Home / Enterprise / The Irish tech startup Intercom has closed a new funding round of €44m from Index Ventures

The Irish tech startup Intercom has closed a new funding round of €44m from Index Ventures

Ireland based company Intercom has raised a funding of $116 million from Index Ventures, with participation from Social Capital, Iconiq Capital and Bessemer Venture. Intercom operations are equally distributed between San Francisco and Dublin. It is now referred as a product which provides online customer service software companies.

Intercom was founded by Eoghan McCabe, Des Traynor, Ciaran Lee and David Barrett. Eoghan McCabe  Co-founder and Chief executive said

“We’ve been fortunate at Intercom that our core focus on product continues to pay off, Unlike conventional software companies, our technology has generated organic revenue growth, meaning we don’t have to pump a ton of capital into sales and marketing. We can continue to focus on building product to help businesses communicate with their customers in a more personal way.”  He also added that “Integration is one of the big elements of the company’s strategy, integration across a company, integration with your product and integration with your data.”

 

Intercom

 

Intercom’s vice president of product, Paul Adams, said that

“the new funding round significantly increases its valuation, although he declined to give specific figures.”  

Adams also said that

“while the company is not yet profitable, the new funding means that it could choose to be next year.”

Ilya Fushman, general partner at Index Ventures and former head of product at Dropbox said that

“At Dropbox, we were always looking for ways to improve how we talked with customers, A single platform to communicate with our customers throughout their lifecycle would have been our Holy Grail and that’s Intercom. Along with solving this fundamental problem, their relentless focus on the end user and consistent investment in building the best product possible, have led to their rapid and highly efficient growth as a business.”

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