Weave Raises $37.5M Series C Growth Round Led by Lead Edge Capital
Funding will allow Silicon Slopes-based company to expand their customer experience management platform
LEHI, Utah, Dec. 6, 2018 /PRNewswire/ -- Weave, a customer experience management (CXM) platform, today announced it has completed a $37.5 million Series C funding round led by growth equity firm Lead Edge Capital, with participation from existing investors Bessemer Venture Partners, Catalyst Investors, Crosslink Capital and Pelion Venture Partners.
With the new funding, Weave plans to accelerate its explosive growth in the marketplace and will double its workforce in the next year. In addition, Weave plans to use this growth round to double down on existing markets (dental, optometry and medical) while expanding into new markets, continuing to make its CXM platform available to all types of small and medium-sized businesses. This investment will also accelerate Weave's current growth, which amounted to more than 100 percent in 2018.
Weave's CXM platform creates meaningful and timely customer interactions using personalized customer information across all communication channels. This enables businesses to form stronger relationships with the people they serve. Weave provides a full suite of tools that include SMS, email, marketing capabilities and a proprietary VoIP phone service.
When the phone rings for a Weave user, office staff immediately know whether it is a customer, partner, patient or client, while simultaneously pulling in CRM records to allow the employee to have real-time access to all necessary and actionable customer data. Similar personalized interactions can then continue on the customer's preferred method of communication. Combining Weave's CXM platform with the businesses' CRM database facilitates better relationships with customers, helps grow new business opportunities and vastly improves office efficiencies.
"We are excited to add Lead Edge Capital to the team. This round of funding further validates that putting our employees first and trusting them to build our vision and take care of our customers is a winning strategy," said Brandon Rodman, CEO and co-founder of Weave. "In addition to an amazing product, we are building a great place for people to work. With continual improvements, like our new maternity and paternity policy, we have unprecedented employee engagement and retention rates. We have had zero turnover in our product and engineering teams in the last two years and are looking forward to continuing to hire the best people with this new funding."
As a part of the investment deal, Lead Edge Capital partner Nimay Mehta also has joined Weave's Board of Directors as an observer.
"Weave's full-stack VoIP and customer engagement platform ties together two systems that were historically disparate," said Mehta. "Businesses get the benefit of a system that works seamlessly, while their customers receive a more personalized experience. Whenever a platform allows its users to create meaningful relationships with their customers, you have something truly special, and that's exactly what Weave has done. We're thrilled to be a part of their next stage of growth."
Weave helps bring small and medium-sized businesses closer to the people they serve by combining customer information with modern communication tools to create a truly unique and personalized experience. Launched in 2014 to help local dental offices communicate better with their patients, Weave has since diversified its service offerings to build an entire CXM platform and has grown into other industries. Weave is backed by top-tier investors A Capital, Bessemer Venture Partners, Catalyst Investors, Crosslink Capital, Lead Edge Capital, Pelion Ventures, and Y Combinator. For more information, visit www.getweave.com.
About Lead Edge Capital
Lead Edge Capital is a growth stage investment fund with $1.8 billion under management, and portfolio companies across the internet, software and consumer spaces – including Alibaba Group, Asana, Bazaarvoice, Duo Security, Spotify, Toast, and Uber. Lead Edge Capital offers its entrepreneurs flexible capital and extensive domain expertise via its robust Limited Partner Network, a global advisory group of leading executives, entrepreneurs and dealmakers who have built and run some of the most successful companies. Lead Edge Capital leverages its LPs to connect companies with the customers, partners, talent and advisors needed to accelerate success. Lead Edge Capital was founded in 2009 and is headquartered in New York City.
Director of Marketing, Weave
Moxie Communications Group
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Released December 6, 2018