Author: Andrew Boni, Co-Founder & CEO
Today, I’m extremely proud to announce that we have surpassed $100 million in Annual Recurring Revenue (ARR). This is a tremendous milestone for Iterable, and an incredible moment for our team, customers, partners, and investors. It’s a true testament to the hard work and dedication of our team, and a key indicator of being at the forefront of a rapidly evolving market. Crossing this significant milestone comes on the heels of our $200 million Series E funding round in June and underscores our continued disruption of the $25 billion global marketing automation industry.
Guided by our core values and commitment to customer-centricity, we’re partnering with brands like Bombas, Cinemark, and Priceline to lead in a more exciting, innovative, and equitable future in tech. We’re redefining marketing and pushing others to do the same.
Our Journey to $100M ARR
Reflecting back on the past eight years, I’m filled with wonder, gratitude, and optimism. Wonder, when I look at all we’ve accomplished in such a relatively short amount of time. Gratitude, for the team who persevered through countless long days and nights to build a platform and ecosystem that has helped to empower our customers. And optimism for what we will accomplish over the next eight years and beyond.
A boiled-down version of the past eight years.
I vividly remember the early days of Iterable; they certainly weren’t easy. They were filled with spectacular highs and discouraging lows. But, driven by a mix of our vision for Iterable and sheer tenacity, we managed to gain early traction. It took us two years to hit $1M of ARR and another two to reach $10M of ARR. I’ll never forget how it felt to pass those exhilarating revenue marks. Eclipsing $100M feels just as incredible. I’m extremely proud of what we’ve built, and incredibly excited to see what we achieve next.
The Digital Transformation
Keeping a pulse on marketing industry trends and consumer preferences has been a priority at Iterable since the beginning. When consumer expectations of brands surged during the pandemic, and businesses were challenged to accelerate their digital roadmaps, we equipped marketers with the tools they needed to stay competitive. When our customers win, we win.
“Consumer expectations for a great experience with brands are at an all time high,” shares Justin LeBlanc, Senior Director of Marketing Messaging at Priceline, “With Iterable, we are able to adapt and optimize our marketing messaging to provide authentic and individualized customer communications.”
From day one, our purpose has been people-first and data-driven—to enrich the relationships between consumers and brands as well as empower brands to create meaningful experiences. Our commitment to customer-centricity and unparalleled innovation in technology differentiates us in the market.
“Time after time, our customers cite their positive experience with the Iterable sales team as a key reason for selecting Iterable,” shares Jan Zeman, Senior Vice President of Sales, America, “Taking pride in how we treat prospects, educate and deliver value is what our customer-facing teams are all about.”
We’re at the forefront of the digital marketing transformation, partnering with some of the most innovative companies around the globe and equipping them with the tools they need to establish deep, authentic, and long-lasting customer connections during a period of tremendous change.
Culture That Allows Ingenuity To Thrive
A diverse workforce is a powerful workforce. Different perspectives lead to increased innovation and create more relevant and thoughtful products, and a better world. We believe building a team with diverse ideas, backgrounds, and skills helps everyone make the best decisions, and makes technology and marketing campaigns more equitable and impactful.
Markita Jack, our Head of DEI, is helping us build a more connected, intentional, and community-oriented culture that creates space for everyone, wherever they are located. “Only when a workplace is designed to support a diverse workforce will it attract one. And, as we know, a more equitable future—one of equal opportunity for people of every race, color, sexual orientation, gender, and ability—is a more profitable one,” says Jack.
From Affinity Groups to Diversity Office Hours to a hybrid work model, we’re taking steps to create an inclusive culture where ingenuity can thrive and employees have access to equal opportunities for advancement. In the last year, we’ve been recognized as the Best SaaS Company to Work For by Future of SaaS Awards, named an Employer of the Year and received Achievement in Promoting Work-Life Balance by the Stevie Awards, and made the list of Bay Area Best Places to Work for the fourth consecutive year.
Unparalleled Innovation in Technology
We believe that product innovation happens most effectively at the intersection of people, process, and technology. Our customer growth is fueled by ongoing product innovations, like:
Aurora, the next generation of Iterable’s user experience, an intuitive design update with a series of analytics, collaboration, and usability enhancements throughout our platform to give customers stronger tools to reach their goals.
New SMS features, like custom domain support, automatic link shortening, and click tracking. We are prioritizing mobile privacy and SMS compliance, including iOS 15 updates.
Brand Affinity™, an intelligent personalization solution powered by Iterable AI, which provides marketers with unique insights into how customers feel about their brand, in real time. Brand Affinity was recently named Product of the Year in the 2021 Sales and Marketing Technology Awards program (The Sammys).
Industry awards and recognition reinforce the impact of our team and technology. In the past year, we’ve been named a Leader in Marketing Automation in the G2 Fall and Summer Reports, Best Overall Marketing Automation Platform by the MarTech Breakthrough awards, and Bela Stepanova, our VP of Product, was awarded the Stevie® Award for Woman of the Year in Technology.
“The marketing technology space is rapidly changing, and is at a pivotal moment with the convergence of digital, AI, and the demand for seamless, memorable, and individualized customer journeys,” shares our newest board member, Stephanie Buscemi, Chief Marketing Officer of Confluent, and former Chief Marketing Officer of Salesforce, “Iterable is guiding some of the world’s most advanced marketers in industries like consumer packaged goods and retail on how to orchestrate rich customer experiences at scale, striking the right balance between privacy and personalization. The Iterable product is ahead of what is a very crowded and noisy marketing technology landscape today.”
Expanding our Global Impact
I’ve always had a straightforward vision for Iterable: Help people. Help brands build relationships. Help marketers connect with customers. Help consumers interact with the brands they love. We deliver on this vision every day, by equipping some of the most innovative companies around the globe with the tools they need to establish deep, authentic, and long-lasting customer connections, and power conversations with billions of people worldwide.
We expanded our operations in 2019, opening our first international office in London. Being in a new time zone allowed us to provide “boots-on-the-ground” support to our growing list of international customers — which now span more than 30 countries around the world. Our EMEA team, which supports our expanding global customer base, has grown 147% year-over-year.
European brands like carwow, Manchester Airports Group (MAG), Mettle, Secret Escapes, and WeTransfer trust Iterable to power their customer connections around the world.
“We’re really excited about our partnership with Iterable and working together in the next phase of growth for Secret Escapes,” said Jen Lang, Chief Customer Officer at Secret Escapes. “This partnership plays a key role in optimizing our marketing strategy to ultimately meet our company goals, as we continue to inspire our customers to escape through relevant, timely, and engaging content.”
Growth Mindset: The Future
Our four company values of trust, humility, balance, and maintaining a growth mindset guide us as we grow, ensuring we never lose sight of the formula that got us here in the first place. As we look forward to continuing our momentum and reaching new milestones in the years ahead, we’re committed to making even more marketers the heroes of their own journeys.