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Customer.io isn't accepting new investments

Customer.io’s deadline was August 15, 2021

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Customer.io

Automation platform that 2600+ businesses use to engage and retain customers
B2B Information Technology Software Adtech
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Featured image of Customer.io
Fully Funded
$5,000,000
Raised
2,520
Investors
Successfully funded and closed on August 15, 2021.
Invest in Customer.io

Open for investment

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Co-investors
BoxGroup
Early stage VC firm based in NYC
BoxGroup invested in Customer.io in a prior funding round. BoxGroup invests in the pre-seed and seed rounds of financing for early stage companies. BoxGroup invests in startups in many sectors including marketplaces, e-commerce, SaaS, and fintech.
BoxGroup also invested in:
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Pitch Updates 2 Reviews 335
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Closed on August 15, 2021. Information may not be up-to-date. Campaign closed on August 15, 2021. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Peaberry Software Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Customer.io Crowd SAFE Customer.io Form C:A.pdf Customer.io Crowd SAFE.pdf Customer.io Form C.pdf
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Hear from some of the 2,520 investors in Customer.io


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Highlights


$10M revenue
Company had over $10M in revenue in the past 12 months
$1M+ raised
Company has previously raised over $1M in capital
50-199 employees
Company has 50-199 employees on payroll
Leading VC-backed
Company is backed by a leading VC firm
Profitable
Company has been profitable for the past 6 months
  • Crossed $20M in Annual Recurring Revenue in March 2021
  • 74% YoY revenue growth April 2020 to April 2021
  • Cash flow positive since April 2020
  • $3M+ capital raised
  • We serve customers in 94 countries across 6 continents
  • In 2020, 8.2B messages were sent through Customer.io's platform

Problem


Communication is key to building strong relationships but businesses often miss the mark

Marketers want to deliver meaningful customer experiences, but struggle to stitch together the data and tools to make it happen.

For early to mid-stage businesses, great customer experiences are often the difference between winning against large incumbents or failing.

Solution


A communication suite powered by customer data

Companies need insight into how their customers are interacting with them to communicate effectively. Today, Customer.io solves this by:  

1. Aggregating all first-party data a business has about its customers. 

2. Giving tech-savvy marketers the knowledge and tools to automate emails, push notifications, and SMS messages powered by that customer data.

Using Customer.io, businesses now can communicate the way their audience expects.

Product


Automating an engaging customer experience

With a simple integration, customers stream real-time business data into Customer.io. 

Marketers design and send relevant communication, unique to every customer, across email, push notification, sms, whatsapp, and other channels. 

If you can dream it, you can do it. 

Inside the platform, each customer for a business has a profile with data that is always up to date.


The power of Customer.io is in the demographic and behavior based segmentation engine. 

Businesses design their custom logic and rules for who receives messages and when they get sent. 

With robust metrics and testing tools, businesses get feedback and can continually improve.  

With Customer.io, businesses can spend more time on strategy and less on building, allowing them to grow by making strategic data-driven decisions.

What's next on our roadmap?

  • Multiple identifiers: Unlocks merging data in from many different sources into a unified customer view.
  • Mobile SDKs for Android and iOS: Lowers friction for mobile app developers to start using the product and unlocks advanced mobile capabilities.
  • SQL Sync: Direct database connections to simplify or provide another alternative to get data in.

Traction


Customer.io is growing 74% YoY at $21M+ in ARR

Customer.io has accelerated growth by 74% YoY revenue from April 2020 to April 2021

Diversified customer revenue with the largest customer representing only 2.1% of total revenue

New Customers show 125%+ Net Revenue Retention after Year 1 with cohorts continuing to increase for years

Customer retention increasing in most recent cohorts.

Our cash retention is the percentage of MRR received in the last 12 months from customers that were paying us during the same period in the prior year. In calculating cash retention, multi-month contracts are amortized proportionally over the life of the contract. Our cash retention rate for the 12 months ending in April 30, 2019, 2020, and 2021 was 110.2%, 106.0%, and 125.6% respectively.

