Springbot, a leading eCommerce marketing platform provider and 2015 graduate of the Advanced Technology Development Center’s ATDC Signature program, said it closed a $10 million Series B financing round led by Harbert Growth Partners.
Other participants included existing investors Tech Operators and TTV Capital. Springbot also announced that Wayne Hunter, the managing partner, co-founder, and head of Harbert Growth Partners, has joined Springbot’s board of directors.
Springbot’s eCommerce marketing platform for small to medium-sized online retailers combines the power of marketing automation and marketing analytics to simplify the data, content and multi-channel marketing necessary to drive site traffic, improve conversions and ultimately grow revenue.
Springbot said it will continue to fuel growth through innovation that enables eCommerce merchants to capture share of the $2 trillion global retail eCommerce market. With this financing, Springbot said it will:
- Expand its sales and marketing efforts including launch of a Springbot eCommerce Scorecard available for all online retailers to benchmark their performance versus their peers.
- Develop and launch a marketing data co-op to allow eCommerce marketers to expand their addressable market.
- Strategic product development for Springbot’s “Marketing Robotics” service which includes continued advancements in prescriptive analytics and marketing optimization.
- Launch new strategic partnerships and continue to work with best-of-breed shopping carts, marketing services and social platforms.
- Grow the Springbot team at Colony Square in Midtown Atlanta while continuing to be one of Atlanta’s Best Places to Work.
“This is an exciting time in the Springbot journey made possible by our passionate team and customers,” said Brooks Robinson, Springbot’s co-founder and CEO. “We are dedicated to providing our customers with innovative marketing technologies to help them grow as well as forging new strategic partnerships to increase the overall value of the Springbot platform.”
Harbert Growth Partners funds growth stage companies with defensible positions in large and growing markets, including marketing technology, eCommerce enablement and online retailers.
“A significant and growing market such as eCommerce combined with Springbot’s unique platform represents a highly attractive investment opportunity,” said Wayne Hunter, managing partner of Harbert Growth Partners. “Harbert looks for talented teams and companies with leadership positions in high growth markets, and we are very excited to work with the Springbot team to scale their business and serve its markets.”