Drips, the conversational texting company in Akron, Ohio, has received a "significant" but undisclosed investment from Accel-KKR.
Drips has developed an artificial intelligence-powered platform that enables brands to engage with their audiences through "conversational texting" and scheduled calling.
The Accel-KKR investment will "fuel the next era of growth of its first-to-market conversational AI platform," the company said in a press release.
With the shift toward digital connectivity and communications, enterprises are integrating SMS into their marketing mix, and many of them are working with Drips to automate engagement with customers and prospects using SMS, the company said.
Drips' focus on empowering brands to capture intent and drive meaningful conversations has sparked rapid growth since the company was founded in 2016.
"This year, Drips will reach nearly three times our 2019 revenues — and our strong financial performance is what made this investment possible," said Aaron Christopher (A.C.) Evans, Drips' CEO, in the release.
"With Accel-KKR as our partner, we are positioned to catapult into our next phase of growth and product innovation," Evans said.
Accel-KKR, based in Menlo Park, California, is a technology-focused investment firm with over $10 billion in capital commitments.
"What sets Drips apart in the market is its ability to manage automated, two-way, humanized conversations at scale," said Greg Williams, managing director at Accel-KKR, in the release.
