Funding Round Reflects Demand for Cloud-Based Communication Tools that Empower Local Businesses to Connect with Consumers
Oakland, Calif., Sept. 26th, 2018 – Broadly, the leading mobile-first chat platform for local businesses, today announced it has raised a $10M Series B round, co-led by original investor Foundry Group and new partner Calibrate Ventures. They are joined by Team Builder Ventures, also a repeat investor.
Broadly will invest the funding into refining and expanding new communications tools that enable local businesses to better connect with mobile-first consumers, who prefer real-time, responsive communications via text, email, and phone. This marks an evolution in Broadly’s product suite, which began with helping local businesses gather social proof of their credibility through authentic online reviews on popular consumer review sites. The company also intends to hire a number of product and technical roles over the remainder of the year and into 2019.
“Consumers today expect the convenience and speed of Amazon, but also want to support the local businesses that are part of their own communities,” said Josh Melick, Co-founder of Broadly. “But most local business owners simply haven’t had the time and opportunity to integrate the tools that would fuel that responsive communication.
We’re developing web chat, mobile apps, and other tools that painters, roofers, pool and spa repair experts, veterinarians, and other local businesses can use to win business and connect with their customers.”
“Small businesses keep the American economic engine accelerating,” said Seth Levine, partner at Foundry Group. “To stay relevant and expand their revenue, local business leaders need simple, easy-to-use software that helps them meet customers where they are: online, on mobile. Broadly’s ability to understand this often analog audience, and their actionable product roadmap, made it easy to see their vision translating to reality.”
“It’s easy to dismiss the SMB market as too broad,” said Kevin Dunlap, partner and founder of Calibrate Ventures. “But just like their big company counterparts, great local businesses embrace great tools that enable seamless operation and communication. Broadly is capable of delivering that innovation.”
In addition to this new investment, Broadly also earned the #107 spot on the 2018 Inc. 500 list of fastest-growing private companies in America.
“We’re thrilled to make the Inc 500 list,” said Melick. “The small business market is one of tremendous range and diversity – and making 107 on the list is validation that others see it the way we do: filled with untapped potential.”
Broadly is a mobile-first communications platform enabling local businesses to engage with customers at every stage of their journey. Thousands of business owners, managers, and team members depend on Broadly everyday to run their businesses from anywhere, in real time. Broadly is a venture-funded startup based in Oakland, CA. Visit broadly.com.