Total amount raised
$52.8 Millions
Latest funding date
01/01/2022
Location
Appcues has successfully raised funding through multiple rounds, with the latest being a Debt Financing round closed on January 31, 2022. The platform offers a no-code solution to help teams track and analyze product usage, publish in-app tours, announcements, and surveys.
With backing from investors like Bridge Bank and NewSpring, Appcues continues to enhance user engagement for SaaS businesses. Keep reading to explore the intricacies of Appcues' fundraising journey and the investors supporting this innovative platform.
What Is Appcues?
Appcues, founded in 2013 by Jackson Noel and Jonathan Kim, is based in Boston, Massachusetts. The company specializes in providing a no-code platform that helps teams track and analyze product usage, and publish in-app tours, announcements, and surveys.
Appcues empowers non-technical teams to measure and improve product adoption without needing a developer. Their platform offers tools for creating personalized user experiences through in-app messaging, emails, push notifications, and more.
With a team of 51-100 employees, Appcues continues to innovate in the user engagement space, making it easier for SaaS businesses to enhance their user interactions and drive product adoption.
How Much Funding Has Appcues Raised?
- Seed Round
- Amount Raised: $1.2M
- Date: December 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their no-code platform and bring their initial product to market.
- Seed Round
- Amount Raised: $2.5M
- Date: February 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their team and accelerate product development.
- Series A
- Amount Raised: $10M
- Date: August 2018
- Lead Investors: Sierra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their operations and enhance their product offerings.
- Series B
- Amount Raised: $32.1M
- Date: January 2022
- Lead Investors: NewSpring
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product innovation, scale global operations, and grow their remote team.
- Debt Financing
- Amount Raised: $7M
- Date: January 2022
- Lead Investors: Bridge Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational expenses and ensure financial stability.
Total Amount Raised: $52.8M. Current Valuation: Not publicly disclosed.
Key Investors
- Bridge Bank
- Details: Bridge Bank is a division of Western Alliance Bank, providing a broad range of financial solutions to small and mid-market businesses.
- Investment Focus Areas: Technology, Life sciences, Commercial real estate
- Notable Investments: Not publicly disclosed
- NewSpring
- Details: NewSpring is a private equity firm that partners with high-performing companies in dynamic industries to catalyze growth. They manage over $2.5 billion across five distinct strategies.
- Investment Focus Areas: Technology, Healthcare, Business services
- Notable Investments: Not publicly disclosed
- Sierra Ventures
- Details: Sierra Ventures is a Silicon Valley-based early-stage venture capital firm investing globally in enterprise and consumer companies.
- Investment Focus Areas: Enterprise software, Consumer technology, Healthcare
- Notable Investments: Not publicly disclosed
- Columbia Partners
- Details: Columbia Partners is an investment firm that participated in Appcues' Series B funding round. Specific details about the firm are not provided in the sources.
- Investment Focus Areas: Not specified
- Notable Investments: Not specified
- Accomplice
- Details: Accomplice is an existing investor in Appcues, participating in multiple funding rounds. Specific details about the firm are not provided in the sources.
- Investment Focus Areas: Not specified
- Notable Investments: Not specified
What's Next for Appcues?
Appcues stands at the cusp of significant growth opportunities, driven by the increasing demand for personalized, self-service product experiences. With $32.1 million raised in Series B funding, the company is poised to accelerate product innovation, scale operations globally, and expand its remote team. This funding will also support the development of new products and device support, as well as the production of educational resources for SaaS professionals.
Future fundraising opportunities seem promising, given the successful Series B round and the company's ambitious growth plans. However, Appcues may face challenges such as keeping up with rapid product innovation, scaling operations while maintaining quality, and competing in a crowded market. Despite these hurdles, the company's focus on product-led growth and its strong investor backing position it well for continued success.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Appcues and gather other critical business insights. Sign up for free and start making data-driven decisions today.
