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Mobly, Inc., the pioneering mobile-first software platform that is revolutionizing how brands capture and engage leads at in-person events, has closed $4.3 million in seed funding. This milestone in funding is expected to fast-track Mobly’s mission of revolutionizing how brands capture and engage leads during in-person events in a more efficient and data-driven approach to event marketing.
About Mobly, Inc.
Mobly is a company established in 2023 by Zach Barney and Kris Jenkins. It has its headquarters in Lehi, Utah. The firm operates with a unique niche of serving event marketers who require instant follow-up on sales and improved lead capture.
Mobly’s platform uses mobile app technology to scan business cards and badges, automatically enriching the captured data to generate comprehensive contact information. This data is seamlessly integrated into Customer Relationship Management (CRM) systems, eliminating the need for manual data entry and enabling clients to improve efficiency and accuracy.
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Funding Details
The $4.3 million seed round was co-led by Jump Capital and Eniac Ventures, with participation from Peterson Ventures, which also led Mobly’s pre-seed round. Additional support came from existing investors Tenzing.VC, Peak Ventures, and notable angel investors, including Jeron Paul and Francis Santora.
This diverse group of investors underscores the confidence in Mobly’s vision and its potential to disrupt the event marketing landscape.
The Problem in Event Marketing
Traditional event marketing often involves cumbersome processes for lead capture and follow-up. Marketers typically rely on expensive badge scanners or manual data entry methods, leading to delays and inaccuracies. The industry’s average “Speed to Lead”—the time taken to follow up with a potential customer—has been approximately 11 days, resulting in missed opportunities and decreased return on investment (ROI).
Read also: Doti AI Raises $7M to Transform Enterprise Data Access
Mobly’s Innovative Solution
Mobly solves this by providing a mobile-first platform that brings down the “Speed to Lead” from days to mere minutes.
Key features of Mobly’s platform are:
- Real-Time Lead Capture: Through mobile app technology, business cards or badges at events can be scanned, instantly capturing lead information.
- Data Enrichment: The platform enriches the captured data with more contact and company information automatically, thus giving a full profile of the lead.
- Seamless CRM Integration; Captured and enriched data directly feeds into CRM and marketing automation, thus allowing real-time sales follow-up.
- Analytics and Reporting; Users can manage and analyze event-driven campaigns at scale, understanding performance metrics and ROI.
Impact and Growth
In 2024, Mobly recorded outstanding growth with revenue up by 5 times and user growth by 4 times.
This momentum speaks of the increasing need for innovative event marketing solutions in different sectors. Mobly makes it possible for brands to reach out to their target audiences in a more efficient manner by streamlining lead capture and follow-up processes, thus resulting in higher conversion rates and improved ROI.
Investor Perspectives
The investors have expressed strong confidence in Mobly’s potential to transform event marketing:
Saaya Nath Pal, Partner at Jump Capital: “Event marketing has been underserved by digital transformation, and Mobly’s innovative, scalable solutions are uniquely positioned to lead this space.”
Kristin McDonald, Principal at Eniac Ventures: “When we first met Zach and Kris it was immediately clear they weren’t building just another point solution-they were reimagining a revenue engine from the ground up.”
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Future Plans
With this new injection of capital, Mobly plans to:
- Enhance Product Development: Introduce new features and integrations to further streamline event marketing processes.
- Expand Market Penetration: Seek strategic partnerships and marketing initiatives in order to grow its customer base
- Build Talent: Engineering and sales need to be added to the growing ranks in the company to quickly scale and innovate.
Summary
Seed funding of $4.3 million to Mobly marks the inflection point for event marketing technology. In one fell swoop, Mobly addresses some long-standing pain points with innovative solutions to redefine the capturing, engaging, and conversion of leads in real-time in ways that were considered too time-consuming, inefficient, or ineffective for too long.
