Enterprise Customer Growth, EU Footprint Expansion, and Product Innovation Drive the Company's Success
Iterable, the AI-powered customer communication platform, today celebrated a banner fiscal year of growth and innovation. In addition to eclipsing $200 million in annual recurring revenue, Iterable set the bar for AI product development, with 37 new features released last year, including AI-Powered Predictive Goals, Copy Assist, Explainable AI and Automatic Frequency Optimization, making it the most robust AI offering in the marketing automation space. The company's momentum is fueled by its ongoing global expansion and the steady growth of its customer base, which includes marquee brands such as Fabletics, GitLab, SeatGeek, Airtable, and PGA of America.
With a fast-growing customer base of over 1200 brands from 54 countries globally, Iterable stands out as a driving force of innovation in the marketing automation space. Marketers leveraged Iterable to deliver over 200 billion cross-channel messages and execute nearly 3 million campaigns last year alone. This extensive outreach targeted a diverse user base surpassing 8 billion customer profiles across the globe. Impressively, Iterable activated over 1.8 petabytes of data, and orchestrated over 1.5 trillion API calls last fiscal year, underscoring its unparalleled capacity and top-tier performance in the ever-evolving landscape of customer engagement.
The recent expansion of Iterable's business to Lisbon, Portugal, coupled with the inauguration of their European Data Center in Dublin, Ireland, highlights strategic moves that position Iterable for enhanced operations and accelerated growth in the European market.
"Iterable's disruptive and innovative approach to customer communications is driven by our ambition to both solve and simplify a critical problem for marketers and consumers alike," said Andrew Boni, CEO and co-founder of Iterable. "As we forge ahead, our goal is to build a lasting and expanding company that positions itself on the frontier of marketing technology. We are dedicated to staying ahead of the curve, with our valued customers and partners forming the cornerstone of our innovative journey. Iterable is not just about providing solutions; it's about creating an enduring impact in the dynamic landscape of customer engagement."
The company's success to date and its outlook ahead as the industry's leader in AI and customer joy underscores its ability to shape the future of customer communication and loyalty.
"Iterable's remarkable growth stands as a testament not only to the company's creativity, innovative culture, and exceptional talent but also mirrors the evolving landscape where businesses seek fresh and inventive approaches to connect brands with their customers," said Murat Bicer, Partner at CRV. "They stand out as leaders in the lucrative ($18B) and expanding CRM market. What sets them apart is their commitment to delivering robust, user-friendly AI solutions designed to help today's biggest brands scale their growth. As one of Iterable's earliest investors, we applaud their achievements not just over the past year, but across their impressive 11-year history, consistently providing substantial value to customers through an expanding range of inventive products. We are confident that even more history is yet to be written as they continue to fulfill their mission of delivering customer joy."
According to a recent benchmark survey conducted by Wakefield Research, marketing professionals are rapidly embracing and experimenting with AI especially generative AI in their work. Of the 91% of marketers currently using AI in some capacity on the job, a large majority (67%) see it as more than just a tool for efficiency and productivity they consider it a transformative technological revolution. While most marketers acknowledge the opportunity AI presents, 84% feel ill-equipped with the best tools and are largely intimidated by the technology, along with the increased expectations it brings.
This important research highlights the numerous opportunities and challenges that AI presents areas where Iterable is actively investing to innovate and address. The features in Iterable's expanding AI offering are designed to enhance efficiency and productivity for marketers, so they can have more time for strategic thinking, creativity, and building unique and personal customer experiences. Iterable's differentiated approach to AI focuses on transparency and explainability, building trust and confidence among marketers by enabling users to comprehend the reasoning behind their AI solutions. By ensuring the responsible and judicious adoption of AI by marketers around the world, Iterable is playing a pivotal role in shaping the future landscape of AI and customer communications.
