Ifbyphone Acquires Call Tracking Provider Mongoose Metrics
Ifbyphone, provider of a voice-based marketing automation platform, has acquired Mongoose Metrics, a provider of call tracking, measurement, and attribution. The company also raised an additional $30 million in new funding, bringing its total to $60 million.
The addition of the Mongoose Metrics solution to Ifbyphone's Voice360 platform provides enterprise-level companies and marketing agencies with a solution for generating, analyzing, and optimizing phone leads and voice interactions. Ifbyphone's Voice360 platform provides 360-degree analytics and automation capabilities to track, score, route, and manage calls.
"Thanks to smartphones, phone calls have become the most powerful vehicle for driving revenue in virtually every industry, and businesses and agencies that generate, measure, and optimize these high-value calls now have a tremendous competitive advantage," said Irv Shapiro, CEO of Ifbyphone, in a statement. "By adding the impressive technology and third-party integrations from Mongoose Metrics to our Voice360 platform, Ifbyphone further extends our unique position in the enterprise market as the dominant provider of call tracking and voice-based marketing automation services and increases our value to our nearly 5,000 customers."
As part of the acquisition, Mongoose Metrics' Cleveland office will remain open, representing a second major office location for the Chicago-headquartered Ifbyphone. The Cleveland staff will remain in operation and will continue to serve customers and develop innovative technologies.
"We are extremely excited to become a part of the Ifbyphone team and create a joint organization that is the clear market leader in call tracking," said Brad Reynolds, CEO of Mongoose Metrics, in a statement. "This acquisition represents a tremendous opportunity for our staff, who become part of a world-class company with a track record of spectacular growth, as well as for our customers, who will benefit from the unique call analytics and automation capabilities Ifbyphone provides. The future could not be brighter."
This latest $30 million funding round will be used to complete the acquisition of Mongoose Metrics and to fuel the development of innovative call tracking and management technologies for the Voice360 platform. New investor NewSpring Capital joins previous investors Apex Venture Partners, SSM Partners, Origin Ventures, River City Capital Funds, i2A Illinois Accelerator Fund, and Spring Mill Venture Partners in this latest round of funding.
"CMOs today are under immense pressure to prove how marketing drives revenue growth," said Glenn Rieger, general partner of NewSpring Capital, in a statement. "Yet most CMOs shortchange their value because they don't understand how their programs generate the most important revenue driver of all: inbound calls. Ifbyphone's Voice360 platform is the only solution that calculates credit for the phone leads they generate while also controlling how calls get scored and routed to optimize sales opportunities, revenue, and marketing ROI."