Leanplum Raises $27 Million in New Funding and Announces Leadership Changes for Growth
George Garrick joins as CEO Sheri Huston joins as CFO Russ Fradin joins Board of Directors
Leanplum, a leading multi-channel customer engagement platform, announced that it has raised an additional $27 Million as an extension of its Series D growth round. The funding was led by Norwest Venture Partners and Shasta Ventures, with participation from Kleiner Perkins, Canaan, and Launchub, and will be used to bolster Leanplum’s product development and go-to-market (GTM) efforts. The company also announced today the appointment of Silicon Valley veteran George Garrick as President and CEO, and Sheri Huston as chief financial officer (CFO). Momchil Kyurkchiev, co-founder of Leanplum, will assume the role of chief product officer (CPO). Russ Fradin, Chairman of Dynamic Signal and a well-known prolific and highly successful entrepreneur, founder, and angel investor, will also join Leanplum’s Board of Directors.
“With the continued explosion of mobile apps and the role of mobile devices as the key touchpoint for brands to maximize customer loyalty and lifetime value, it’s imperative that brands use powerful and coordinated multi-channel engagement tools to connect with their customers at all times and through all digital channels,” said George Garrick, CEO of Leanplum. “Leanplum is a best-in-class solution that enables brands to engage with their customers in a relevant and personalized manner. As Leanplum continues to grow, I’m excited to oversee its expansion into additional global markets and an expanding total available market (TAM) while strengthening relationships with our existing customers and partners.” As President and CEO, Garrick is responsible for all Leanplum’s operations and personnel globally and reports to Leanplum’s board of directors.
Having served as CEO of both IRI and A.C. Nielsen earlier in his career, Garrick has extensive expertise and experience in consumer behavior, advertising effectiveness and media, enterprise data, and analytics. Over the past 20 years, he has been CEO of a number of venture-backed growth companies in Silicon Valley in media, e-commerce, data/analytics, software/SaaS, and mobile. These include Flycast Communications (IPO 1999), Placeware, Inc. (acquired by Microsoft), Wine.com, and Tapjoy. Huston has held CFO positions at Comscore Networks and LiquiBox, and senior financial leadership roles at Rockwell Automation and IRI.
“Having enabled more than 150 Billion messages in the last year alone, we take pride in the trust that our customers place in us,” said Momchil Kyurkchiev, co-founder and CPO of Leanplum. “George is the right leader for Leanplum,” added Momchil. “His strong management experience with companies at our stage and in our domain will be essential for Leanplum as we continue to drive growth and expand globally.”
In 2019, more than 2 Billion people used an app or website with Leanplum inside, with Leanplum enabling over 150 Billion multi-channel messages. Also, Leanplum’s work with customer Countable won Mobile Marketing Association’s Most Engaging Campaign Award and the company received the MarTech Breakthrough Award in Innovation.