Regal.io Raises $38.5M To Make Outbound SMS And Calls Part Of The Customer Journey – AlleyWatch

- Advertisement -


- Advertisement -

Online companies spend significant marketing dollars getting prospects on their websites in the hope that they will convert into customers. However, the Baymard Institute recently found that 69.99% is the average documented cart abandonment rate. Any improvement in conversion rates will generate billions of dollars in realizable revenue across the entire Internet ecosystem. Regal.io takes a data-driven approach to improving conversions through its automated SMS and call platform that allows companies to reach potential customers at high-intention moments like checkout. By leveraging data from APIs, native integrations, CRM systems, and behavioral data, Regal.io enables merchants and software vendors to trigger the right message at the right time to drive conversions and continue conversations through their drag-and-drop journey. allows to keep. the creator. The platform also includes a branded caller ID function that allows calls from the brand itself instead of the usual unfamiliar numbers and includes an agent module that acts as an integrated call and messaging tool that enables customer action and communication. Tracks communication. Outbound calling is commonly used for initial sales outreach and cold calls, with Regal.io making it a part of the customer journey. Since its launch in 2020, the company has built a roster of 100+ customers, powering 1M+ conversations a month, and customers using the platform that have seen 25% revenue growth.

- Advertisement -

AlleyWatch caught up with Regal.io cofounder and CEO Alex Levine to learn more about the business, the company’s strategic plans, the latest round of funding, and more…

Who were your investors and how much did you raise?

- Advertisement -

Outbound phone and SMS sales solution Regal.io announced that it has raised $38.5 million in Series A funding led by Emergence Capital. Existing investors Founder Collective and Homebrew also participated, and executives from industry-leading sales and marketing companies including Flex Capital, Inspired Capital, Operator Collective, and Braze, HubSpot, Salesforce and Zoom joined in. Regal.io previously raised an undisclosed $3.6M seed round, bringing the total amount to $42.1M.

Tell us about the product or service that Regal.io offers.

Regal.io is an outbound phone and SMS sales solution built to drive more conversations so that brands can achieve their growth goals faster. Key features of Regal.io’s solution:

The drag-and-drop Regal.io Journey Builder enables managers to trigger and personalize call and text journeys to high-intent shoppers at the right time based on large amounts of real-time event data streamed on Regal.io Is. Data arrives via native integration, or API, and includes customer website usage, CRM data, and other behavioral time series data. Regal.io Branded Caller ID for Cell Phones (as opposed to landline caller ID, also known as CNAM) changes the caller ID on the cell phone from an unknown number to a brand name so that the customer knows who is calling . No customer opt-in or integration is required to make calls to all 400 million cell phones in the US. Regal.io Unified Agent delivers desktop sales teams with an integrated call and text message tool, and timely, intelligent information on where the customer is in the process and where they are stuck.

What inspired the launch of Regal.io?

Following our experience building a phone sales team on traditional omnichannel contact center software, Rebecca Greene (cofounder) at Angie (NASDAQ:ANGI) and I realized there’s a massive under-investment in outbound calling technology, limited That’s how sales and marketing teams can use the channel. We founded Regal.io to build an entirely new technology stack for Power Call, one that will provide a superior customer experience, and the tools for brands to generate more revenue despite this important channel.

How is Regal.io different?

We are focused on using outbound sales in B2C, and most B2C contact center software is focused on customer service. We founded Regal.io to help customers realize the incredible power of calling and have developed innovative technology that enables brands to convert cold calls from unknown numbers to intelligent calls.

Which market does Regal.io target and how big is it?

100+ customers use Regal.io including Angie (formerly Angie’s List), Career Karma, Fidelity Life, Refijet, Ro (Roman’s parent company), Sophie and The Farmers Dog. Regal.io is aimed primarily at “high consideration” consumer businesses such as healthcare, insurance, lending, local services, education and subscription e-commerce, which represent more than half of the consumer economy.

What is your business model?

mother-in-law.

How are you preparing for a possible economic downturn?

Driving growth is a top priority for online brands. As deployment of digital marketing dollars becomes table stake, the focus has shifted to efficiently converting 95%+ potential customers who ‘give up’ the self-service online flow. As our product drives incremental conversions (and thus revenue), brands are continuing to invest heavily in expanding their use of Regal.io to help them achieve their revenue goals.

Driving growth is a top priority for online brands. As deployment of digital marketing dollars becomes table stake, the focus has shifted to efficiently converting 95%+ potential customers who ‘give up’ the self-service online flow. As our product drives incremental conversions (and thus revenue), brands are continuing to invest heavily in expanding their use of Regal.io to help them achieve their revenue goals.

What factors about your business inspired your investors to write checks?

“Regal.io has an incredible founder-market fit. It is rare to find a team that has experience leading large, complex call centers and that has also worked on modern, data-driven, performance marketing and sales teams,” said Jake. “Regal also has one of the strongest product-market fits we’ve ever seen, one of the main reasons it’s growing faster than Zoom at a similar stage.”

“I am impressed by how quickly Regal.io came out of the gate. Regal has a huge opportunity ahead of them, and they are executing flawlessly,” said Satya Patel, a general partner at Investor Homebrew. Told.

“Regal.io is serving a critical market need, and most impressively, I have heard reviews from my other portfolio companies that have become Regal power users.” David Frankel, managing partner at Investor Founder Collective, said.

What are the milestones you plan to achieve in the next six months?

Regal.io revenue has grown more than 4x in the last 12 months, and is projected to grow 3x in the next 12 months.

Regal.io 1 year ago there were 16 people, and today we are 80 people (5x in a year). And the number of employees will double in the next 12 months.

You’re just seconds away from signing up for the hottest list in tech!
Sign up today



Source link

- Advertisement -

Recent Articles

Related Stories