A customer engagement solution based in California, OneSignal, has secured $50 million in Series C funding. With this round, the total investment raised by the company accounts for over $80 million. The round was led by BAM Elevate, an investment division of Balyasny Asset Management alongside participation from Nimble Partners and existing investors SignalFire and Zach Coelius.
To expand in Europe and UK
OneSignal will use the proceeds of this round to advance its unified messaging and orchestration capabilities, enhance its mobile data-driven email product, and deepen its geographic footprint, especially in Europe, APAC, and Latin America. Already, the company works via offices in London and Singapore in addition to its headquarters in San Mateo, California.
In addition to the investment, Jamie McGurk also joined the OneSignal board, bringing over 20 years of operating and investing experience. Prior to BAM Elevate, McGurk was a Managing Partner at Coatue Management and an Operating Partner at Andreessen Horowitz.
“We are excited to continue supporting OneSignal’s tremendous growth in partnership with Jamie and BAM Elevate. From the beginning, we recognised the strength of OneSignal’s product and the exceptional team they had assembled. We are looking forward to leveraging Jamie’s deep experience in supporting high-growth startups as OneSignal continues to invest in its world-class team and rapid business expansion,” said Ilya Kirnos, Founding Partner at SignalFire.
“Today’s users expect hyper-personalised, relevant, and timely communication across every touchpoint. Creating a multichannel communication strategy is a must and OneSignal allows you to do this quickly and easily,” said McGurk. “It’s an honor to join the OneSignal team and I’m looking forward to working with George and the rest of the leadership team to continue on the great progress the company has made.”
Founded by Y Combinator alumni
OneSignal was founded in 2014 as a mobile app development company by Y Combinator alumni – George Deglin and Long Vo. It emerged into a customer engagement platform when Deglin saw an opportunity to address a challenge in app development.
It is a mobile-centric platform with tools designed to let businesses automate message delivery across channels such as SMS, email, and app notifications and in-app messages. Users of the platform can centralise customer communications within the platform itself, customising their campaigns based on metrics. This will help them improve open rates. OneSignal recently released Journeys, a workflow automation tool that allows businesses to customise their customer journeys to automate personalised messaging at scale.
OneSignal has over 1.7 million developers and marketers on the platform and nearly 6,000 paying customers. It offers a freemium plan, which limits certain features but there is no cap on the number of users or messages that customers can send push notifications to.
