November 27, 2012
Boston-based PowerInbox announced today that it will be merging with ActivePath, a leading provider of interactive email in the enterprise space. PowerInbox just completed a $10M funding round led by Atlas Venture, Longworth Partners, Battery Ventures, Genesis, GIMV, and Correlation.
“We see email as ripe for innovation and believe both companies are bringing complementary experience to exploit this huge opportunity,” said Scott Tobin, Partner at Battery Venture and PowerInbox Board Member. “Putting the teams together just makes sense and is a great way to establish the industry standard for interactive mail.”
The combined company will still be called PowerInbox and will have a presence in Silicon Valley, New York, and Israel. This merger brings together complementary skill sets. While ActivePath has a large install base and extensive experience within the enterprise space, PowerInbox enjoys a strong product and brand loyalty within the consumer space.
ActivePath CEO, Jeff Kupietzky, will serve as CEO of the newly combined company. PowerInbox founders Matt Thazhmon, Dileep Thazhmon, and Lance Jackson will continue in management, with a focus on product development and innovation in email.
Email is a large and growing market, with $27.5B being spent on email yearly. The market is projected to grow at 18.5% annually and provides a huge opportunity for innovators looking for a challenge: less than 1% of the 144.8B emails sent daily are acted upon.
The revamped PowerInbox plans to focus on bringing interactive email mainstream and fundamentally changing the way people communicate over email. PowerInbox interactive emails experience an engagement rate that is three times higher than that of static email.
We've watched PowerInbox grow from an early-stage startup, to a well-established company in the email space, participating in our Tech Cocktail Boston Mixer & Startup Showcase along the way. The ActivePath merger, coupled with the new round of funding, is sure to mark an exciting new chapter for PowerInbox.
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