Intercom raises $125M from Kleiner Perkins, with Participation from GV (formerly Google Ventures) and Others

Intercom, the first customer platform for internet businesses, has announced a $125 million Series D round, with a post-money valuation of $1.275 billion. The round was led by Kleiner Perkins, with participation from GV (formerly Google Ventures) and others, including existing investors. Kleiner Perkins Mary Meeker will serve as an Intercom Board Observer.

Messaging platforms have become a preferred mode of communication for many consumers, dramatically changing the expectations they have when dealing with businesses. Intercom has built a suite of messaging-first products that give today’s leading businesses the tools to engage with customers at all stages of the customer lifecycle—from acquisition, to engagement, and support. With its new funding, Intercom will invest aggressively in the development of its customer platform, which today is helping more than 25,000 paying customers replace dozens of point solutions for sales, marketing, and support teams. To-date, Intercom has raised $241 million.

“We’re excited to put this new capital to work for our customers to rapidly mature our existing products, with a special focus on functionality for larger organisations.” says Intercom co-founder and CEO, Eoghan McCabe. “This year, we’re also investing in new machine learning technologies to launch some powerful, market-first smart automation features to help accelerate growth for our customers.”

“The Internet has changed the way businesses connect with customers. Businesses must increasingly be customer-centric and serve users wherever they are, whenever they want,” said Mary Meeker, general partner at Kleiner Perkins. “Intercom enables businesses to have a strong relationship with their customers from first touchpoint to repeat purchase. Its platform unifies customer data and allows sales, marketing, and support teams to have consistently high-quality interactions with the people that use their products.”

Many of Intercom’s customers are seeing material return on investment. When they use Intercom’s Messenger to engage website visitors, conversion rates and sales increase by 82%. Today, Intercom is used by many of the world’s most forward thinking companies—customers include businesses ranging from Sotheby’s, New Relic and Shopify, to companies like Airtable, Coda and Product Hunt.