Customers


2600+ companies trust Customer.io with their messaging

On average, a customer stays with Customer.io for 60 months. 

Our customer lifetime value is $26,036 and we recover the $2,900 it costs to acquire each customer in under one year. 

Business model


We are successful when our customers are successful

Our pricing is simple: we bill based on the number of people a business tracks with Customer.io. This aligns our incentives with our customers. We earn our money when we help them gain more customers. 

Market


Marketing automation expected to be a $47B market by 2027

Customer Engagement merges marketing automation, mobile marketing automation, and email marketing. Solutions in this space are responsible for every interaction between a business and its audience.

Customer Engagement connects companies and their customers on every channel

Customer.io's functionality is often considered Marketing Automation and we're an early leader in a new market: Customer Engagement. Businesses will purchase Customer Engagement Platforms instead of "point solution" marketing automation tools. People now expect companies to have a shared brain and consistent behavior across every interaction they have. Customer Engagement Platforms are the answer.

Source: Verified Market Research

Competition


Empowering early and mid-stage companies with advanced marketing tools

Small Business competitors strip down functionality, forcing companies with advanced needs to migrate as their sophistication grows.

Enterprise-focused competitors have raised hundreds of millions in funding. They abandon growing, but early companies in need of advanced functionality.

These two approaches create a gap in the market for Customer.io to work with companies as early as pre-launch to be the first and last tool they implement to design, build, and automate intricate messaging workflows for every stage of their business.

Vision and strategy


Interacting with a business should feel like they understand you

Customer.io is often the "source of truth" about a businesses customers.  We're creating a future where every customer facing team has a complete picture of a customer so they can make better automated and manual decisions.

We're also focused on building a big independent company and we're not looking to sell. There appears to be a viable path to grow beyond $100m in ARR within 5 years. We'll seek to create liquidity for investors via rapidly evolving private markets or in the public markets. 

Funding


Fundstrapping our way to $100M+ ARR

We've proven businesses can be both capital-efficient and fast-growing. We call that approach "Fundstrapping".


We've grown to 21m+ ARR on $3.54M raised from Oregon Venture Fund, Kima Ventures, Techstars Ventures, Box Group, notable Angel investors like Fabrice Grinda and many others.

Founders


Pioneering using real-time analytics data to trigger messages

The founders met working at a venture-funded startup in New York City. Recognizing that marketers struggled to do their job with no access to message content buried in code, and customer data locked in production databases, they left to solve that through starting Customer.io in 2012.

Note: The company conducts its business through its wholly-owned subsidiary Customer.io, Inc., a corporation formed under the laws of Canada, incorporated on July 20, 2015. Please see our Form C for additional disclosures.

Deal terms


Valuation cap

$400,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

0%

If a trigger event for Customer.io occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$100

The smallest investment amount that Customer.io is accepting.
Learn more

Maximum investment

$500,000

The largest investment amount that Customer.io is accepting.
Learn more

Funding goal

$5M

Customer.io must achieve its minimum goal of $25K before the deadline. The maximum amount the offering can raise is $5M.
Learn more

Deadline
Customer.io needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Peaberry Software Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Customer.io Crowd SAFE Customer.io Form C:A.pdf Customer.io Crowd SAFE.pdf Customer.io Form C.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Customer.io.
Invest
$2,500
Receive
  • Your name listed as “investor” on our website (optional)
Invest
$5,000
Receive
  • Everything above +
  • Limited edition Customer.io t-shirt
Invest
$10,000
Receive
  • Everything above +
  • Customer.io welcome kit that we send to every new team member.
Invest
$100,000
Receive
  • Everything above +
  • Exclusive Q&A session with the CEO

Why others invested

See all reviews (0) See all (0)

I have been an investor in Customer.IO since 2014, have seen the company execute on its plan year-on-year. The C-suite and the Board are world-class.

