Intercom raises an additional $50 million to expand product and double workforce

Irish-founded customer communication platform Intercom has raised $50 million from Index Ventures. Previous investors ICONIQ Capital, Bessemer Venture Partners, and Social Capital also participated in the round.

The new funding, which brings its total funding to $116 million, will be used to hire more staff in its San Francisco and Dublin offices as well as investing in building new products.

The company added that it will not be seeking any further funding to reach profitability.

In an interview with this week, co-founder Des Traynor said Intercom was intending to double its staff numbers in the coming year. It will add 100 jobs in its Dublin location, where the product is built, with engineering and design roles.

The company has more than 10,000 paying customers and has quadrupled its revenues, according to a statement.

“We’ve been really fortunate at Intercom that our core focus on product continues to pay off,” said CEO Eoghan McCabe. “Unlike conventional software companies, the strength of our technology has generated incredible organic revenue growth, meaning we don’t have to pump a ton of capital into sales and marketing. We can continue to focus on building product to help businesses communicate with their customers in a more personal way.”

Ilya Fushman, partner at Index Ventures and former head of product at Dropbox, said Intercom’s platform is solving a fundamental problem for online businesses in how they communicate with their customers.

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