Blackthorn.io, the wizard of event management, payment processing, and SMS apps on Salesforce, today announces $16 million in funding - $15M in debt financing with nearly $1M in primary financing. Fueled by its capital raise, Blackthorn.io expects to grow its customer base by 40% by the end of the year.
(Photo : blackthorn.io Twitter Account)
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With a valuation of $75 million, this investment will enhance Blackthorn.io's evergreen stability initiatives to provide a reliable events and payments experience on Salesforce by bolstering its engineering teams and making significant upgrades to its technology. Additionally, with the increased demand for its suite of applications, Blackthorn.io plans to expand its platform functionality and bring new, innovative apps to market alongside mitigating operations in the event of uncertain times.
"Taking an unconventional route for funding has enabled Blackthorn.io to stay focused on our core mission, delivering simple applications that allow our customers to focus on business outcomes rather than cumbersome administrative processes," said Chris Federspiel, CEO and co-founder of Blackthorn.io. "This investment allows us to not only invest in and grow our team but also invest in and grow the solutions we provide for our customers."
Blackthorn.io has hired industry veteran Brett Waters as Senior Vice President of Global Sales to fuel its continued growth. With more than 20 years of sales experience, Waters brings deep expertise from OwnBackup, Conga, SMS Media, and other software companies to Blackthorn.io. In his new role, Waters will lead and motivate the sales team to strengthen and expand business operations, driving a strong breadth of performance across multi-functional teams and addressing diverse market segments. Additionally, Stuart Croft will transition into the new role of Chief Operating Officer, where he will lead initiatives to position the business for growth to $50M ARR.
Blackthorn.io is working to bridge the gap between perception and reality with CRM-native technologies that build upon the digital investment already made by Salesforce users. With 66% of organizations shifting to data-first decision making, Blackthorn.io's Salesforce-native tools, enhanced by technology partners like AWS and Heroku, empower modern organizations to think beyond their immediate goals and provide their constituents with personalized engagement.
For more information on how Blackthorn.io empowers organizations with personalized engagement, visit www.blackthorn.io.
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