Vibes — a Chicago based mobile marketing company — announced on Wednesday that it has raised $45 million to expand its operations into global markets.
The investment comes from Syniverse, a global technology and services provider for telecommunications providers and multinational companies, in exchange for a minority stake in Vibes.
“This is a landmark moment for our company that will help us unlock new opportunities by expanding our reach into international markets,” said Vibes CEO and Co-founder Jack Philbin in a statement. “We are really excited to work with Syniverse with its deep mobile expertise and global reach.”
Though hardly the first adtech company to enter into the mobile space, Vibes differentiates itself with a cloud-based platform centered entirely around mobile marketing campaigns and boasts an impressive portfolio of household brands.
“Vibes has helped some of the most successful brands, including Chipotle, Home Depot and Gap, unlock additional revenue through targeted mobile marketing campaigns,” said Stephen C. Gray, president and CEO of Syniverse, in the statement. “Together, we are uniquely positioned to help brands around the globe reach more consumers in ways that precisely track the return on their mobile marketing spend and accelerate the shift from lower-ROI email campaigns."
Per the terms of the investment, Vibes’ services will be offered to Syniverse’s customers as part of the latter’s Marketing Cloud offering.
According to Crain’s, the expansion plans will include an increase in headcount from 130 to 150.
Founded in 1998, Vibes raised a $15 million round of funding in 2008. This most recent round brings the company’s total amount of funding to $60 million.
Image via Vibes.
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