Avochato, a business communications software company, recently announced a $5M Series A funding round led by Amity Ventures, with XSeed Capital and several angels co-investing. This brings the total funding for Avochato close to $6M.
Avochato offers a messaging service for customer relationship management that focuses on reaching customers where they are most active – through their mobiles in messaging. The team at Avochato capitalized on the shift from traditional e-mail customer support (which often can be slow and impersonal) to the more engaging, messaging platform.
Avochato launched in 2017 and within a year scaled to 5 employees, hundreds of customers, and over $1M in revenue. Avochato has 4 pricing plans ($49 – $399 per month) based on the number of messages included per package, and an enterprise tier for large customers sending tens of thousands of messages. The company offers custom integrations with other large software companies, such as Slack, Microsoft, and Salesforce, along with thousand of platforms through Zapier.
Avochato intends to use the investment to scale further its sales team, alongside new feature offerings to its clients.
Cyndx Finder Industry Overview:
Of all the companies semantically similar to Avochato, Cyndx Finder analyzed that the median acquisition price is $100M, median funding is $1.9M, and median age is 6 years.
Interesting Cyndx Finder Comparables (Private Companies):
These comparable companies have been generated using Cyndx Finder, a tool for Private Equity firms, Venture Capital Firms, and Investment Banks to analyze the entire Private Company universe and identify the most relevant and appropriate opportunities for acquisitions or market analysis.
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Sources used to verify and support the funding history and company statistics: