US-based mobile marketing technology provider Swrve closed an oversubscribed $30m series C round today co-led by corporate-backed fund Evolution Media Partners (EMP) and the Irish state-backed Ireland Strategic Investment Fund.
EMP is a collaboration between talent agency CAA, growth equity fund TPG Growth, and film and television production company Participant Media. The round also featured venture capital firm Acero Capital and growth equity fund Atlantic Bridge, both existing investors.
Swrve has built a mobile engagement platform that provides digital marketers with tools to grow user engagement, retention and advertising revenue. It disclosed the round alongside the launch of Swrve Amplify, a real-time data product for marketers.
The development of Swrve Amplify was assisted by the acquisition of Adaptiv.io, a US-based mobile data automation platform developer that raised $10m in 2013. The investors in the 2013 round have not been disclosed, but Swrve revealed today EMP was among the company’s backers.
Marco DeMiroz, EMP’s managing director, will join Swrve’s board of directors in conjunction with the funding. He said: “Swrve solves real problems for real mobile marketers.
“We are thrilled to be investing in Swrve, which is helping to make marketing more powerful, more relevant, more targeted and more effective than ever before, revolutionising how some of the biggest brands in the world interact with their customers.”
Swrve has now raised more than $51m since it was founded. Intel Capital, the corporate venturing arm of semiconductor maker Intel, co-led its $6.3m series A round with Atlantic Bridge in 2012, before the two returned for a $10m series B in September 2014 alongside Acero.
Intel had previously contributed to a $2.7m round in 2011 also backed by investors including SV Angel, AIB Seed Capital, Bank of Ireland Start-Up Accelerator Fund and Enterprise Ireland.