29 August 2018, India:
Post-purchase customer engagement platform Narvar has raised $30 million in Series C round of funding. The funding round was led by virtual capital firm Accel.
Existing investor Battery Ventures and new investors Salesforce Ventures, Scale Venture Partners also participated in the funding round.
As a part of deal, Ryan Sweeney, partner at Accel, will join the board of Narvar.
The company will use the fresh capital to ramp up product innovation and R&D efforts while aggressively hiring to support its growing offices around the world.
Amit Sharma, founder and CEO, Narvar, said, “When we started Narvar just a few years ago, we set out to simplify the everyday lives of customers. We recognised a huge opportunity for brands to deliver exceptional post-purchase customer engagement, and have helped retailers realise this vision for more than 300 million people. At the same time, ecommerce adoption has skyrocketed — in fact, more than 70 percent of adults online have interacted with Narvar through the retailers we support, and we anticipate this will continue trending up. We’ll use this new investment to continue developing leading products for our customers while investing heavily in international growth to support global brands.”
Ryan Sweeney, partner at Accel, said, “Accel has proudly been a Narvar partner from the start, and has watched the company’s customer adoption, product innovation, employee culture and global market traction continue to flourish. Over the last few years, Narvar has redefined e-commerce service standards by changing the way brands interact with their customers throughout the entire online purchase lifecycle. We’re confident the company will continue to play a key role in shaping the future of online retail experiences and we’re looking forward to continuing to support Amit and the rest of the team on this mission.”
Charlie Cole, Chief Digital Officer, TUMI, said, “Growing our direct-to-consumer business is a priority for us not only financially, but also strategically as it allows us to engage with a customer long-term and ensure the interactions are on-brand. Differentiating the post-purchase experience represents one of the primary areas where brands can win against the major marketplace players, as it provides an opportunity to delight a customer and build long-term loyalty. Narvar has been an excellent partner for us in accomplishing both goals – driving thoughtful brand interactions and exemplary post-purchase services via their platform.”
Narvar was founded by Amit Sharma in 2012. It is a post-purchase customer engagement platform. It helps retailers inspire long-term customer loyalty, at all steps of the post-purchase journey.
(Image – Narvar)