Knak to use $25 million in funding to accelerate growth
Knak, the software as a service (SaaS) platform serving the world’s top brands, will use the money to add to its team to accelerate growth, establish a channel programme, expand its platform and increase industry awareness.
This round of funding was led by New York-based global private equity and venture capital firm Insight Partners.
To date, the company has already helped hundreds of global companies such as Citrix, Databricks, DISH Network, Slack, and two of the three largest pharmaceutical companies in the world.
With its software, Knak has greatly reduced organisations time spent on branded email and landing page creation to support their marketing campaigns. It helps enterprise marketers quickly create on-brand emails and landing pages in minutes, without the need for coding or outside help.
"Our digital campaign demands continue to grow, but finding the team, time, and budget to manage coding headaches felt like a difficult task before we found Knak," said Elizabeth Dobbs, Senior Director of Marketing at Databricks.
"Trying to ensure everything worked seamlessly with our marketing automation platform and rendered flawlessly across all screens was slow and costly. We can get new campaigns up and running in hours instead of days or weeks while ensuring brand consistency across our global, decentralised teams," she continued.
Eliminating coding constraints with Knak’s technology
Through its software, Knak eliminates coding constraints for thousands of enterprise marketers around the globe.
The company does this by working seamlessly with top marketing automation platforms (MAPs) such as Adobe Marketo Engage, Oracle Eloqua, and Salesforce Marketing Cloud.
Its SaaS platform is easy-to-use and features a drag and drop function. Additionally, it helps marketers bring emails and landing pages to market in minutes or hours.
It also scales with their enterprise needs, setting the standard for codeless campaign creation platforms.
"I'm proud of our team's bootstrapped journey from an idea in my basement to a formidable martech force boasting massive customer and revenue growth each year thanks to an incredibly talented team across Canada. Our unwavering dedication to building a product-first, customer-led company has helped us become the go-to platform for codeless digital campaign creation," said Knak Co-Founder and CEO Pierce Ujjainwalla.
"Insight Partners stood out as our ideal investment partner because the firm believes in our vision and has the software experience and extensive SaaS technology network to help us fulfil it. With the support of Insight Partners, I'm confident Knak has the capital, operating guidance, and connections needed to successfully scale our business and meet the growing market demand."
Knak: solving challenges faced by enterprise marketers
While working together at IBM, Ujjainwalla and his fellow Co-Founder, as well as the company’s COO, Brendan Farnand, faced challenges experienced by many enterprise marketers and looked to combat them.
The pair found enterprise marketers spend countless hours and tens of thousands of dollars on branded emails and landing pages to feed into their MAPs, a market expected to hit $25.1B by 2023.
Adding to this, the associated coding constraints can severely hamper marketing campaign efforts, whether they have the right in-house resources or have to rely on an agency team.
Having successfully overcome these challenges through the creation of Knak, it has become one of the fastest-growing software start-ups in Canada since its founding in 2015. The company has also recently been recognised as one of Canada’s top growing companies and one of Ottawa’s top ten places to work.