Marketing software startup Movable Ink has raised $30 million in a new Series C round.
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Contour Venture Partners, Intel Capital, and Silver Lake all invested in the round.
Movable Ink helps companies create custom visual content for emails and other digital marketing channels. It analyzes data like inventory levels and loyal program information to curate content for emails so that it is personalized in real time and what a particular customer needs to see.
The last time the company raised money was in May 2013 with its $11 million Series B, according to Crunchbase.
“We’ve been very capital efficient for years, it’s kind of in the DNA of the company,” CEO VIvek Sharma said in an interview with Crunchbase News.
Movable Ink wanted to raise money now to bolster its balance sheet and as a bit of “COVID insurance,” according to Sharma. It has also has been looking around for companies that would be good to acquire and would make sense for its growth.
With the Series C, Movable Ink will invest in channel expansion, its partnerships, and its geographic presence. The company plans on expanding in Europe (it’s mostly been in the United Kingdom so far), Australia, and Japan, and is looking at other countries to enter, Sharma said.
The company, which is based in New York, counts brands like Michael’s, DSW, Best Western, and Under Armour among its customers.
Prior to 2013’s Series B, the company raised a $1.3 million Series A round led by Contour Venture Partners in July 2011, per Crunchbase.
Illustration: Li-Anne Dias
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