Plobal Tech Inc, which operates a no-code app platform for e-commerce stores Plobal Apps, on Wednesday said it has raised $8.5 million (around 65.4 crore) led by Elevation Capital and Bessemer Venture Partners with participation by Better Capital.
Plobal will use the fresh capital to expand its presence in US, strengthen its technology infrastructure and launch new products. The startup has raised $14 million in funding so far.
Founded in 2016 by Atul Poharkar, Plobal helps direct-to-consumer (D2C) and e-commerce brands build and launch their mobile apps without having to spend money on hiring an external app developer, in a do-it-yourself format. It also helps its clients or the brands using its platform to launch their app, drive installs, engage with users, and, ultimately, generate revenue.
"For many of these D2C brands, personalization and retargeting have become challenging with the increase in privacy policies, regulations and third-party data restrictions. With rising acquisition costs and more focus on retention, brands are doubling down on owned platforms like email, SMS and mobile apps to reach their customers and truly own their audience,” said Atul Poharkar, founder, Plobal Apps.
The startup’s clients include firms like Steve Madden, Goose Creek, Koovs, and Rare Rabbit among others. The platform charges businesses a fixed fee for developing apps on their platform and hands the APK (Android Application Package) to them after development.
Akarsh Shrivastava, principal, Elevation Capital said “With ever-increasing digital marketing costs, increasingly difficult customer targeting and marketing, brands need to own and monetize these customers better. Recent privacy related changes have only made these tailwinds stronger. Plobal's platform with marketing playbooks helps brands build and leverage state of the art consumer-facing apps, allowing them to improve their retention, repeat purchases and customer lifetime values significantly.”
