Intercom Revenue, Valuation, Funding & Investors
Intercom is valued at $1.3B as of March 2018, a 3.2x multiple on its last reported $400M revenue.
Last Intercom valuation
$1.3B
Series D · Mar 2018
Last Intercom funding round
Undisclosed stage
Amount undisclosed · Feb 2021
Intercom revenue
$400M
Series D · Mar 2018
Key investors in Intercom
Bessemer Venture Partners
Social Capital
ICONIQ Capital
GV
Index Ventures
Kleiner Perkins
About Intercom
Intercom is a customer messaging platform used by organizations like Atlassian, Amazon, and Lyft from its San Francisco headquarters. The company enables automated support, targeted messaging, and personalized interactions at scale for global customer service teams. Its tools integrate chatbots, email automation, and analytics to streamline resolutions and boost engagement across web and mobile channels.
Founded
2011
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$400M (Mar 2018)
Valuation
$1.3B (Mar 2018)
Intercom Valuation
Intercom is currently valued at $1.3B, based on its Series D in March 2018.
The $125M round was led by Kleiner Perkins, with participation from ICONIQ Capital, GV, Bessemer Venture Partners and Vulcan Capital.
Intercom's valuation has grown 16x from $81M at its Series B in January 2014 to $1.3B in March 2018, across 3 priced rounds.
Intercom valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Mar 2018 | Series D | $1.3B | 3.2x |
| Aug 2015 | Series C | $291M | - |
| Jan 2014 | Series B | $81M | - |
Intercom Revenue
Intercom's latest recorded revenue is $400M, as of its Series D in March 2018. At a $1.3B valuation, that implies a 3.2x revenue multiple.
Intercom revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Mar 2018 | $400M | $1.3B | 3.2x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Intercom Funding History
Intercom has raised a total of $239M across 6 funding rounds.
Intercom's first fundraising round was a $6M Series A in June 2013. The most recent completed round was a undisclosed-stage round in February 2021.
Intercom funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2021 | Undisclosed stage | Sprints Capital | - | - | Sprints Capital announced a minority investment in Intercom in February 2021, taking a position in the Dublin-founded customer communications software company. The firm said it was investing at a point when Intercom was showing strong momentum in its move upmarket from small businesses towards larger enterprise accounts, and it described the business as a category-defining customer communication platform. Neither the size of the stake nor the structure of the transaction was published, and Intercom did not announce a priced financing round at the time. Intercom sells a messenger-first platform that spans live chat, help desk, bots, an app ecosystem and a full ticketing product, integrating with external customer data platforms so support and marketing teams can automate customer engagement across the customer lifecycle. The company was founded in Dublin in 2011, is headquartered in San Francisco, and had grown to more than 30,000 paying customers across industries by the time of the investment, largely through product-led adoption rather than outbound sales. Intercom later rebranded as Fin around its AI customer service agent. |
| Mar 2018 | Series D | Kleiner Perkins (lead); ICONIQ Capital; GV; Bessemer Venture Partners; Vulcan Capital | $125M | $1.3B | Intercom is a San Francisco-based (with significant operations in Dublin) customer messaging platform that enables businesses to communicate with customers through channels like live chat, email, and social media, targeting sales, marketing, and support teams. The platform unifies customer data and offers tools for acquisition, engagement, and support, helping companies replace multiple point solutions. At the time of the Series D round, Intercom served over 25,000 paying customers including Shopify and Sotheby’s, supported about 500 million customer conversations monthly, and claimed customers saw 82% increases in conversion rates and sales. On March 27, 2018, Intercom raised $125 million in a Series D funding round led by Kleiner Perkins, with participation from GV (Google Ventures), ICONIQ Growth, Bessemer Venture Partners, Index Ventures, and Vulcan Capital, bringing total funding to $241 million. The post-money valuation was $1.275 billion, establishing Intercom as a unicorn. Kleiner Perkins' Mary Meeker led the investment and joined as a board observer. Proceeds were earmarked for expanding research and development, particularly in machine learning and AI-driven automation features, enhancing functionality for larger enterprises, and scaling teams globally. Plans included growing from 500 to about 850 employees over 17 months, with new offices in Sydney and expansions in California, Chicago, London, and Dublin. This round followed prior raises including a $50 million Series C1 in 2016 led by Index Ventures. The funding reflected strong investor confidence from Silicon Valley heavyweights, positioning Intercom to accelerate growth in the evolving customer communication space amid shifting consumer preferences toward messaging over email. |
