PayPal backs Irish startup Pulsate in funding round

Irish startup Pulsate has gained the backing of global payments company PayPal as well as government agencies and a leading investment fund as part of a $1.5m (€1.34m) funding round.

PayPal backs Irish startup Pulsate in funding round

The Dublin-headquartered mobile marketing software company founded by Patrick Leddy has closed the round with investment from seed-stage venture capital firm Dunnhumby Ventures, Enterprise Ireland and Delta Partners’ Bank of Ireland Seed Fund.

A number of high-profile investors also participated in the funding round which Pulsate will use to help the company’s expansion, particularly in the US.

Pulsate helps companies interact with customers online and limit consumers’ tendency to discard apps after a short period of time.

“The reality is the majority of apps are only used once, users churn within the first few days and ignore push notifications.

“Customers are in the midst of a mobile mind shift and expect content on demand that is tailored towards their immediate context,” Pulsate chief executive Mr Leddy said.

The Pulsate software claims to ‘solve’ the problem of user churn by simplifying how marketers communicate with their users, allowing them to send highly personalised campaigns that attract and retain users’ attention.

It does this by interpreting mobile signals in real-time, contextualised situations which enables it to better understand customer behaviour and tailor its customer interaction.

Pulsate also unveiled its new “mobile marketing growth stack” consisting of six products from mobile app engagement to conversation tools.

The four-year old company is hoping to tap into the huge projected growth in the industry over the coming years. Pulsate says it is in a strong position to benefit as the sector is slated to increase from $28.6bn a year in 2016 to $98.8bn in just five years.

A number of big-name companies have been sufficiently impressed by Pulsate to join its growing list of clients which includes Heineken, Hewlett Packard and NCR. In addition to its Dublin headquarters, Pulsate also has a US office in San Francisco.

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