River Cities Fund IV portfolio company, Ifbyphone, provider of the leading voice-based marketing automation platform for optimizing revenue generation through call analytics and automation, today announced that it has acquired Mongoose Metrics, a leader in call tracking, measurement and attribution. The company also raised an additional $30 million in new funding, bringing its total to $60 million.
Ifbyphone, Mongoose Metrics Create Undisputed Call Tracking Leader
The addition of the Mongoose Metrics solution to Ifbyphone’s Voice360 platform provides enterprise-level companies and marketing agencies with the industry’s most comprehensive solution for generating, analyzing and optimizing phone leads and voice interactions to fuel meaningful revenue growth. In today’s mobile world, consumers are responding to search inquiries, digital marketing and offline advertising by calling businesses by the billions each month. Ifbyphone’s Voice360 platform is the only solution with the 360-degree analytics and automation capabilities needed to track, score, route and manage these calls to optimize marketing ROI and revenue generation from every channel.
“Thanks to smartphones, phone calls have become the most powerful vehicle for driving revenue in virtually every industry, and businesses and agencies that generate, measure and optimize these high-value calls now have a tremendous competitive advantage,” said Irv Shapiro, CEO of Ifbyphone. “By adding the impressive technology and third-party integrations from Mongoose Metrics to our Voice360 platform, Ifbyphone further extends our unique position in the enterprise market as the dominant provider of call tracking and voice-based marketing automation services and increases our value to our nearly 5,000 customers.”
As part of the acquisition, Mongoose Metrics’ Cleveland office will remain open, representing a second major office location for the Chicago-headquartered Ifbyphone. The Cleveland staff will remain in operation and will continue to serve customers and develop innovative technologies.
“We are extremely excited to become a part of the Ifbyphone team and create a joint organization that is the clear market leader in call tracking,” said Brad Reynolds, CEO of Mongoose Metrics, who will become a member of the Ifbyphone executive team focusing on the integration of the two entities and seamless customer support. “This acquisition represents a tremendous opportunity for our staff, who become part of a world-class company with a track record of spectacular growth, as well as for our customers, who will benefit from the unique call analytics and automation capabilities Ifbyphone provides. The future could not be brighter.”
Game-Changing Voice360 Platform Eliminates Critical Blind Spot for CMOs
This latest $30 million funding round will be used to complete the acquisition of Mongoose Metrics and to fuel the development of innovative call tracking and management technologies for the Voice360 platform. New investor NewSpring Capital joins previous investors Apex Venture Partners, SSM Partners, Origin Ventures, River Cities Capital Funds, I2A and Spring Mill Venture Partners in this latest round of funding.
“CMOs today are under immense pressure to prove how marketing drives revenue growth,” said Glenn Rieger, General Partner of NewSpring Capital. “Yet most CMOs shortchange their value because they don’t understand how their programs generate the most important revenue driver of all: inbound calls. Ifbyphone’s Voice360 platform is the only solution that calculates credit for the phone leads they generate while also controlling how calls get scored and routed to optimize sales opportunities, revenue and marketing ROI.”
Ifbyphone CEO Irv Shapiro recorded a video with more information about the acquisition that is available on the Ifbyphone website at www.ifbyphone.com.