Blog post

Announcing Our $25M Series B

Announcing Our $25M Series B
Written byGeorge Khachatryan & Victor Kostyuk
Published14 Nov 2023

We’re incredibly excited to announce that OfferFit has raised a $25M Series B round, led by Menlo Ventures!

What does this financing mean for OfferFit? More growth, more product development!

We’ve been growing fast, on pace to triple in 2023! Lifecycle marketers clearly see great value in automated experimentation, and we want to build on this momentum.

To do this, we’ll continue investing in our product. This includes:

  • More integrations to marketing automation platforms and data systems (warehouses, customer data platforms)

  • Expanding our self-serve and content generation capabilities

  • Further developing our reinforcement learning models and infrastructure

These investments will make OfferFit even more powerful and easier to deploy.

We’re really excited about our lead investor, JP Sanday with Menlo Ventures.

Before he was an investor, JP was a marketer. He understands OfferFit on a deep level, since he’s personally experienced the problem we’re solving.

We guess not a lot of founders would say this about their investors, but we also really appreciated how thorough JP and his team’s diligence on OfferFit was. Menlo carefully and thoughtfully analyzed each aspect of the business, which gave us confidence that they understand what we’re building and are partnering with us in an intentional way.

Ridge Ventures and Capital One Ventures also join the round.

We’re pleased to welcome two additional great firms to the fold with this round.

Alex Rosen with Ridge Ventures is joining as a board observer; he and his firm have a lot of relevant experience in marketing technology, including as early investors in Braze.

Capital One Ventures is participating in the round following Capital One’s success with OfferFit. This is very meaningful to us, since Capital One is incredibly well respected for their expertise in marketing and the strength of their marketing organization.

A big thank-you to our prior investors, including Canvas Ventures, Harmony Ventures, Carbide Ventures, Alumni Ventures Group, and Burst Capital.

These five firms are our prior largest investors, and also participated in this Series B financing. We’ve been incredibly lucky to have their counsel and support throughout OfferFit’s growth.

What are we excited for in 2024?

We recently released a new tier of OfferFit that allows companies to get going in hours and self-serve. For now, we’ve rolled out the initial offering that supports email for companies using Salesforce Marketing Cloud or Braze, and accepts the data that lives natively in the Email Sending Platform. We’ve been seeing huge enthusiasm for this product, since it gives marketers a way to quickly and easily implement OfferFit and see impact before committing to more intensive tiers. In 2024, we’ll be working on extending the ideas of this base tier to higher tiers, giving marketers a version of OfferFit that combines high flexibility (many channels, any data, etc.) with ease of implementation and lightning fast time to value. With these enhancements, it will become easier and easier for lifecycle marketers to make the leap from A/B to AI.

We look forward to the journey and thank you along with all our investors for joining us! 

Experimentation unleashed


Ready to make the leap from A/B to AI?