Total amount raised
$636 Millions
Latest funding date
June, 2022
Location
Postscript has successfully raised significant funding through multiple rounds, with notable investors such as OpenView and Elephant backing the company. The platform specializes in SMS marketing and sales, particularly for Shopify brands, leveraging AI to enhance customer engagement and drive revenue.
Keep reading to explore the intricacies of Postscript's fundraising journey and the investors supporting this innovative platform.
What Is Postscript?
Postscript, founded in 2018, is an SMS marketing platform based in Scottsdale, Arizona. The company was established by Adam Turner, Alex Beller, and Colin Turner. With a team of 251-500 employees, Postscript focuses on helping Shopify brands engage with customers through text message marketing.
How Much Funding Has Postscript Raised?
- Pre-Seed Round
- Amount Raised: $1.7M
- Date: March 2019
- Lead Investors: 1984 Ventures, Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the market need for SMS marketing.
- Seed Round
- Amount Raised: $4.5M
- Date: December 2019
- Lead Investors: Accomplice
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $35M
- Date: March 2021
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform capabilities.
- Series C
- Amount Raised: $65M
- Date: June 2022
- Lead Investors: 01 Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To release new features and empower brands with advanced SMS marketing tools.
Total Amount Raised: $106.2M. Current Valuation: Not publicly disclosed.
Key Investors
- 01 Advisors
- Details: 01 Advisors is a venture capital firm led by former Twitter executives, including Dick Costolo. The firm focuses on leveraging their operational expertise to help startups scale.
- Investment Focus Areas: Technology, software, innovative startups.
- Notable Investments: Not publicly disclosed.
- Greylock
- Details: Greylock is a well-known venture capital firm that has been investing in technology companies since 1965. They have a strong track record of backing successful startups.
- Investment Focus Areas: Technology, enterprise software, consumer internet.
- Notable Investments: Facebook, LinkedIn, Airbnb.
- Accomplice
- Details: Accomplice is a venture capital firm that invests in early-stage technology companies. They have a hands-on approach to help startups grow.
- Investment Focus Areas: Early-stage technology, cybersecurity, digital health.
- Notable Investments: AngelList, Carbon Black, DraftKings.
- 1984 Ventures
- Details: 1984 Ventures is a seed-stage venture capital firm that focuses on investing in technology startups. They aim to support founders with bold visions.
- Investment Focus Areas: Technology, fintech, enterprise software.
- Notable Investments: Not publicly disclosed.
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups since 2005. They provide seed funding, mentorship, and resources to help startups succeed.
- Investment Focus Areas: Technology, biotech, consumer internet.
- Notable Investments: Dropbox, Airbnb, Stripe.
What's Next for Postscript?
Postscript stands at the cusp of significant growth opportunities, driven by the rapid expansion of SMS marketing. With over 8,000 brands on Shopify already leveraging their platform, the potential to introduce innovative features and empower brands to engage customers in new ways is immense. The SMS marketing channel, noted for its 25X return on investment, continues to grow, presenting a vast market for Postscript to capture.
Future fundraising seems likely as Postscript aims to scale its operations and develop new features. The recent $65 million Series C funding round underscores investor confidence, suggesting that additional rounds could support further innovation and market expansion. However, challenges such as keeping up with evolving SMS marketing trends and ensuring compliance with regulations will require strategic navigation.
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