Steve Mastrocola, Senior Director of CRM at SeatGeek, the high-growth technology platform transforming the live event experience for fans, teams and venues, highlights SeatGeek's confidence in foreseeing and adapting to changes with Iterable as their partner, ensuring ongoing meaningful customer connections.
"SeatGeek has been a loyal Iterable customer since 2016. Working with Iterable, we've successfully expanded our reach across multiple channels, driving impressive results in the process. Staying attuned to evolving customer trends and demands is paramount for SeatGeek's success. Through cross-channel marketing and AI capabilities, the Iterable team ensures we stay ahead of the curve in this dynamic industry. We're confident that with Iterable as our partner, we can anticipate and adapt to these changes, ensuring we continue to connect with our customers in meaningful ways, now and into the future."
Fahad Zahid, Head of Brand Digital Marketing at PGA of America, one of the world's largest sports organizations, underscores the transformative impact of Iterable's platform and team:
"As a long-standing Iterable customer, I can confidently attest that their customer communication capabilities have been a game-changer for our team, serving as a catalyst for our growth throughout the pandemic to today. Moreover, Iterable's AI-driven features consistently deliver the efficiency, agility, and intelligence essential not only to reach our customers but also to foster long-term loyalty in today's rapidly evolving landscape. Not to mention that their team and support are unparalleled. We envision a lasting partnership with Iterable, and are looking forward to leveraging their product offerings as we continue to scale our operations."
Other Notable Milestones Company Updates This Year Include:
- Key Product Innovations: The company released 37 new capabilities in the last fiscal year. These launches encompassed a range of advancements, spanning new channel capabilities, UI upgrades, innovative data management solutions, cutting-edge AI-powered features, and more. Read about Iterable's 2023 product innovations in the company's Spring, Summer, Fall, and Winter product releases.
- Global Business and Product Expansion: Iterable introduced a range of global innovative features, including Iterable Global SMS, Flexible Default Locales, and AI-Powered Frequency Management, that empower global brands like Wolt and Secret Escapes to expand their reach. Iterable also announced the opening of a new office in Portugal and the opening of its EU Data Center, ensuring EU-based and multinational brands can confidently build customer trust through enhanced compliance and data security.
- Customers: Iterable continues to expand its customer base, and now has over 1,200 customers globally. The company achieved a remarkable 32% increase in platform users last year, reflecting the growing reliance of marketers worldwide on Iterable to effectively engage their audiences. Explore Iterable's latest customer case studies here.
- Industry Recognition: Iterable received global and industry-wide recognition for its solutions, leadership, and business practices, including: Silicon Review named Iterable CEO Andrew Boni as one of the 30 Innovators to Watch; CMO Huddles named CMO Adriana Gil Miner a Top 101 B2B Marketing Influencer; San Francisco Business Times named Iterable CFO, Will Johnson, as the Bay Area CFO of the Year for Emerging Companies; Gartner recognized Iterable as a Challenger in 2023 Gartner® Magic Quadrant for Multichannel Marketing Hubs, for its ability to execute and completeness of vision; Inc. Magazine awarded Iterable as a Best Places to Work Honoree; San Francisco Business Times named Iterable one of the Best Places to Work in the Bay Area; US News and World Report named Iterable The Best CRM Software in the UK for Customer Service and Support; G2 ranked Iterable #43 on its 2023 list of the Best Marketing Digital Advertising Software Products; TrustRadius recognized Iterable in their Top Rated Awards and Most Loved Awards; Iterable was on the Constellation Research list of B2C Marketing Automation for Small to Midsize Businesses.
About Iterable: Iterable is the AI-powered customer communication platform that helps organizations like Redfin, SeatGeek, Calm, and Box to activate customers with joyful interactions at scale. With Iterable, organizations drive high growth with individualized, harmonized and dynamic communications that engage customers throughout the entire lifecycle at the right time.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240222260464/en/
Contacts:
Lauren Kopulsky
Head of Corporate Communications
comms@iterable.com
