continue supporting OneSignal’s tremendous growth in partnership with Jamie and BAM Elevate. From the beginning, we recognized the strength of OneSignal’s product and the exceptional team they had assembled. We are looking forward to leveraging Jamie’s deep experience in supporting high-growth startups as OneSignal continues to invest in its world-class team and rapid business expansion,” said Ilya Kirnos, Founding Partner at SignalFire.
“Today’s users expect hyper-personalized, relevant, and timely communication across every touchpoint. Creating a multichannel communication strategy is a must and OneSignal allows you to do this quickly and easily,” said McGurk. “It’s an honor to join the OneSignal team and I’m looking forward to working with George and the rest of the leadership team to continue on the great progress the company has made.”
The Silicon Valley-based startup’s founding team was originally part of a mobile game studio that reinvented itself to OneSignal. OneSignal’s team focused on building a customer engagement platform after experiencing the pain of building an in-house messaging system to stay connected with players. Since then, OneSignal has gained significant traction due to its easy-to-use, freemium, and mobile-focused product. Each day OneSignal sends over 10 billion messages on behalf of over 1.7 million users, including companies such as Zynga, USA Today, Bitcoin.com, Sweetgreen, Upwork, and Tribune.
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