Fastest Growing MarTech Companies in 2023
Marketing technology, or MarTech, is in a period of rapid growth, but which companies are really setting the pace? We’ve picked out three exciting but very different MarTech providers to give you a glimpse into the innovation driving this rapidly expanding industry.
Current State of MarTech
Despite 7% of MarTech companies vanishing from the 2022 landscape, the overall number of providers has grown by 11% during 2023. The fabulous graphic from chiefmartech really highlights the diversity of offerings within the space. Advertising, data management, and collaborative services all fall under the MarTech umbrella, as well as numerous other tech solutions—over 11,000 in total.
Let’s take a look at some of the fastest-growing MarTech companies disrupting this already highly innovative industry.
Wavve
Highlighting the growing interest in podcasts and other audio marketing materials, Wavve is a Korean app available worldwide that transforms audio into short videos for added reach and engagement.
This unique marTech offering has grown 2600% in the last five years, and plans to invest recent funding amounts into creating original over-the-top (OTT) streaming content for users.
Flodesk
Offering digital sales tools and email marketing solutions, Flodesk stands out from the crowd by focusing on the look and feel of direct email as well as the content. Flodesk makes high-level design and customization available to anyone, and this approach has netted them $5 million in annual recurring revenue (ARR).
This is despite receiving no traditional VC funding—a true example of bootstrapping.
Manychat
Funded to the tune of $23.1 million and boasting over a million users, Manychat offers multiple communication solutions to marketers including Instagram messaging, Facebook messenger chatbots, WhatsApp marketing, and SMS services.
The company offers its services to creators, agencies, online retailers, and restaurants, indicating some detailed target audience research has contributed to this company’s exploding growth.
Final Word
Remember, just because a MarTech innovator is growing exponentially now doesn’t mean they’ll still be around this time next year. Your tech startup should look for providers with staying power, rather than just jumping on the hottest new trend. Take HubSpot, for example. They dominate the growth hacking arena because they firmly believe in placing buyers at the heart of marketing and helping other businesses do the same.
If you want bespoke marketing advice that actually matches your tech startup’s needs, book a 15-minute introductory call and let us match you up with the right branding, messaging, or marketing support.
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