Birmingham, Alabama-based Linq has closed a $20 million Series A funding round led by TQ Ventures, with participation from a long list of investor-operators. The financing will help the company build on their innovative approach. It’s all about making business communications smarter by embedding smart AI assistants directly into the messaging apps people already use.
When you consider that Linq is already powering over 30 million messages a month, that’s a phenomenal growth rate to be experiencing. The company experienced an incredible net revenue retention rate of 295% and continued to have zero churn. Consequently, its customer base exploded up 132% from the prior quarter. On average, Linq’s customer accounts have grown by 34%, demonstrating an overwhelming appetite for the services it provides. From a wider perspective, the platform now facilitates a new agent of AI innovation that extends to 134,000 monthly active users.
Meet Elliott Potter, the founder behind Linq. The company first started out with a Sophia, a digital business card that allows sales teams to gather qualified leads. The upstart eventually made the big pivot to concentrate on narrowing the customer-business communication gap and hasn’t stopped since. True connection Linq wants to make through real conversations as the new and improved SMS. They’re transitioning further to more enriched, roamed messaging ecosystems such as iMessage and RCS. Tons of Linq’s clients wanted those blue-bubble messages, which add a touch of sparkly verification to any message, making it feel extra authentic, personal, and under control.
Linq’s mission is to help every business in the world have conversations with customers wherever they are. Such platforms can be Slack, email, Telegram, WhatsApp, Discord, and/or Signal. This objective is a natural extension of the company’s stated mission of delivering omnichannel, next-generation conversational technologies that adapt to changing market needs.
“Our vision for the platform is everything you need to build conversational tech, and that’s not limited to a few channels. Right now, we have programmatic voice, we have iMessage, RCS, SMS. That’s just the beginning,” said Elliott Potter, co-founder and CEO of Linq. “Our ambition is, wherever your customers are, you should be able to talk to them.”
This Series B funding round will enable Linq to enhance its capabilities and continue to buildout its solution. The company’s current product lineup reflects that AI has come a long way. Today it can – and increasingly does – replace conventional applications for high-volume, low-complexity tasks.
“Poke.com, along with others, have proved that AI has gotten good enough,” Potter noted. “You don’t need a traditional app anymore to do things. Really, you just need an interface that will let you talk to an intelligent enough AI, maybe connect it to some of your systems, and just tell it what to do, and give it feedback.”
Their AI-first approach provides businesses with the tools they need to easily implement AI assistants within their current messaging infrastructures. This powerful integration goes a long way in removing friction from customer communication processes in addition to improving engagement with your customers. Its mission is to help businesses of all sizes serve their clients better by making business communication as easy as texting a friend.
Andrew Marks, a partner at TQ Ventures, one of the investors in this funding round. He was bullish enough about Linq’s prospects to personally invest in it.
“Linq’s founding team is extraordinary, and we have no doubt in their ability to execute on this massive opportunity,” Marks stated.
Linq is driving a smart, disciplined growth strategy and using advanced technology in amazing ways. Such positioning allows Linq the opportunity to take bold market share in the rapidly changing world of business communication. We’re committed to helping every company deliver amazing customer experiences powered by AI. This promise will bring dozens of companies searching for innovative, smart solutions fit for our new, fast-paced digital age.