Urban Airship Nabs $25 Million in Additional Funding
Urban Airship, the Portland-based startup that specializes in helping power mobile app notifications, has raised another $25 million, as the company seeks to further expand beyond its roots.
The new round, which brings total capital raised to $46.6 million, was led by August Capital, along with existing investors Foundry Group, Intel Capital, True Ventures and Verizon.
As part of its growth, CEO Scott Kveton said the company is aiming to work more with brands directly, in addition to its traditional business of mobile app developers.
The power of phones to reach consumers is going to be critical for brands, Kveton said.
“Everybody on the planet is going to have a smartphone in the next five years, and it is never going to be more than three feet away,” Kveton said.
Mobile app notifications, Kveton said, are the latest core means of communication, following in the footsteps of email and text messages. And, he said, they are starting to become a decent business to be in.
As part of the move, Urban Airship has been growing both the amount of staff with marketing backgrounds, as well as the time spent reaching out to brand advertisers.
“Some brands are starting to realize that mobile should be at the center of all of their marketing activity,” Urban Airship chief marketing officer Brent Hieggelke said.
As for Urban Airship, Kveton said the company aims to be profitable by the first quarter of next year, and that the company may look to continue its recent spate of acquisitions.
“We will be opportunistic where and when we need to,” Kveton said. “We’ve got a bunch of money in the bank right now. We’re raising more money. That’s going to give us a war chest.”
Kveton declined to say what value was placed on the company with the new investment, but said he was pleased with the valuation, and that the company aims to double headcount and triple revenue this year.