Urban Airship, the Portland mobile marketing startup that helps companies such as ESPN, Groupon, Waze and others with push messaging, has reeled in $25 million in fresh funding in a deal led by August Capital. Existing investors, including Foundry Group, Intel Capital, True Ventures, Founder’s Co-op and Verizon, also participated.
Total funding in the company, which recently acquired Tello’s PassTools, now stands at $46.6 million.
CEO Scott Kveton tells All Things D that Urban Airship is aiming for profitability in the first quarter of next year, with a plan to continue its acquisition spree. The company’s revenue grew by 400 percent last year as more clients turned to Urban Airship’s technology to add customer and location-targeted push messaging to apps.
“The pace of smartphone and tablet adoption is faster than any other technology, and Urban Airship has proven its ability to offer the largest organizations in the world the type of precision-targeting necessary to reach mobile consumers in relevant and meaningful ways,” said John Johnston, co-founder and partner at August Capital.
The deal marks the latest big financing deal for a Portland startup, following a $33 million round for JanRain and a $30 million round for Puppet Labs. With the Urban Airship deal, Portland is nearing $100 million in venture capital financing this quarter, which compares to just $24 million in the entire fourth quarter.