TEL AVIV, ISRAEL and BOSTON, MA--(Marketwired - Aug 4, 2016) - Insert, an automated in-app marketing platform, has raised $10 million in Series A financing, led by Battery Ventures, a global investment firm. Insert's existing seed investors, including Shlomo Kramer, a prominent angel investor in Israel, also participated in the round. As part of the financing, Battery Ventures General Partner Itzik Parnafes will join Insert's board.
The company -- whose product is already in use by large financial services institutions and global retailers -- will use the new funds to ramp up product development; sales and marketing; and its overall U.S. presence.
Insert's catalog of pre-built, mobile-app features enable marketers to add new engagement tools to their existing iOS and Android apps in just minutes, without requiring any coding or app store approval. The platform is focused on driving end-users' loyalty and conversion. The dozens of features allow brands to communicate with customers in a personalized way that takes into account their past and real-time interaction with the app. Marketers can now instantly create unique engagement opportunities for different audience segments, such as delivering onboarding processes for new users, offering targeted promotions and more.
"Mobile marketers struggle with the rigidity of apps and what can be described as 'creative lag' -- the time it takes to get any new or modified feature into the end-users' devices," says Shahar Kaminitz, Insert's founder and CEO.
"Insert's platform empowers marketers by providing them the ability to quickly add and test various engagement techniques, without relying on developers. The platform also includes detailed analytics to help marketers further improve their results. We are thrilled to raise this round of funding to double down on product innovation and better serve today's marketers."
For big companies like banks, retailers, healthcare providers and airlines, overcoming this creative lag -- which can take weeks and months -- is critical. As users have become increasingly discerning, they demand more personalized mobile experiences on par with those offered by giant consumer companies like Airbnb and Uber.
"Barclays offers the best in class mobile banking experience in the UK to more than 5 million customers. Key to our business is providing a digital experience that is personalized, dynamic and relevant to the changing needs and interests of our customers," says Ramki Sankaranarayan, Director of Product Management in Digital Banking at Barclays. "Insert's solution is unique in offering this capability. We expect that their innovative in-app marketing and personalization solution will greatly enhance user engagement within our mobile banking experience."
"For big enterprises today, having a mobile app is table stakes. As every business becomes a software business, what will set the winners apart is the ability to deliver customers elegant, unique, and customized experiences on their mobile devices," said Battery Ventures General Partner Itzik Parnafes.
Parnafes added: "Insert's mission is to give every enterprise the ability to rapidly iterate on its mobile app experience, not just companies with large engineering and IT resources. We are excited about the trends converging around Insert and are confident that with Shahar Kaminitz's leadership this is the right team to tackle the problem. We look forward to working with them as they execute this vision and achieve their goals."
Insert was established in 2015 by the people behind Worklight, the world's leading mobile application platform. In 2012, IBM acquired Worklight, which is now IBM MobileFirst.
Insert is the first automated in-app marketing platform. It offers a broad set of must-have features -- "inserts" -- which can be launched into any live app in minutes, with no coding. These pre-built features include videos, banners, messages, surveys and more -- allowing app marketers to better engage, convert and retain their customers. Insert was created to enable mobile marketers and product managers to drive user loyalty and conversion, without writing a single line of code.
The company was founded by the people behind Worklight: the world's leading mobile application platform (now IBM MobileFirst).
For more information visit www.insert.io
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.