It’s Merger and Acquisition Season Amid Challenging Tech Job Market.
Today, Beamer, a Boulder, Colorado-based company specializing in tools for businesses to engage with users via their applications (e.g., through push notifications), has announced its acquisition of Userflow, a startup focused on user onboarding software, for $60 million.
Beamer CEO Satya Ganni explains that this acquisition, financially supported by Arsenal Growth Equity and Camber Partners (Beamer’s lead investor), will enhance Beamer’s offerings by providing a unified toolkit for product teams.
“In the first place, current customers of Beamer and Userflow can expect this partnership to enhance the capabilities of both companies in serving their existing customer bases,” he told TechCrunch via email. “With a shared vision and demand from both customer bases, we hope that both products will continue evolving to better serve the needs of both existing and future customers.”
Founded in 2019 by Sebastian Seilund and Esben Friis-Jensen, Userflow, headquartered in San Francisco, provides a suite of modules for creating product onboarding experiences, including checklists, polls, and product tours. The platform enables developers and non-developers to integrate in-app help guides and feature announcements into new and existing apps, with a content editor supporting multimedia elements such as links, live chat, images, and videos.
One distinctive feature of Userflow is its automated triggers, allowing developers to set up actions triggered by user interactions, such as progressing through an onboarding flow. Additionally, Userflow facilitates surveys and gathers metrics that can be integrated with analytics tools like Amplitude or Mixpanel.
Prior to the acquisition, Userflow was entirely bootstrapped. Sebastian Seilund expressed pride in the achievement, noting that there are no plans to downsize the team. He emphasized the exciting opportunities that joining forces with Beamer and aligning with Camber’s vision would bring to customers.
Userflow aligns closely with Beamer’s product vision. Founded in 2017 by Mariano Rodriguez and Spencer Coon and backed by $20 million in venture capital, Beamer aims to assist teams in highlighting new features, prioritizing development, and collecting user feedback.
Beamer’s business has thrived amid a widespread focus on customer retention. According to a recent survey by OneSignal, 95% of product and marketing experts consider retention crucial for their businesses, as it significantly impacts revenue.
Competing with various product engagement platforms in the market, including Batch, which secured $23 million in funding in 2021, Beamer’s acquisition of Userflow enhances its differentiation and market positioning. With the burgeoning sector expected to reach $33.11 billion by 2028, Beamer appears poised to capitalize on this growth trajectory, up from $19.73 billion in 2023, according to Mordor Intelligence.