SessionM, a mobile-first loyalty and engagement solutions company, today announced that it has closed a new $12M investment round led by Causeway Media Partners, a growth equity firm focused on investments in technology and media relating to sports founded by Boston Celtics principal owner Wyc Grousbeck, with additional participation from NTT Docomo Capital, Commerce Ventures and existing investors Highland Capital Partners, Charles River Ventures and Kleiner Perkins Caufield & Byers. The investment is the latest milestone for SessionM, having seen its revenue double every year for the past three years while booking eight consecutive quarters of double-digit sequential growth.
“Our 1,500 app developer clients know that our platform keeps customers and keeps them engaged longer,” said SessionM CEO and co-founder Lars Albright. “Big brands now know that mobile is the central point for customer engagement and isn’t just about apps. With the SessionM mobile enterprise platform, they’re now able to act accordingly across the whole consumer experience to better engage, message and target their most valuable consumers. We do all this while integrating with existing solutions and in the process make the entire marketing stack more intelligent and effective.”
The latest funding will allow SessionM to roll out its new enterprise solutions faster and execute on a growing number of major multi-year deals. Global brands are embracing this approach as they evolve their mobile strategies from generic transactions to building more rewarding, lifetime personal relationships with consumers along the entire customer journey.
Causeway’s Grousbeck agrees. “In our view, the game is often won or lost based on how companies harness the power of technology, and increasingly, mobile. SessionM is helping Fortune 500 companies gain essential advantages by maximizing their mobile strategy. At the Celtics, and across sports properties generally, that passionate personal relationship between a fan and the team has been greatly improved by data and technology. We invest in people first and foremost and the SessionM team is second to none.”