The French Front Raise $ 3.1 Million in the United States
“At the end of the Y Combinator (during the Demo Day), we presented Front in front of hundreds of investors (VCs and business angels). Those who were interested contacted us again the following days. It took us three weeks between the decision to raise funds and the final closure, ”explains Mathilde Collin, co-founder with Laurent Perrin de Front, to Frenchweb. The start-up has just raised 3.1 million dollars (2.46 million euros) from SoftTech VC, BOLDStart, Point Nine Capital, Caffeinated Capital and from business angels including Hiten Shah of Kissmetrics, Jason Lemkin of Echosign, Dave Morin and Elad Gil. Paul Buchheit, creator of Gmail, Geoff Ralston, former product manager at Yahoo !, and Jeff Bonforte, of Yahoo Communication, are also among the investors.
Centralize e-mail management
The company publishes a collaborative e-mail management solution. As we explained it in august, it makes it easier to designate the most appropriate person to respond to an email sent to a generic company address (example: marketing department, human resources department, etc.), or even to avoid endless transfers of e-mail. -mails internally between employees. The latter can, from the software marketed in Saas, directly comment on e-mails in a centralized and organized manner. A notification center then allows you to be kept informed of the latest activities, avoiding constant back and forth in the inbox.
Running on Mac, Windows and mobile, the platform also includes a tool to share with other employees the answers to the most frequently asked questions and thus save time. Admin can then get detailed analytics about email usage.
45% of customers in premium formula
If one thinks of course of uses in terms of customer service, the software is also used by law firms who wish to collaborate on their cases, marketing and design agencies. Among its clients is the newsletter editor Mailschimp to coordinate the activities of its development team.
Marketed as a service, the solution is offered for the most basic functions, then billed at $ 29 per month (plus $ 9 per additional user) for 5 inboxes and email tracking, and $ 99 per month (and $ 19 per additional user) for the unlimited version in mailboxes with, in addition to the previous options, analysis reports and the installation of automated rules. In the end, “15% (of customers, editor’s note) are on the free plan, 40% on the $ 9 per user plan and 45% on the $ 19 per user plan” specifies Mr. Collin. With this economic model, Front claims a growth in its turnover of 10% to 15% every week.
Head to The City by the Bay
Initially launched in France at the start-up studio eFounders 18 months ago, the two co-founders moved their business to San Francisco when they joined the Y Combinator incubator, whose partners participated in the fundraising.
“Our competitors are messaging systems (Gmail, Outlook), customer support software (Zendesk or Desk). In this context, our strategy is to keep an extremely simple interface, to build an excellent mobile application, to develop integrations with other software and to grow the sales and marketing team ”.