W&F Issue 4 2018

Wealth & Finance International - Issue 4 2018 5 Increases Series D funding to $52 million; expands footprint to meet regional demand. Leanplum Accelerates Growth in Asia Pacific and Adds New Chinese Investor Leanplum, the leader in mobile engagement, recently announced an add-on raise from Beijing-based private equity firm Waterwood Group to scale and fuel growth in China and the greater Asia Pacific (APAC) region, bringing their Series D total financing to $52 million. Leanplum continues to gain momentum across APAC, where the region’s most innovative brands rely on its platform to drive mobile growth and deeper customer relationships. “Chinese consumers demand a best- in-class mobile experience, however, companies in China are underserved in terms of sophisticated marketing technology,” said Waikit Lau, partner, Waterwood Group. “We were espe- cially impressed with Leanplum’s A/B testing and data analytics capabilities because it quickly delivers value to brands in a highly competitive market. In order to meet the exponential growth in mobile usage, Chinese brands are hungry for the real-time insights and personalization at scale that only Leanplum provides. We look forward to working together to build the future of the Chinese market.” This investment highlights the growing opportunity for brands to reach mobile consumers across APAC. According to GSMA, more than half the world’s mobile subscribers live in Asia Pacific, and China will account for 21 percent (or 155 million) of the approximately 753 million new mobile subscribers expected be added globally by the end of 2020. “APAC is at the forefront of mobile adoption, and the potential for Lean- plum to help brands across the region reach such a highly-engaged mobile generation who are on their phones 24/7, is truly exciting,” said Momchil Kyurkchiev, CEO and co-founder, Leanplum. “We’re thrilled to partner with Waterwood because they share our vision for transforming mobile en- gagement for the modern marketer.” APAC’s most prominent mobile apps lean on Leanplum to power their marketing campaigns, including: • Liven, Australia’s #1 payment & loyalty platform; • Lomotif, Singapore-made social video app; • ofo, station-free bike sharing platform and mobile app based in Beijing; • TMON, leading Korean e-com- merce company, often referred to as the ‘Amazon of South Korea.’ Leanplum is expanding its footprint across APAC and making strategic new hires to meet growing demand in key markets such as China, Australia, Indonesia, and Japan. Julio Bermú- dez, formerly of Optimizely, was hired to lead sales and operations from Leanplum’s regional headquarters in Singapore. He has grown the team more than 400 percent in recent months, drawing key talent from Adobe, Asics, and Salesforce. The company is focused on building a great work culture in its offices around the world, and was recently recognized as one of Fortune’s Best Companies to Work For and Best En- trepreneurial Companies in America by Entrepreneur magazine. Leanplum is building the next gener- ation marketing cloud, leveraging the unique power of mobile to help brands drive deep and meaningful customer relationships. Capturing more than 18 billion mobile data points daily and delivering over 50 million messages every hour, the Leanplum platform provides the real-time insights and capabilities to help marketers deliver in-the-moment engagement and build meaningful customer relationships. PenFed to match partner donations up to $1 million. PenFed Foundation Launches Veteran Entrepreneur Investment Program On the 19th April 2018, the PenFed Foundation announced the launch of its new Veteran Entrepreneur Investment Program (VEIP). Through Foundation contributions and match- ing funding of up to $1 million from PenFed Credit Union in 2018, the program will: provide veteran-owned start-ups with seed capital to build and grow their businesses, create a robust network for veteran-owned businesses to succeed and enable the PenFed Foundation to per- petually re-invest returns in future veteran-owned businesses. “Approximately 200,000 veterans leave active duty each year and 25 percent of them plan to start their own business. There is no shortage of talent or ideas, just capital and a powerful network of support,” said James Schenck, President and CEO of PenFed Credit Union. “PenFed is dedicated to innovating new ways to support the service men and women who fight and win our nation’s wars. Investing in veteran entrepreneurs is not only the right thing to do, it is good for the economy, will create new jobs and help businesses thrive.” The VEIP will be funded by outside donors with PenFed Credit Union matching up to $1 million in contribu- tions in 2018 to the PenFed Founda- tion in order to launch this program. The PenFed Foundation VEIP plans to invest in three to five selected businesses a year. Returns on all investments will go back into the pro- gram to support future veteran-owned business ventures. In addition to providing capital, the program leverages the power of PenFed and the PenFed Foundation’s network of more than 1,700 business partners and its respective internal human capital to provide professional advice for strategic/business planning, HR and sales expertise, marketing opportunities and other support as needed. “The Veteran Entrepreneur Invest- ment Program not only helps fund vet- eran-owned businesses, it provides them with the network of support and guidance they need to succeed,” Schenck added. “The Veterans Entrepreneur Investment Program builds on the mission of the PenFed Foundation to provide those who have served, their families and caregivers the skills and resources they need to build a strong financial future,” said Bruce Kasold, acting President and COO of the PenFed Foundation. “Veterans are tested, strong leaders who are especially mission driven. Through this program, we will enable veterans to build their own businesses, create jobs and build successful enterprises that will ultimately hire more veterans down the road. In short, the VEIP will help veterans build a strong financial future for themselves, their families and communities.” The VEIP marks a significant new area of focus for the PenFed Foun- dation, which was created in 2001. Since that time, the Foundation has provided more than $30 million in financial support to veterans, active duty service members, families and caregivers. Its key programs include: • Emergency financial assistance for veterans with disabilities • Caregiver assistance, such as childcare or educational assistance • Homeownership grants for low- to moderate-income veterans and service members to purchase their first home • Interest-free microloans for ser- vice members and reservists to combat and provide alternatives to predatory lending News