This Tech Firm Knows When “You’ve Got Mail”
There is a large gong in the middle of the sales floor at Movable Ink. Whenever a new deal comes in or a new customer comes onboard, whoever is working on that account hits the gong.
“Towards the end of the quarter it gets real noisy,” said CEO Vivek Sharma while giving a tour of the company’s sprawling midtown Manhattan office. “I think there were, like 25 ‘gong’ings’ at the end of the last quarter.”
Business is great for the now 8-year-old company. Founded in 2010 by Sharma and Michael Nutt, Movable Ink pioneered the concept of intelligent content for email marketers by detecting customer context, processing millions of data points, and generating personalized content in the milliseconds after an email is opened.
Since 2010, Movable Ink has powered more than 400 billion intelligent content impressions. In other words, Movable Ink focuses on the content of the email and the experience users have.
Through the In-State Private Equity Investment Program, the New York State Common Retirement Fund’s commitment of $10 million in 2011 to venture capitalist firm Contour Venture Partners helped provide the early-stage and seed investment that helped Movable Ink get off the ground.
“We built the technology that can detect your context at the moment you open your email. We can know it’s snowing outside, it’s 7 p.m., and you’re on an iPhone here in New York City and let’s tailor the Starbuck’s offer to you. Let’s give you the hot cappuccino because it’s 20 degrees outside,” Sharma said. “That was our starting point.”
Nike, Dunkin’ Donuts, Lenovo, Bloomingdale’s and Spotify count among the more than 450 brands that use Movable Ink’s technology.
“All of the success we’ve had, that’s driving a big return for the New York State investors and we are very happy to do that,” said Sharma.