| Apr 2016 | Series C | Index Ventures (lead); ICONIQ Capital; Jack Dorsey; Stewart Butterfield; Bessemer Venture Partners; Social Capital; Mark Zuckerberg; John Collison; Jason Fried | $50M | - | Intercom is a customer communication platform offering products for website chat, marketing, and customer support, enabling businesses to integrate messaging across their operations. In April 2016, it raised $50 million in a Series C round led by Index Ventures, with participation from Iconiq Capital, Bessemer Venture Partners, and Social Capital, bringing total funding to $116 million. The company reported that its headcount had doubled to 250 employees and revenue had quadrupled into the tens of millions of dollars over the past year, with over 10,000 paying customers including Expensify, Trunk Club, Rackspace, and IBM. Intercom emphasized heavy investment in product development, spending 85% of revenue and 50% of headcount on R&D, and stated it was fully funded to reach profitability without needing further capital. |
| Aug 2015 | Series C | ICONIQ Capital (lead); 137 Ventures; Bessemer Venture Partners; Social Capital | $35M | $291M | Intercom is a customer communication platform designed to make internet business personal, offering a suite of integrated products for sales, marketing, product, and support teams. Founded in 2011 by an Irish team in San Francisco, it contrasts with traditional point solutions by providing a unified platform for personalized customer interactions at scale. In August 2015, Intercom raised $35 million in its Series C round led by ICONIQ Capital (also referred to as ICONIQ Growth), with participation from Social + Capital Partnership (Social Capital) and Bessemer Venture Partners, bringing total funding to approximately $66 million. The post-money valuation for this round was $290.71 million, with an issue price of $13.64. The company reported strong growth metrics around the time of the round, including revenues that grew 5x in 2014 and were projected to grow nearly 100x by the end of 2015 since its Series A in June 2013. It had nearly doubled headcount to over 140 employees by mid-2015 and served 7,000 paying customers across over 85 countries, including startups like General Assembly, ZenPayroll, and Invision, as well as public companies like Ancestry.com, New Relic, and Shopify. Customers used the platform to communicate 3 million times per day with over 250 million end-users. Funds from the Series C were earmarked for heavy investment in building new and existing products on the Intercom platform, global expansion by doubling headcount again over the next 12 months, and enhancing core messaging, analytics, and engagement tools for customer support teams. This round accelerated Intercom's trajectory, leading to a follow-on $50 million extension in April 2016 led by Index Ventures, which brought total funding to $116 million at a post-money valuation of $510.3 million, amid continued revenue growth into the tens of millions and expansion to over 10,000 paying customers. |
| Jan 2014 | Series B | Bessemer Venture Partners (lead); Social Capital | $23M | $81M | Intercom, founded in 2011 in Dublin, Ireland, develops a customer relationship management (CRM) platform enabling personalized customer responses online, targeting sales, marketing, and support teams to build stronger relationships and drive growth. The company positions itself as a more social alternative to incumbents like Oracle, SAP, and Salesforce, emphasizing innovative product features for internet businesses. By January 2014, Intercom had grown to 47 employees in Dublin and served 2,000 clients worldwide, including Hootsuite, Heroku, and Visual.ly, with double-digit monthly growth driven by word-of-mouth without dedicated sales or marketing staff until recently. On January 22, 2014, Intercom raised $23 million (listed as $22.75 million in some records) in a Series B round led by Bessemer Venture Partners, with participation from prior investor Social+Capital Partnership, bringing total funding to $30 million ($31.27 million raised to date). Bessemer partner Ethan Kurzweil joined the board alongside Mamoon Hamid, Des Traynor, and CEO Eoghan McCabe. The funds were earmarked for product development, particularly in mobile, marketing expansion, and scaling headcount to 100 people. The round valued Intercom at a post-money valuation of $81.4 million, with an issue price of $4.89 per share. Intercom also announced the hiring of Mark Woolway as COO, bringing experience from PayPal (raising funds and IPO), Clarium Capital, and Yammer (sold to Microsoft for $1.2 billion). Founders highlighted the company's focus on product innovation over traditional business models, charging directly for usage with ambitions to become a $1 billion business at the center of customer communication for internet companies. |
| Jun 2013 | Series A | Social Capital (lead); David O. Sacks; Freestyle Capital | $6M | - | Intercom is a customer communication platform that helps online businesses connect with customers in a personalized way. The company announced a $6 million Series A round in June 2013 led by venture capital firm Social Capital, with participation from Freestyle Capital and David Sacks, founder and CEO of Yammer. The round was aimed at scaling the business and enhancing product features, with most funding directed toward product improvement and expansion of the company's service team. At the time of the Series A, Intercom had just under 2,000 paying companies using its platform and reported annual revenue in the millions, with double-digit monthly growth rates. The company's customer base included both small teams and larger enterprises like Heroku and HootSuite, with engagement metrics showing 65% of monthly active users logging in weekly. |
Who has invested in Intercom?
16 investors have backed Intercom across its funding rounds, including Bessemer Venture Partners, Social Capital, ICONIQ Capital, GV, Index Ventures and Kleiner Perkins.
Lead investors include Kleiner Perkins, Index Ventures, ICONIQ Capital, Bessemer Venture Partners and Social Capital.
