Mautic Raises $5 Million Series A Round, Led By Underscore.VC and G20 Ventures
Mautic, the leader in open source marketing automation, announces it has closed a $5 million A Round, led by G20 Ventures and Underscore.VC. Earlier this year, the company announced $600,000 in seed funding from the same two investors and, based upon significant traction with customers and Mautic’s open source community, sought to increase their investment.
“Mautic’s open source approach has enabled them to rapidly mature an enterprise-grade solution, and leap ahead of the incumbents in terms of functionality and pace of innovation.”
The company is also announcing that Matt Johnston has joined Mautic’s founding team and will become CEO at the end of 2016. Johnston is currently the Chief Marketing and Strategy Officer at Applause (formerly uTest). An integral part of Applause’s growth since he joined in late 2008, Matt has led the company’s marketing, community management, partner channel, and company strategy. As part of the move, Johnston also joined Mautic’s Board of Directors in early July.
“Adding Matt, with his track record of growing community-driven startups into major disruptive forces, is a great win for Mautic,” said Mautic co-founder and CTO, David Hurley. “We’ve connected seamlessly about Mautic’s vision, and have a shared philosophy for building a great company around an already-strong product and community.”
The funding comes on the heels of Mautic’s major product launch of Mautic Cloud 2.0 earlier this summer. The new version is a leap forward for the two-year old open source project, and enables Mautic to meet the growing demands of enterprises and marketing agencies alike. The new version extends Mautic Cloud beyond just marketing automation enabling companies to market faster, market smarter, and market for less.
“We’ve invested in and seen the disruptive power of open source projects first hand,” stated Michael Skok, Co-founder of Underscore.VC. “The combination of David and Matt, plus the size, growth potential, and stickiness of the marketing automation space, powered by a strong open source community, is a great recipe for success.”
Mautic is headquartered in Boston, and also has an office in Raleigh. The company will use the funds to further build out its engineering team and grow its product suite. It will also invest in broadening support for its rapidly growing customer base and programs for the Mautic open source community.
“The marketing automation market is massive, but there’s been a real lack of innovation in the enterprise segment of this space in recent years,” said Bill Wiberg, Co-founder of G20 Ventures. “Mautic’s open source approach has enabled them to rapidly mature an enterprise-grade solution, and leap ahead of the incumbents in terms of functionality and pace of innovation.”
The Mautic open source project is among the fastest growing in the world of enterprise software:
- More than 50,000 downloads of the open source version
- More than 20,000 additional companies using the free hosted version
- Thousands of contributing developers around the world
- Translated into 24 different languages
- Launched dozens of new features in 2016 alone due to the vibrant community
“As a marketing executive for the past 15 years, I’ve seen first-hand the high cost and operational pain of marketing automation,” stated Johnston. “After meeting David and getting introduced to Mautic, I was blown away by the maturity of the current product, the expansive vision for future products, and the rapid pace with which that vision is becoming reality ahead of the competition.”