Startup Talkable attracts USD 2mln

Startup Talkable attracts USD 2mln

Go Ahead Ventures became a leading investor of the next investment round for the US Talkable owning R&D department in Ukraine

Talkable plans to channel the raised funds in order to increase sales and marketing activities. In particular, it relates to the sales office in New York and a sizable increase in the staff personnel of developers in Kyiv.

Startup Talkable was created in 2011 by Alan Grant from the USA. Talkable is an ecommerce service that allows its customers to attract new customers through the existing user base. To do this, Talkable shows users a so-called referral program in the form of pop-ups 'Offer it to a friend and get a discount'. The startup customers include more than 60 companies, to name a few like Crate & Barrel, Gymboree,, Shutterfly and TOMS Shoes.

The company mainly developed at its own expense. And after reaching a point at operating not at a loss, an annual growth made up to 70%. As of present, the company's revenues amount to USD 5mln a year.  Apart from the last round, the startup attracted only $ 1.7 million from third-party funds, most of which came from Y Combinator.

Talkable has two offices in San Francisco and Kyiv. There are 26 employees in the Kiev office accounting to 60% of the total staff. After the investment round, the management plans to increase the Ukrainian team to 45 people. Part of the Talkable business team has also recently been concentrated in Ukraine. As a rule, management has a vague idea of the place where developers sit, and now it is the other way about in Talkable, told the press secretary Lesia Arnold. 

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