Relay Network, a Radnor-based personalized mobile engagement company, has received a $30 million growth capital investment from the Philadelphia private equity firm LLR Partners. The capital is expected to be used by Relay Network to accelerate innovation of its customer engagement platform and growth within its three primary vertical markets: health care, financial services and home services.
Relay enables businesses to deliver education and support through individualized mobile feeds that guide customers to take specific actions during key moments. The company has over 30 million active customer feeds, growing at over one million feeds per month. Organizations including Comcast, Independence Blue Cross and Citizens Bank use Relay.
“The customer communication space is primed for improvement, and the stakes are higher than ever,” said Relay CEO and co-founder Matt Gillin. “Despite significant spend in this area, businesses lack an effective and efficient way to engage customers, which leads to revenue loss, customer dissatisfaction and churn. We see a massive opportunity in a large and growing market as businesses look to stay ahead in fiercely competitive industries and meet customers’ demands for effortless experiences.”
Previous investors in Relay Network include First Round Capital, NewSpring Capital and Actua, as well as several individual investors.