Profile picture of Ran Raviv
Ran Raviv
Investor
almost 4 years ago

Have used the product daily over the past two years, and found it directly solved our email needs from both marketing and product directions better than other tools. The workflow builder—and especially webhooks inside that—is deeply powerful for non-developer team members to build out what otherwise might require dev time.

Profile picture of Matthew Guay
Matthew Guay
Investor
almost 4 years ago

- Customer.io has accelerated growth by 74% YoY revenue from April 2020 to April 2021 - Diversified customer revenue with the largest customer representing only 2.1% of total revenue - 2600+ companies trust Customer.io with their messaging - Customer lifetime value is $26,036 and they recover the $2,900 it costs to acquire each customer in under one year.

Profile picture of Carlos Deane
Carlos Deane
Active investor
almost 4 years ago

About Customer.io

Legal Name
Peaberry Software Inc.
Founded
Jan 2012
Form
Delaware Corporation
Employees
66
Website
customer.io
Social Media
Headquarters
Google Map location of of Customer.io
921 SW Washington St Suite 820 , Portland, OR
Headquarters
921 SW Washington St, Suite 820, Portland, OR, United States 97205

Customer.io Team
Everyone helping build Customer.io, not limited to employees

Profile picture of Colin Nederkoorn
Colin Nederkoorn
Co-Founder & CEO
Profile picture of Jon Hawkins
Jon Hawkins
Chief Marketing Officer / Chief Revenue Officer
Profile picture of Sonja Beardsley
Sonja Beardsley
Vice President of Operations
Profile picture of Matthew Newhook
Matthew Newhook
Chief Technology Officer
Profile picture of Brian Thomas
Brian Thomas
Vice President of Product
Profile picture of Natalie Onions
Natalie Onions
Vice President of Customers
Profile picture of John Allison
John Allison
Co-Founder & Board Member
Profile picture of George  DeCarlo
George DeCarlo
Board Member
Profile picture of Elizabeth Tse
Elizabeth Tse
Board Member
8 more team members
Colin Nederkoorn
Co-Founder & CEO
Jon Hawkins
Chief Marketing Officer / Chief Revenue Officer
Sonja Beardsley
Vice President of Operations
Matthew Newhook
Chief Technology Officer
Brian Thomas
Vice President of Product
Natalie Onions
Vice President of Customers
John Allison
Co-Founder & Board Member
George DeCarlo
Board Member
Elizabeth Tse
Board Member

Press

Episode 496 | "The Press Covers Exceptions, Don't Compare...
The Startups For the Rest of Us Podcast The Startups For the Rest of Us Podcast
·
May 12, 2020

This interview was recorded several months ago, but is still relevant despite the pandemic. Colin Nederkoorn, the co-foun...

Portland online marketer Customer.io raises $3 million
oregonlive oregonlive
·
Mar 25, 2017

Customer.io, a Portland startup that helps companies manage email marketing campaigns, has raised $3 million in backing. ...

Customer.io Wins the OEN Deveopment Stage Category
Oregon Entrepreneurs Network Oregon Entrepreneurs Network
·
Oct 27, 2016

The company was chosen because it knows its niche, has consistently delivered growth every month since its inception, has...

Market like you're Action Jackson: Customer.io Actions
Silicon Florist Silicon Florist
·
Aug 12, 2016

Yes, yes. I know. We live in a world where there are any number of APIs. And that makes it far easier to do things, commu...

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Customer.io

Customer.io successfully raised $5,000,000 from 2520 investors on August 15, 2021
Profile picture of Shreyash Patodia
Profile picture of Leo Lou
Profile picture of Robert Rose
Profile picture of Baiping Guo
Profile picture of Nathan Chan
Shreyash, Leo, Robert, Baiping, Nathan, and 2515 others invested. 335 Reviews
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