Intercom attains Unicorn status with USD 125 million funding

Date: 2018-03-28   Author: Saipriya Iyer  Category: #news

Intercom attains Unicorn status with USD 125 million funding

Intercom, a U.S. based technology firm, has reportedly raised funds worth USD 125 million with the objective of investing the same in shipping new products and enhancing its already existing product portfolio. Venture capital firms such as Byers and Kleiner Perkins Caufield seem to have participated in the funding round.

The entire funding valuation apparently brings Intercom’s assets to around USD 1.275 billion – making it a viable candidate to be included among the unicorn tech companies. Launched in 2011 by a group of Irish tech enthusiasts, Intercom assists internet firms in communicating with their consumers regarding sales support and marketing activities. The firm carries out its activities through various media channels including web portals and mobile applications.

It is speculated that the fund proceeds will be utilized for extensively marketing the existing product range that Intercom offers, with an aim to create brands for larger businesses. According to authentic sources, the firm also plans to use the capital for its messenger products such as Facebook Messenger, Whatsapp, Snapchat, and iMessage. The statistics provided by the company claim that customers using the intercom messenger on their web portal have witnessed an increase of 82% in their rate of conversions.

Apparently, Intercom handles nearly 500 million messages through its customer messaging service tool every month. The firm wants the numbers to increase with the next-generation customers, who do not have emails, and have grown with messenger services. According to Mr. Eoghan McCabe, one of the founders of Intercom, while many of the firms focused on creating new technologies for their clients, Intercom concentrated on developing products for a range of businesses.

Intercom carries out its business operations across London, Dublin, and San Francisco. The firm is likely to increase its staff members across all the three locations in the next eighteen months, thereby expanding its business operations.



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Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

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