Vancouver-based SaaS business Unbounce has raised $39m in its first major funding round.
Today (17 June), Canadian SaaS business Unbounce announced the close of its first major funding round, led by Crest Rock Partners, where it raised $52m CAD, or around $38.4m.
Headquartered in Vancouver, Unbounce provides an AI-powered platform that enables small and medium businesses to create and optimise high-converting landing pages without the need for a developer.
The start-up, which was founded in 2009, also announced that its chief revenue officer, Felicia Bochicchio, will be stepping into the role of company president.
Steve Johnson and Jeff Carnes, partners and co-founders of Crest Rock Partners, will join the start-up’s board of directors.
Unbounce said that the funding comes at a time when businesses around the world are “prioritising digital as their main channel for new sales and growth”.
It plans to use the fresh capital to accelerate the delivery of accessible conversion optimisation tools. The company, which currently has a team of 200, also plans to increase its headcount by 50pc over the next three years.
Rick Perreault, CEO and co-founder of Unbounce, said: “This capital will help us increase our investment in machine learning, advance our platform and give small businesses the powerful growth advantage they desperately need, today more than ever.”
Perreault added that the start-up’s ability to raise money during uncertain times “validates the philosophy that Unbounce was founded on and will continue to live by”.
Unbounce has recently launched a conversion tool called Smart Traffic, which it said has fuelled growth for the business.
Some of its customers include Hootsuite, Zola and World Vision. Unbounce said that it has reached more than 1bn conversions on behalf of its customers.
Johnson, from Crest Rock Partners, said: “In a world where small and medium-sized businesses (SMBs) are struggling, Unbounce gives SMBs an easy-to-use software application at an accessible price that significantly increases their competitive advantage.”