London-based corporate gifting software startup Reachdesk has raised €4.5M in a new funding round held in September 2020, led by Five Elms Capital.
Proceeds from the funding round will be used to contribute to more customer service, product innovation and expand its reach throughout the US, Europe, and the Asia Pacific.
Reachdesk was founded in 2018 by Alex Olley, Meelan Radia, Jay Radia, and Alex Santos. The startup enables sales and marketing specialists to create direct mail and gifting campaigns by integrating offline networks into a company’s current marketing tech stack. It has achieved momentous growth this year, i.e. 2020, multiplying its revenue by four and doubling its headcount since March 2020. Most of the demand comes from B2B sales, marketing, and customer success teams struggling to create memorable experiences with customers.
Co-founder and Head of Revenue and Marketing, Alex Olley was quoted to say, “Because of the pandemic, companies have lost their critical sales and marketing channels. They struggle to deliver the new sales results they need to survive. By creating closer connections with customers, Reachdesk helps companies break through to prospects, accelerate deals, and reduce churn.”
The startup’s platform helps bridge the gap between the physical world of sales and marketing and the rest of the consumer base by using a platform built for modern sales, marketing and customer success teams. A company can link its entire tech stack in 1 click and send campaigns directly through its CRM (consumer relationship management), marketing automation software and also link gifting and direct mail into its prevailing sequences and functioning.
The entire process is completely automated and eliminates the manual load of direct mail and gifting. Reachdesk also enables real-time visibility and ROI (return on investment) analysis of eGifts and offline campaigns. Companies can measure essential data and boost their campaigns across the entire organization, no matter where they are working. These features help them in increasing response rates by up to 6x, saving +20 hours per campaign, and booking 2 extra meetings per SDR per month.
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