CallRail, a fast-growing Atlanta software startup, announced today that it has raised a $75 million growth capital round from Sageview Capital and Leaders Fund.
Essentially CallRail’s software helps companies determine which marketing campaigns and keywords are driving companies to their business. For example, CallRail’s software assigns each source like Yelp or Facebook a unique tracking number. That unique tracking number is then automatically displayed when a customer calls the business after visiting that source on their mobile phone. CallRail also offers call transcription and keyword analysis, so the sales team can go back and see what keywords drove the customer to call the business.
This is similar to what companies are able to do with Twilio APIs. CallRail sets itself apart, however, by targeting small to medium size businesses, with software that starts at a $30 per month subscription.
“We’re not the first company that’s ever done call analytics, but the opportunity we saw was to build it and make it available in a way that every small business can afford to have it,”co-founder and CEO Andy Powell tells VentureBeat.
CallRail has grown quickly since Powell and co-founder Kevin Mann launched the company in 2011, without raising much money. Before today’s round, CallRail had only raised $1.9 million at the end of 2014. The latest round of funding puts CallRail at a reported $160 million valuation, according to the Atlanta Business Chronicle.
Today, 60,000 companies use CallRail’s software, and the company generated $11.8 million in revenue in 2016, according to Inc. magazine’s list of the 500 fastest-growing private companies in the U.S. Powell also claims that the company has been profitable since day one — something he thinks CallRail wouldn’t have been able to achieve in the Bay Area.
“I think in a lot of other places it’s hard to scale a software-as-a-service company that efficiently,” says Powell.
Powell says that CallRail plans to use the latest round of funding to develop offerings for speech analytics and SMS analytics.
CallRail currently has around 105 full-time employees.