Raises $5 Million in Funding from SoftBank Capital, Verizon Investments, Lerer Ventures and AOL Ventures
NEW YORK – Today ActionX (www.actionx.com) introduced the first mobile commerce platform that connects the dots between mobile customer acquisition and mobile retargeting, giving multi-screen retailers, subscription services, shopping apps, and other brands the tools they need to drive revenue.
In addition, the company closed a venture round, bringing the total raised to $5 million, led by SoftBank Capital, Verizon Investments, Lerer Ventures, AOL Ventures, Golden Venture Partners and select angels. With ActionX’s mobile commerce platform, brands now have the tools to convert their key audiences and drive revenue through the mobile channel.
“Mobile commerce is clearly heating up, with comScore reporting spend topping $10.6 billion in the first half of 2013,” said Joe Medved, Partner, SoftBank Capital. “ActionX developed its mobile platform strictly to drive transactions, which speaks to the expertise and knowledge of their team who have been pioneers in e-commerce for almost 20 years. We are excited to see ActionX’s innovative technology quickly become the standard for the mobile commerce industry.”
“Mobile is fueling the next big inflection point in e-commerce,” says Eric Hippeau, Managing Director at Lerer Ventures. “As brands get more sophisticated in their approach to mobile, ActionX is well positioned to drive important added value for its clients’ multi-channel efforts.”
A Unique Approach to Mobile
According to comScore, m-commerce could surpass $25 billion for the full year in 2013. Retailers, subscription brands, and other app developers are increasingly aiming to drive discovery and downloads of their apps as well as visits to their mobile sites. The stakes are extremely high—to obtain positive returns on ad spend while pinpointing the sources of the highest value consumers in order to drive transactions. ActionX solves this problem—maximizing the lifetime value (LTV) of customers—through a platform that combines ROI-driven customer acquisition solutions with mobile retargeting.
“ActionX offers the solution to a long-standing challenge for mobile—driving transactions,” said Evan Schwartz, co-founder and CEO of ActionX. “The ActionX platform is tuned to drive revenue and subscribers for our clients in an increasingly multi-screen world. Our campaigns are successful because the ActionX platform targets ads and optimizes—in real-time—based on the goal of moving from click to sale.”
Driving Mobile Transactions
Major e-commerce brands such as JackThreads have signed on and are leveraging ActionX to drive success and measurable ROI.
“With nearly half of our sales coming from the mobile channel, we are always looking for innovative ways to reach our audience and drive transactions,” said Ryan McIntyre, EVP Marketing at JackThreads. “Since starting our engagement with ActionX, JackThreads has realized an impressive return on ad spend, and we are excited to expand our partnership as we enter the holiday season.”
ActionX is also working with the leading coupon app SnipSnap to drive engagement and transactions across more than 100 retail brands.
“ActionX has enabled us to reactivate our users in a very cost efficient way,” said Ted Mann, CEO of SnipSnap. “We’re seeing much higher click-through and app-launch rates than we thought possible.”
About ActionX
ActionX was built to transform the way companies drive revenue through the exploding mobile channel. The ActionX platform connects the dots between mobile customer acquisition and mobile retargeting giving brands the tools they need to drive revenue. Founded by seasoned e-commerce veterans, ActionX is backed by SoftBank Capital, Verizon Investments, Lerer Ventures, AOL Ventures, Golden Venture Partners and other top industry leaders. For more information visit www.actionx.com.
