Homegrown Gainesville tech company Feathr announces $11M in Series B funding
Series B funding yet another benchmark in Feathr’s success in Gainesville
Feathr, one of Gainesville’s stalwart startups and marketing technology provider, has announced its closure on a Series B financing totaling more than $11 million. This round of funding was led by Atlanta-based growth equity firm Fulcrum Equity Partners, along with participation from several existing investors, including Freeman Digital Ventures as well as Florida-based firms Florida Gulfshore Capital and Florida Opportunity Fund (managed by Arsenal Venture Partners). The new funding will enable Feathr to aggressively accelerate enhancements of its product offerings as well as expand its Gainesville-based team to accommodate a rapidly increasing customer base.
This latest round of funding follows an impressive period of growth for Feathr. Over the last 18 months, the company has increased its customer base by 400%, increased its annual recurring revenue by 200%, and added over 40 team members, more than doubling its headcount within the last eight months. Feathr recently expanded into the Nimbus Building in Gainesville’s Innovation District, consolidating their main office and three satellite offices into a new 14,000 square foot space.
“We’re proud to have an organization like Feathr to show the world the talent and opportunities that the Greater Gainesville region has to offer,” Greater Gainesville Chamber President & CEO Eric Godet said. “We’re continuing to build a stronger foundation for future entrepreneurs and businesses to organically grow and succeed.”
Feathr is noteworthy for their leadership’s “Gainesville Thesis,” an impetus for their return to Greater Gainesville in 2015 following a one-year stint in Austin, Texas as part of a funding agreement. Co-founders Aidan Augustin and Aleksander Levental chose to relocate to Gainesville for its quality of life, friendly business culture and outstanding streams of talent with the University of Florida and Santa Fe College.
Feathr is growing a technology platform that helps thousands of professionals in the association and event industries leverage data to create personalized and effective marketing. The company’s platform currently drives membership growth, attendee acquisition, and sponsor promotion for its clients.
“Our mission is to provide our customers with the technology and support they need to continue to grow as well as expand their contributions to their members and industries. This investment is a significant milestone along that path for our entire team. It reflects everyone’s contribution to building a product and organization committed to helping an underserved industry,” said Aleksander Levental, Feathr CEO. “We already are a leader for marketing technology in the association and event space, yet we’re nowhere near done or satisfied. We strive to be a complete and definitive marketing solution provider for our space. The partnership with Fulcrum, as well as the support of our customers, employees, and investors will enable us to deliver on that opportunity.”
“We’re excited to partner with the team at Feathr,” said Fulcrum Partner Frank X. Dalton. “Under Aleksander Levental and Aidan Augustin’s combined leadership, Feathr has seen tremendous growth, positioning them as an industry leader. Our investment to support their current momentum will propel them to continue to deliver innovative solutions to their clients.”
Feathr’s round of funding reinforces their “Gainesville Thesis” and speaks to the opportunities for growth presented by the Greater Gainesville region. The company’s announcement could be a sign of things to come, as Greater Gainesville proves to be a fertile breeding ground for startups and new businesses.
“We’re thrilled that a Gainesville startup has continued to grow and attract investment,” Greater Gainesville Chamber VP of Economic Development Staci Bertrand said. “We look forward to seeing more local companies attract interest and contribute to the success of our community and the Greater Gainesville region.”
Feathr is a digital marketing platform built specifically for the needs of associations and event organizers. Feathr’s products—like Ads, Invites, and Conversations—help customers to leverage modern, data-driven digital marketing channels, with the goals of increasing membership, growing event attendance, driving new revenue streams, and more. Today more than 500 associations and event organizers—from global market leaders such as Informa to regional organizations such as the Texas Society of Association Executives—use Feathr to market thousands of events, initiatives, and member programs to more than one hundred million customers around the world.
The Greater Gainesville Chamber of Commerce has been the voice of business in the Gainesville region since 1924. Representing over 1,300 members that employ more than 80,000 people, the Chamber is leading the effort to make the Gainesville region a global hub for talent, innovation and opportunity. The Chamber is 5-Star Accredited by the United States Chamber of Commerce, putting it in the top 1% of all Chambers nationwide. Learn more at www.GainesvilleChamber.com or call us at 352.334.7100.