Building community for an enterprise company requires more than hosting a few meetups and mailing out swag. The consumer world realized that when you foster a passionate fanbase, it's easier to create brand awareness, organic word-of-mouth growth, and consumer loyalty. Community is a moat! As technology gets commoditized, b2b and b2c companies are realizing that by staying in closer touch with and interconnecting their community, they gain defensibility as customers help spread the word, increase usage, and stick with the product. Digitally native Millennials and Gen Zs are becoming a large percentage of the corporate world. They deserve tools for building community with customers that are as convenient as the apps they use in their consumer lives.
That's why we got so excited when we metCommsorand its CEO Mac Reddin at the beginning of 2020. His vision is to build Commsor into the operating system for all things community and enable the consumerization of enterprise go-to-market strategies. Commsor goes beyond just building software by living and breathing community with theirCommunity Clubfor community professionals, education programs for community builders and executives, and extensive resource library for the entire industry.
We are thrilled to have been a part of their journey since pre-seed, and to be participating in today's $16M Series A financing led by our friends at Felicis Ventures and Seven Seven Six.
It's now clear that community is the future and an absolutely critical piece of powering customer networks, scaling businesses, and building brands in ways that traditional marketing or advertising channels can't. Community powers customer acquisition, engagement, retention, and expansion when done correctly, but the problem is that building community is hard. It's a function that is often wildly understaffed within a company, derided as merely an intern-level position, and fragmented among many channels, including Slack, Meetup, Github, Mailchimp, Discourse, Twitter, and more. That means you're wrangling spreadsheets, operating off incomplete data, and ultimately not taking a data-driven approach to your community.
Commsor's platform becomes the command center for community management, pulling in data from all sources and giving professionals the ability to see all community data in a single pane of glass, slice and dice data to run targeted campaigns, and measure ROI on various initiatives. Just as functions like marketing, sales, and customer support have become increasingly data-driven and more important functions in b2b organizations, community will follow suit. Commsor provides a new set of tools for community teams to effectively manage their work. Its software suite will facilitate a shift in other teams' workflows and KPIs in support of community, just as marketing KPIs are often in support of sales.
As Commsor sprints ahead, they've been able to leverage SignalFire's Beacon platform and the in-house recruiting experts to rapidly scale the team bring in some phenomenal talent such as their new Head of Product. "SignalFire has quite literally been a game changing partner for us" tweeted Reddin. "The entire team are some of the kindest, down to earth, and most helpful people I know". With the next phase of the business, our Lantern programs will help Commsor spread their thought leadership among industry leaders and bring potential customers around the table.
In the coming years, we believe that winning companies will take a community-first approach, and Commsor is well-positioned to provide all the core infrastructure and services needed to do that successfully. The team's passion for community and laser-focused vision on educating the market through initiatives like C School -- the first-ever career-change program for aspiring community managers -- and the Community-Led Declaration that they've developed and co-signed with dozens of leading founders will usher in a friendlier age of enterprise marketing.