Germany’s WhatsBroadcast has raised €5 million in a Series A round led by investment firm Hightech Gründerfonds and publisher Müller Medien with participation from Media + More Ventures and Wessel Management.
WhatsBroadcast is a SaaS service that allows marketers to send newsletters via messaging apps like WhatsApp, Facebook Messenger, and Telegram, handle customer support, and deploy chatbots while still being compliant with privacy regulations.
The bulk of WhatsBroadcast’s business is in German speaking countries; it supports more than 800 companies.
“Messengers are the fastest growing digital platforms and started to replace websites, email newsletters and social media in the daily communication between companies and their target audiences,” said Franz Buchenberger, CEO of WhatsBroadcast.
The Munich-based company plans to use the new funds to internationalise and expand on its chatbot features.