Date: March 12th, 2018
SAN FRANCISCO — March 13, 2018 — NETGEAR (Nasdaq: NTGR), the leading provider of networking devices for online game play, the smart home, and the small business environment, has joined Swrve’s Series D funding round. NETGEAR will contribute to the round that was initially led by Summit Bridge Capital and involved a number of previously existing investors.
NETGEAR is a pioneer in the “internet of things” and home networking space. With the Arlo range of smart home security cameras, customers can “keep watch over what they love” from wherever they are and can control this experience directly via the mobile app on iOS, Android and Amazon Fire platforms. Mobile apps are, of course, a central aspect of that strategy, putting “easy-to-use” management of multiple devices into the consumer’s hand.
The decision to invest in the future of Swrve comes in the wake of a successful project during which Swrve was used by NETGEAR to help migrate customers from the basic to premium tiers of the company’s Arlo home security app and service.
Within a campaign delivering discount codes to existing basic tier customers, Swrve was able to both deliver notifications at the optimal time for each user (defined as the time of day when that specific individual was most likely to respond) and also A/B test the message creative in order to optimize effectiveness and deliver the best possible engagement levels.
By using Swrve’s Intent Targeting Engine, NETGEAR was able to send notifications and in-app messages to precisely those users most likely to respond to an upgrade offer. And by creating a multi-screen ‘native mobile’ experience, Swrve enabled NETGEAR to keep prospects within the upgrade process and minimize drop-off.
“Obviously we are hugely excited to welcome NETGEAR to the Swrve investor family,” said Christopher Dean, CEO of Swrve. “There’s no greater endorsement than a commitment to invest in our business on the back of a successful project. We were delighted to deliver for NETGEAR, and we’re even more delighted to have them on board and part of the team.”
“Working with Swrve was a pleasure from start to finish,” commented Tejas Shah, CIO for NETGEAR. “We were very impressed with both the product and the team, and for us it was an easy decision to invest. We look forward to a long and profitable relationship with everyone at Swrve.”
Processing over 12 billion events daily, Swrve's next generation customer interaction platform helps enterprises maximize engagement and monetization by empowering marketers to deliver bespoke mobile experiences to every customer. Swrve provides a comprehensive set of tools that include audience targeting, real-time segmentation, conversations, push notifications, in-app messaging, A/B testing, predictive models, real-time data orchestration, and rich analytics across all marketing channels. Swrve partners with leading brands, agencies and technology partners – including The Guardian, Condé Nast, Warner Brothers, Salesforce, Oracle, and Marketo – and is installed in hundreds of apps across industries, such as retail, media, travel/hospitality, entertainment, sports, games, and banking.