Intercom Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Lead | Jan 2014 | |
| San Francisco, CA | 4 | Lead | Jun 2013 | |
| San Francisco, CA | 3 | Lead | Aug 2015 | |
| United States | 1 | Participant | Aug 2015 | |
 London | 1 | Lead | Apr 2016 | |
| San Francisco, CA | 1 | Lead | Mar 2018 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} David O. Sacks | San Francisco, CA | 1 | Participant | Jun 2013 |
| San Francisco, CA | 1 | Participant | Mar 2018 | |
| Jack Dorsey | San Francisco, CA | 1 | Participant | Apr 2016 |
| London | 1 | Participant | Feb 2021 | |
| Stewart Butterfield | San Francisco, CA | 1 | Participant | Apr 2016 |
| Seattle, WA | 1 | Participant | Mar 2018 | |
| United States | 1 | Participant | Jun 2013 | |
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Start Free TrialInvestments by Intercom
Intercom has invested in 1 company to date.
Latest investment by Intercom was on April 27th 2023. Intercom invested in Ctrl in their $9M Seed round.
Latest Investments by Intercom
| Description | Ctrl is a Tel Aviv-based sales enablement platform founded in 2021 that unifies customer data from CRM, email, and support tools into custom dashboards. Sales teams access 360-degree customer views for faster opportunity tracking and task automation. Ctrl integrates with Salesforce, HubSpot, and Gong, serving B2B companies in Israel and the U.S. with no-code workspace builders. |
| HQ Country |  |
| HQ City | Tel Aviv |
| Deal Date | 27 Apr 2023 |
| Round | Seed |
| Raised | $9M |
| Investors | Jibe Ventures; Celonis; Slack; LocalGlobe; DIG Ventures; Mandeep Singh; Earlybird VC |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Intercom investments and their VC round multiples. Start Free Trial | |
Intercom Competitors
Intercom competitors include listed companies like Teamviewer and Bandwidth, and private ones like Teamworks, Mural, Podium and Scribe.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Durham, NC | Private | - | - | $1.2B | - | |
| San Francisco, CA | Private | $125M | - | $2B | 16.0x | |
| Salt Lake City, UT | Private | $100M | - | $3B | 30.0x | |
| San Francisco, CA | Private | $15M | - | $1.3B | - | |
 Germany | Publicly listed | $860M | $310M | $1.2B | 2.5x | |
| United States | Publicly listed | $754M | $39M | $1.6B | 2.3x |
Intercom Public Comps
Intercom is still privately-owned, but its public comps include Teamviewer, Bandwidth, Weaver Network, Montnets, Cybozu, Pexip, Vercom, Truecaller, Tanla Platforms and Enghouse Systems.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $860M | $310M | 2.5x | 2.5x | 7.0x | 5.9x | |||
| $754M | $39M | 2.7x | 2.3x | 51.2x | 17.3x | |||
| $341M | $43M | 4.4x | 4.2x | 34.6x | 28.3x | |||
| $389M | ($17M) | 2.5x | - | (55.5x) | - | |||
| $241M | $84M | 3.4x | 3.1x | 9.8x | 9.2x | |||
| $118M | $29M | 6.6x | 5.7x | 26.6x | 18.6x | |||
| $125M | $34M | 5.9x | 5.2x | 21.8x | 18.2x | |||
| $195M | $61M | 3.2x | 3.4x | 10.2x | 11.8x | |||
This data is available for Pro users. Sign up to see all Intercom competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Intercom
| When was Intercom founded? | Intercom was founded in 2011. |
| Where is Intercom headquartered? | Intercom is headquartered in San Francisco, CA, United States. |
| Is Intercom publicly listed? | No, Intercom is a private, VC-backed company. |
| What is Intercom's valuation? | Intercom was last valued at $1.3B in its Series D in March 2018. |
| How much funding has Intercom raised? | Intercom has raised $239M across 6 funding rounds. |
| What was Intercom's last funding round? | Intercom's last funding round was a undisclosed-stage round in February 2021. |
| Who are Intercom's investors? | Intercom's investors include Bessemer Venture Partners, Social Capital, ICONIQ Capital, 137 Ventures, Index Ventures, Kleiner Perkins, David O. Sacks, GV, Jack Dorsey, Sprints Capital and 6 others. |
| What is Intercom's revenue? | Intercom's latest recorded revenue is $400M (March 2018). |
| What is Intercom's revenue multiple? | Intercom's latest valuation implies a 3.2x revenue multiple ($1.3B valuation on $400M of revenue). |
| Which companies are comparable to Intercom? | Companies comparable to Intercom include Teamworks, Mural, Podium, Scribe, Teamviewer and Bandwidth. |
| How many companies has Intercom invested in? | Intercom has invested in 1 company, including Ctrl. |
| What was Intercom's last investment? | In April 2023, Intercom invested in Ctrl's $9M seed round alongside Jibe Ventures, Celonis, Slack and 4 other investors. |
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