South African startup Conversio, which helps customers develop high-performing marketing campaigns, has been acquired by United States (US)-based company CM Group.
Founded in 2014 as Receiptful by WooCommerce co-founder Adii Pienaar, Conversio aims to help e-commerce brands earn more revenue.
“In today’s environment where many more businesses are able to shoot for the stars and become a venture capital unicorn, we have focused on helping brands be profitable and sustainable. At Conversio, we have always supported a business strategy where US$1 spent on marketing needs to result in at least US$2 (or more) in revenue,” Pienaar said.
This has evidently seen it achieve some success, for the company has now been acquired by the Nashville-based CM Group and rebranded as CM Commerce. Pienaar said in a blog post the startup had found the “best of allies”.
“We’re incredibly excited about the future of CM Commerce. Since joining the CM Group we have been investing heavily in the product and are excited to release our newest feature: Popups. This has been our most frequently requested feature for years, but previously we did not have the resources to invest in this. CM Group and Campaign Monitor are helping us scale and accelerate our investment in our product roadmap,” he said.
“Going forward you should thus expect more of the same, but on a much greater scale than before. CM Commerce is all about doing better, more personalised and profitable email marketing. We will continue to build a product that helps you craft the best customer experiences, create a profitable ecommerce brand and ultimately grow your revenue.”