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Reachdesk closes $43 million Series B

30 September 21

Reachdesk closes $43 million Series B to bring its world-first global intelligent gifting platform to even more businesses worldwide

As the first and only truly global, data-driven intelligent gifting platform, Reachdesk makes corporate gifting more personalized, reliable and scalable by removing the operational hassles that have plagued the B2B industry
Reachdesk is the fastest-growing gifting platform (up 600% year-on-year), and one of the top five fastest-growing software products in the world according to G2
Typical Reachdesk customers see 42% higher attendance for events, 212% increase in response rate and 30% higher conversions

London and New York, 30 September, 2021: Reachdesk – the leading SaaS platform empowering companies to create and scale their corporate gifting campaigns across the world – has closed $43m in a Series B equity round. The round was led by Highland Europe with participation from Highland Capital, HubSpot Ventures, and RLC Ventures.

As the first, and only truly global, intelligent gifting platform, Reachdesk was launched by Alex Olley, Jay Radia, Meelan Radia and Alex Correia-Santos in 2019 to make corporate gifting more personalized, reliable, and scalable.

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Gifting made easy

Sending gifts to prospects, customers and employees via Reachdesk is as simple as sending an email. Its integrations with thousands of leading SaaS platforms mean gifting can be fully automated and integrated, while its curated global marketplace and logistics network across the US, Canada, UK, Europe, Australia and Asia means these gifts are personalized and unique.

With Reachdesk, operational costs are reduced, response rates are increased, and conversion rates are improved by over 30%. It’s this success that has seen Reachdesk become the trusted advisor for thousands of marketers from worldwide brands including ZoomInfo, ZScaler, Hootsuite, SimilarWeb and many more, across more than 144 countries.

“While corporate gifting has long promised to be the solution to generic, spammy marketing, it has not yet matched the needs or standards of today’s companies and consumers. Reachdesk breaks the mould. Our data-led, AI-powered and integrated approach allows us to be there for our customers at every stage, via one single, simple yet powerful and trusted global platform, said Alex Olley, co-founder and Chief Revenue Officer. “It’s this truly global approach, underpinned by unprecedented reporting, visibility and measurement that has been missing from the industry and is only set to prove even more crucial in the coming months and years. Just like every customer has a CRM, marketing automation, and a sales automation platform, we see a world where every business will need a gifting platform like Reachdesk.”

Delivering moments that matter

Until now, gifting platforms have been notoriously slow to scale and have lacked a human touch. Marketers spend too much time and money attempting to stand out and gain insight into campaigns, through outdated platforms and manual processes, that they’ve lost sight of what matters – the personal impact such campaigns can create.

Reachdesk removes the guesswork and hassle by arming businesses with data-led tools that help them plot campaigns, maximise their ROI and deliver the moments that matter to customers.

Investing to maximize customer value

Reachdesk will use the funding to invest further into product development; to make the platform even more effective and intelligent, enabling marketers to build more effective campaigns by advising them when, how and to whom to send gifts. The funding will also grow Reachdesk’s list of technical integrations, curated marketplace vendors, and global warehouse partnerships as the company expands into new regions.

“With this investment, and the partnerships and opportunities our new investors bring, we can double down on the areas that have driven Reachdesk’s incredible growth – from our truly global reach, to our unique, curated, personalized gifting marketplace and our market-defining ROI and tracking tools,” said Temy Mancusi-Ungaro, CEO of Reachdesk. “We look forward to continuing the momentum of the past 12 months and further cementing ourselves as the go-to trusted advisor for some of the world’s biggest and most innovative marketing teams.”

“The Reachdesk team truly understands the pain points faced by companies looking to break through to customers with effective marketing campaigns and has built a single solution that acutely addresses these,” said Laurence Garrett, partner at Highland Europe. “Every team member is passionate about making corporate gifting work for everyone involved, and has a unique take on it, one that is set to capitalize on the potential in this space, and become a clear market leader.”

“Finding a partner to support us with global direct mail was an important part of our strategy," said Hussam AlMukhtar, Senior Director of Strategic Marketing at ZoomInfo. "With Reachdesk as our partner, we’ve been able to positively influence the sales pipeline, land some of our biggest new accounts, and successfully expand globally.”

Furthering record-setting growth

Reachdesk is on track to 4x its business this year, which comes off the back of record 600% year-on-year growth. This growth has seen the company named as one of the top five fastest-growing software products, worldwide, within an industry worth $235Bn in the US and UK alone.

"We’ve been impressed by the success the Reachdesk team has had in a short amount of time," said Andrew Lindsay, SVP of corporate & business development at HubSpot. "We're excited to partner with them as they build out a new and exciting marketing channel around personalized customer sends."

Reachdesk is loved by its employees with a five-star Glassdoor rating and 100% of employees recommending it to a friend. Since 2020, the firm’s team has grown 500% with plans to more than triple by the end of 2022. It currently has offices in London, New York, and Lisbon and looks to expand its presence across the US, Australia, New Zealand and APAC later this year.

About Reachdesk

Reachdesk enables companies to deliver moments that matter at scale, globally, throughout the entire customer lifecycle. Through Reachdesk companies can deliver gifts and direct mail that build deeper connections with customers, prospects and employees at the click of a button. Our integrations to your tech stack power a clear and quantifiable ROI; the direct channel is no longer a guessing game.

About Highland Europe

Highland Europe invests in exceptional growth-stage software and internet companies. Active in Europe since 2003 as Highland Capital Partners and formally launched in 2012, Highland Europe has raised over €1.8 billion and has invested in companies such as Adjust, Camunda, ContentSquare, Featurespace, GetYourGuide, Malwarebytes, MatchesFashion, Modulr, NewVoiceMedia, Nexthink, Smartly.io, Talentsoft, WeTransfer, Wolt and Zwift. Highland’s collective history of investments across the US, Europe and China includes 46 IPOs and 40 billion-dollar-plus companies.

About Highland Capital Group

Highland Capital Partners is a global venture capital firm with offices in Boston, Silicon Valley, and San Francisco. Highland Capital has raised over $4 billion in committed capital and invested in more than 280 companies, with 51 IPOs and 138 Acquisitions.

About HubSpot Ventures

HubSpot Ventures is a $30 million investment fund for startups that align with HubSpot’s mission to help millions of organizations grow better. The venture fund provides resources that go well beyond capital, including access to expert advising and first-rate business tools that help its portfolio companies grow. Through this fund, HubSpot seeks out startups that take the long-view on success by building long-term customer relationships, investing in an inclusive company culture, and delivering highly differentiated products. The fund supports companies that will not only produce a positive return over time, but also expand the impact of HubSpot’s philosophy of growing better.

About RLC Ventures

RLC Ventures (www.rlc.ventures) is an early-stage VC fund based in the UK. They invest in the most ambitious software companies that are transforming the worlds of Work, Play and Finance.

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