The acquisition comes a few months after vCita received around $15 million in funding from capital investment group Forestay Capital. vCita is an application that focuses on all aspects of managing a business. It offers booking, payments, customer relationship management (CRM) and marketing as its four primary services, which are targeted at small and medium sized enterprises.
Having so many services integrated in one app saves cost overhead and creates synergies between these different tasks. Adding more services will create even greater value, so it’s little surprise that vCita has begun making acquisitions to enhance their product.
vCita has targeted the marketing arm of their portfolio of services as an area with room for growth, and the acquisition of WiseStamp will allow them to develop that offering.
WiseStamp gives their users the ability to completely customise their email signatures. Email marketing is the cornerstone of many online marketing strategies and the signature that follows every email you send is prime marketing real estate. Rather than informing customers of your position within your company and the fact that the email was sent from your iPhone, you can instead point them in the direction of content they might be interested in. Recently posted a video on YouTube? With WiseStamp you can include a thumbnail and a link to your video. You can also include your latest blog posts or any other content, along with links to your social media accounts.
vCita co-founder Itzik Levy confirmed the firm’s belief that email marketing remains a valuable part of the marketing mix. He said, “With all the new means of communication in recent years, email is still the most meaningful tool for small businesses, and mail signatures still offer a great space for business promotion.”
vCita will be gaining more than just WiseStamp’s technology. They will also be gaining access to WiseStamp’s 50,000 users. vCita has more than 100,000 users, however gaining access to 50,000 customers who have a proven interest in a marketing tool will provide significant value. They will also gain the services of WiseStamp’s 20 employees, including two of the founders.
The amount paid for the acquisition of WiseStamp remains undisclosed. The $15 million dollars that vCita has received in funding takes the total investment in the start-up firm to around $30 million dollars. In contrast, WiseStamp has received $400,000 in funding throughout its decade in existence. Becoming part of a much larger service and potentially much larger business provides new opportunities for WiseStamp.
WiseStamp co-founder, Orly Izhaki said, “Over the years, WiseStamp created advanced solutions that enable hundreds of thousands of small enterprises to grow their business online. We are excited about the merger, which will establish us as one of the most dominant players in the SMB market.”
Indeed, the merger will potentially treble WiseStamps user base. More than a billion emails have already been sent with WiseStamp, but with the software now integrated into vCita’s offering, you can expect to see plenty more emails with engaging signatures.