Plobal Apps Raises $8.5M in Round Led by Elevation Capital and Bessemer Venture Partners

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The total capital raised to date is $14 million

TORONTO, June 16, 2022 /PRNewswire/ – Global Appsa no-code mobile app platform for e-commerce stores, raised $8.5 million, led by Elevation Capital and Bessemer Venture Partners. Elevation and Bessemer also co-led the funding round in 2021, bringing the total capital raised by Plobal Apps to $14 million over the past 6 months.

Plobal Apps enables D2C brands to quickly build and launch their mobile apps, drive installs, engage customers, and increase revenue. With 73% of all e-commerce transactions conducted through a mobile device, shopping experiences are designed for the mobile-first customer. In mobile commerce, mobile apps offer greater personalization for customers, and communication can be tailored based on user interests, location, usage, and behavior. This leads to higher conversion rate, AOV and customer lifetime value.

One of the largest app building platforms in the Shopify ecosystem, Plobal Apps helps merchants drive up to 5x higher conversion rates compared to mobile web.

The company’s mission is to democratize mobile commerce technology to create a level playing field for e-commerce brands globally. For most brands, building apps was expensive, required expertise, and time-consuming. With DIY apps, Plobal Apps has helped solve this problem for merchants. A bigger problem was that after the app was created, these merchants didn’t know how to drive installs and generate revenue. Plobal Apps focuses on what happens after the mobile app is created and aims to make the mobile app the most successful sales channel for a merchant.

“We’ve come a long way in our journey. Brands have now started to realize the importance of a proprietary marketing channel. For many of these D2C brands, personalization and retargeting have become difficult with the increase in policies regulations, and third-party data restrictions With rising acquisition costs and an emphasis on retention, brands are increasing proprietary platforms such as email, text, and mobile. mobile apps to reach their customers and truly own their audience on conversion, deliverability and engagement,” said Atul Poharkar, Founder of Plobal Apps.

Akarsh Shrivastava, Principal of Elevation Capital, said, “At Elevation, we have always been excited about the potential of D2C brands. However, with ever-increasing digital marketing costs and increasingly difficult targeting and marketing, brands need to better own and monetize these customers. . Recent privacy changes have only reinforced these tailwinds. Plobal’s easy-to-build platform, complete with out-of-the-box marketing manuals, helps brands build and operate cutting-edge consumer-facing apps, allowing them to dramatically improve retention, repeat purchases and customer lifetime value. . We are delighted to partner with Atul and the Plobal team.”

Plobal Apps works closely with Shopify mid-market and enterprise customers, with a focus on generating revenue for merchants. With popular and fast-growing brands such as Steve Madden, Goose Creek, Matt & Nat, Koovs and Rare Rabbit as clients, Plobal understands how to drive successful conversions from mobile apps. The company processes millions in the GMV app every month for its enterprise merchants at all levels.

Anant Puripartner, Bessemer Venture Partners, said, “At Bessemer, we believe the future of e-commerce is in apps, as they enable better customer engagement as well as the ability to explore more forms of commerce like streaming. live and influencer based selling. Building an app is just the first step and that’s why we are thrilled to partner with Atul and the whole team at Plobal Apps; not only do they help create mobile apps for their customers in minutes, but they also help them drive adoption, engagement and revenue through the app.”

With a reach of nearly 2.5 million Shopify merchants, Plobal sees a huge market opportunity. Fresh capital from this round will be directed towards building a greater presence in North Americatechnological innovation and the launch of new products.

SOURCE Global Applications

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