Total amount raised
$32.4 Millions
Latest funding date
9/1/2014
Location
Paperless Post has successfully raised funds through multiple rounds, with the last funding type being a Secondary Market round. The platform offers a range of online invitations, greeting cards, and flyers, catering to various events and celebrations.
Keep reading to explore the intricacies of Paperless Post's fundraising journey and the investors backing this innovative platform.
What Is Paperless Post?
Founded in 2009 by siblings Alexa and James Hirschfeld, Paperless Post is headquartered in New York, New York. The company specializes in digital invitations, greeting cards, and event management tools, making it easier for people to gather meaningfully.
With a team of 51-100 employees, Paperless Post offers a variety of products including Card Invitations, Flyer Invitations, and Designer Collections. Their platform also features instant RSVP tracking and guest messaging, enhancing the event planning experience.
Paperless Post continues to innovate in the online events space, providing customizable designs and advanced features for both personal and professional gatherings.
How Much Funding Has Paperless Post Raised?
- Seed Round
- Amount Raised: $1.4M
- Date: December 2009
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their digital invitation platform.
- Series A
- Amount Raised: $6M
- Date: May 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product offerings and scale operations.
- Series C
- Amount Raised: $25M
- Date: April 2014
- Lead Investors: August Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of mobile and online tools.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: September 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
Total Amount Raised: $32.4M
Current Valuation: Not publicly disclosed
Key Investors
- August Capital
- Details: August Capital is a venture capital firm that invests in early-stage and growth-stage technology companies. They led the $25 million Series C funding round for Paperless Post.
- Investment Focus Areas: Technology, software, internet.
- Notable Investments: Splunk, Seagate, Aardvark.
- RRE Ventures
- Details: RRE Ventures is a venture capital firm that focuses on early-stage technology companies. They have been an existing investor in Paperless Post.
- Investment Focus Areas: Technology, media, financial services.
- Notable Investments: BuzzFeed, Venmo, Bitly.
- SV Angel
- Details: SV Angel is a seed fund that invests in early-stage technology startups. They are known for their involvement in high-profile tech companies.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Twitter, Airbnb, Dropbox.
- Draper Associates
- Details: Draper Associates is a venture capital firm that invests in early-stage technology companies. They have a history of backing disruptive tech startups.
- Investment Focus Areas: Technology, energy, healthcare.
- Notable Investments: Tesla, Skype, Baidu.
- Ram Shriram
- Details: Ram Shriram is an angel investor and one of the early backers of Google. He has a significant presence in the tech investment community.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Google, Zazzle, StumbleUpon.
What's Next for Paperless Post?
Paperless Post stands at the cusp of significant growth opportunities, driven by the increasing demand for digital and customizable invitations. With over 45 million users and more than 100 million custom invitations sent, the company is poised to expand its mobile and online tools, enhance design features, and develop offline printing services. This expansion could potentially double their user base, tapping into international markets and broadening their audience.
Future fundraising rounds seem likely as Paperless Post continues to innovate and attract more investors. However, the company may face challenges such as competition from other digital platforms, maintaining user engagement, and ensuring data privacy. Balancing the development of both online and offline services will be crucial for sustained growth.
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