NEW YORK, April 24, 2023 (GLOBE NEWSWIRE) — Vitally, a leading Customer Success Platform (CSP), was named to the 2023 SMBTech 50, a list created by GGV Capital in collaboration with Crunchbase and 27 venture capital firms to recognize the growth and potential of startups that serve small and medium-sized businesses (SMBs). In celebration of the SMBTech 50 list, company honorees will ring the opening bell at the Nasdaq MarketSite today.
The SMBTech 50 list (https://smbtech50.com/) demonstrates both the breadth and depth of the sector and the enthusiasm of venture capital investors for these companies. More than 200 companies were nominated and voted on by top SMBTech venture capital investors to create the SMBTech 50, which represents a mix of early, growth and late-stage private companies.
More than 30 million small businesses in the U.S. represent 44% of GDP, about half of U.S. employment, and more than $180 billion in annual technology spending. The U.S. is also seeing a renaissance of small business and entrepreneurship, with more than 10 million new business applications submitted in 2021 and 2022. GGV Capital’s SMBTech 50 list celebrates the private, venture-backed technology companies seeking to make a significant impact on SMBs.
“Public companies in the SMBTech space have grown from just a few billion dollars of market cap to more than $500 billion over the last decade,” said Tiffany Luck, Partner at GGV Capital. “Every year, we put together this list of top private companies, and we are blown away by the level of innovation, growth, and impact they are making on the SMB economy. Congratulations to all on making this year’s list!”
“Vitally’s vision is to enable Customer Success teams to operate with greater productivity, collaboration, and visibility,” said Jamie Davidson, CEO at Vitally. “Being named to the SMBTech 50 list is further validation of this vision and a testament to the hard work of our team. We are committed to empowering businesses of all sizes with the tools they need to succeed and are proud to play a role in shaping the future of customer success.”
Vitally recently raised $30 million in Series B funding led by Next47, with new investors HubSpot Ventures and NewView Capital also participating, along with existing investor Andreessen Horowitz. Vitally is designed to combine customer data from across the stack with all of the capabilities expected from productivity tools and CSPs. This approach enables businesses to achieve unparalleled efficiency, improve net revenue retention, complete more work, and deliver best-in-class customer experiences. Vitally has gained recognition for its innovative approach and is partnering with a growing number of innovative Customer Success teams, including market leaders such as Segment, Zapier, and Gorgias.
Vitally is the first Customer Success Platform (CSP) to combine productivity and collaboration tools with essential customer data. Vitally empowers B2B Customer Success teams to increase net retention revenue (NRR), deliver the best possible customer experience, and increase their team’s efficiency. Based in New York, Vitally is backed by investors including Andreessen Horowitz, Next47, and HubSpot Ventures, and its customers include Twilio Segment, Productboard, and Customer.io. For more information, please visit https://www.vitally.io/.
About GGV Capital
GGV Capital is a global venture capital firm partnering with founders to build category-leading companies around the world. Focused on multi-stage, sector-focused investments, GGV manages $9.2 billion in investments across the U.S., China, Southeast Asia, Israel, Latin America, and India. Founded in 2000 with roots in Singapore and Silicon Valley, GGV has backed more than 500 companies, including Affirm, Airbnb, Alibaba, BigCommerce, Boss Zhipin, Bowery Farming, Brightwheel, Drata, Electric, Grab, HashiCorp, Homebase, Keep, Odeko, Opendoor Technologies, Peloton, Poshmark, Slack, Slice, Square, StockX, Wish, XPeng, Zendesk, and more. More information can be found at www.ggvc.com and @ggvcapital.
Christine Hinton, GGV Capital
Mobile: +1 415.939.0139
William Wickey, Vitally