Customer engagement platform Leanplum has raised a $27 million, which the company says it will use to bolster its product development and go-to-market efforts.
Maybe just as importantly, the company also announced a major shakeup of its executive ranks. It appointed George Garrick as president and CEO, and Sheri Huston as Chief Financial Officer. Co-founder and former CEO Momchil Kyurkchiev will step into the chief product officer role.
“Many if not most startups at some point in their growth realize that a management transition makes sense as the requirements for the CEO evolve from starting and proving a company, to running and scaling it,” Garrick told us in a statement. “Leanplum’s board and founders agreed that such a transition would be appropriate as Leanplum accelerates its growth phase.”
Leanplum says about 2 billion people used apps and websites that use its services in 2019. As for the new funding, the company “The board felt it was easier and more appropriate to just extend the D round rather than move into the next letter. Also, we wanted to minimize ‘letter creep,’ ” Garrick said.