Fast-growing Atlanta software startup CallRail announced today that it has raised a $75 million growth capital round from Sageview Capital and Leaders Fund.
CallRail’s software helps companies determine which marketing campaigns and keywords are driving customers to their business. For example, CallRail’s software assigns each source — say, Yelp or Facebook — a unique tracking number. That number is then automatically displayed when a customer calls the business after visiting the source on their mobile phone. CallRail also offers call transcription and keyword analysis so the sales team can go back and see which 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,” cofounder and CEO Andy Powell told VentureBeat.
CallRail has grown quickly since Powell and cofounder Kevin Mann launched the company in 2011, and without raising much money. By the end of 2014, before embarking on this new round, CallRail had only raised $1.9 million. 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 doesn’t think would have been possible 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,” said Powell.
He said 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.