Intercom, the customer communication platform on a mission to make internet business personal, today announced it has raised an additional $50 million, bringing its total funding to $116 million. Index Ventures lead the round, with participation from previous investors ICONIQ Capital, Bessemer Venture Partners, and Social Capital.
The fast-growing company, which in the last year doubled overall headcount to 250 and grew revenues 4x into the 10s of millions of dollars, will use the funds to continue investing in new and existing products on the Intercom Platform. According to the Intercom team, the young company is now fully funded and won’t need to raise further funds to reach profitability.
Founded in 2011 by an Irish team in San Francisco, Intercom is a fundamentally new way for internet businesses to communicate with customers personally, at scale. It’s one platform with a suite of integrated products for every team—including sales, marketing, product, and support. This contrasts with the old way where a business uses a tangle of point solutions, like marketing automation or helpdesk products, which leads to teams operating in silos and customers receiving disjointed and impersonal experiences.
Intercom now has over 10,000 paying customers in over 90 countries, up from 5,000 in April 2015, ranging from startups like Expensify and Trunk Club to public companies like Rackspace and IBM. Intercom’s customers communicate millions of times per day with 500 million of their end-users on the platform. Last year Intercom spent 85% of its revenue, and had 50% of its headcount, on R&D.
Intercom Co-founder and CEO Eoghan McCabe stated: “Unlike conventional software companies, the strength of our technology has generated incredible 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.”