Based out of Berlin, Spectrm is a conversational marketing platform that helps businesses effectively communicate with their customers, turning conversations into insights and revenue. The company has recently raised $3 million (approx €2.7 million) in Series A funding from international VC fund Runa Capital.
Runa Capital is an international VC firm headquartered in Palo Alto, California that invests in early-stage deep tech (i.e., AI, machine learning, middleware, open-source), B2B SaaS, fintech, edutech and digital health startups.
“We will use it to develop our platform further and invest in our machine learning. This space is still just at the beginning of seeing the fundamental shift to messaging. We also want to increase further our footprint in the US,” Max Koziolek, Co-founder and Chief Executive Officer of Spectrm told Silicon Canals.
AI-powered Conversational Marketing Platform!
Established in 2016, the AI-powered platform helps marketers guide their customers from websites, ads, and messenger apps like Facebook Messenger and WhatsApp to final purchases by streamlining a usually disconnected, multi-touchpoint marketing funnel into a fun and interactive conversation.
Talking about the product, Max Koziolek says, “Our product is a WYSIWYG (What You See Is What You Get) platform to drive growth by designing conversations and connecting them to Messenger, Adlingo (conversational display ads) or other platforms. It’s different as the platform is designed for conversational marketing and growth, not customer service or anything in between. With our cutting edge natural language processing (recognised by Gartner as a cool vendor) we drive results other products won’t see.”
In addition to Gartner, the social media giant Facebook named Spectrm a strategic development partner as well. Founded by Jendrik Höft, Manfred Stellenberg, and Max Koziolek, the German SaaS company focuses on mid-market and enterprise B2C firms in multiple verticals, powering companies like eBay, Purple, Ford, Groupon, Renault, KLM, and others.
Commenting on the event, Dmitry Galperin, Partner at Runa Capital, says, “Conversational marketing is one of those channels. Thus, the solution offered by the Spectrm team is widely relevant across industries. We are excited to support the project .”
6 million interactions per month!
In the past 12 months, the Spectrm platform enabled an average of 6 million interactions per month between brands and their customers. Combined with conversational AI and marketing automation tools to make all that declared data actionable, Spectrm is helping businesses turn messaging into an engine for growth.
COVID-19 impact on Spectrm
The Software-as-a-Service (SaaS) businesses are expected to be more resilient in the face of the coronavirus pandemic, due to their business model. However, Max Koziolek says the COVID-19 lockdown has affected them in a couple of ways
“As we are in the marketing space and some budgets are on hold, so that is constraining, but we also see additional growth as companies want to use the hundred thousands of messages from users as an opportunity to use machine learning to automate the questions and drive growth. That happened especially in the travel industry. When people ask when they can fly again safely, that is a question you want to automate and make sure you follow up once you can offer your service again and make sure they book with you.”
Main image credits: Spectrm
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