Investors Back Customer Engagement Platform Swell With $8 Million Series A

By James White Friday, March 19, 2021

Interacting with customers is extremely important for small businesses and startup companies. In order to grow and make your business well-known, understanding customer needs and input is essential. Luckily, startup company Swell is building an app that helps businesses and startups stay engaged with their target audience. In a successful series A for the startup app company, investors backed the business to the tune of $8 million.

"The last year really solidifies how much local businesses count on tools like Swell and our growth is proof," said Zeke Kuch, CRO and co-founder of Swell. "Even when businesses were cutting costs due to COVID-19, they kept Swell because it helped them adapt. We're glad we could help so many businesses pivot to a digital approach and empower them to engage with and acquire new customers, even in the face of a rapidly changing world."

Leading the latest round of financing for the startup app company was SkyLab Ventures. Other investors supporting Swell included Teamworthy Ventures and Cultivation Capital. The startup company has raised over $10 million in support of the Swell app since its launch in 2017.

A person drawing a five-star rating.

Building Relationships With Customers

Founded by Kuch alongside entrepreneur Drew Sparks, the startup company offers companies a simplified app to interact with their customers. The app supports customer surveys, text-based invites to review your company, and insights based on the feedback received. In addition to these functions, the app built by the startup company also serves as a unified messaging platform, allowing business owners to send out bulk text messages or emails, start one-on-one chats with individual customers, and receive all messages and inquiries from consumers in one easy location.

Swell claims to have experienced “triple-digit year-over-year growth.” Businesses using the app are said to experience on average a 300% increase in reviews during the first year of service. The startup company claims to have delivered 2.1 million reviews to its users. The app is offered to interested business owners on a subscription basis, with its annual plan running for $199 per year.

Competition in the Consumer Engagement Market

Market research expects the global customer engagement solutions market to value $27.45 billion by 2024. Swell is not the only option in this business space, as companies like Podium and Birdeye offer their own competitive platforms. Podium has raised over $200 million from investors, and Birdeye has garnered another $33 million in support. The industry will likely continue to experience growth as more small businesses turn toward engagement services such as those offered by Swell and its competitors.

About the Author

Headshot of James White

James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.

Related Articles