Postscript has successfully raised $104.7 million over four funding rounds, achieving a valuation of $636 million. The platform specializes in SMS marketing automation for e-commerce stores, offering tools to engage, retain, and convert customers through personalized messaging.
Keep reading to explore the intricacies of Postscript's fundraising journey and the investors backing this innovative platform.
What Is Postscript?
Postscript, founded by Alex Beller and Colin Turner, specializes in SMS marketing automation for e-commerce stores. The company operates fully remotely across North America, emphasizing a highly entrepreneurial culture and rapid growth.
With a focus on being product-first and customer-centric, Postscript helps e-commerce businesses engage, retain, and convert their customer base through SMS. Their platform is designed to deliver significant ROI for clients.
Currently, Postscript employs between 201-500 people, offering various benefits including health insurance, flexible PTO, and remote work opportunities.
How Much Funding Has Postscript Raised?
- Seed Round (First)
- Amount Raised: $150,000
- Date: January 2019
- Motivation Behind the Round: To develop a minimum viable product (MVP) and validate the business idea.
- Seed Round (Second)
- Amount Raised: $4,500,000
- Date: December 2019
- Lead Investors: Accomplice
- Motivation Behind the Round: To help Shopify stores stay connected with customers over SMS, focusing on opt-in, legally compliant, and spam-free communication.
- Series B
- Amount Raised: $35,000,000
- Date: March 2021
- Lead Investors: Greylock
- Motivation Behind the Round: To expand the product's capabilities from one-way broadcasting to more two-way interactions, enabling features like re-orders, subscription management, and reviews through SMS.
- Series C
- Amount Raised: $65,000,000
- Date: June 2022
- Lead Investors: 01 Advisors
- Valuation at Round: $636M
- Motivation Behind the Round: To expand operations, business reach, and extend the development platform.
Total Amount Raised: $104.7M
Current Valuation: $636M
Key Investors
- Y Combinator
- Details: Y Combinator is a renowned startup accelerator that has funded numerous successful startups. It provides seed funding, mentorship, and resources to early-stage companies.
- Investment Focus Areas: Early-stage startups, technology, healthcare, consumer products
- Notable Investments: Airbnb, Dropbox, Stripe
- Greylock
- Details: Greylock is a leading venture capital firm that invests in early-stage companies. It has a strong track record of backing successful technology startups.
- Investment Focus Areas: Technology startups, enterprise software, consumer software
- Notable Investments: LinkedIn, Facebook, Airbnb
- 01 Advisors
- Details: 01 Advisors is a venture firm led by former Twitter executives Dick Costolo and Adam Bain. The firm focuses on leveraging their operational expertise to help startups grow.
- Investment Focus Areas: Technology, innovative companies, general venture investments
- Notable Investments: Not specified
- Accomplice
- Details: Accomplice is a venture capital firm that invests in early-stage technology companies. The firm has a hands-on approach to helping startups succeed.
- Investment Focus Areas: Early-stage technology companies, SaaS, consumer products
- Notable Investments: AngelList, Carbon Black, DraftKings
- Twilio Ventures
- Details: Twilio Ventures is the investment arm of Twilio, a cloud communications platform. The firm invests in companies that align with Twilio's mission and technology.
- Investment Focus Areas: Cloud communications, technology, SaaS
- Notable Investments: Not specified
What's Next for Postscript?
Postscript stands at the cusp of significant growth opportunities, driven by the increasing importance of SMS marketing in e-commerce. With $65 million raised in Series C funding, the company plans to expand its operations and business reach, leveraging its collaboration with over 8,500 brands on Shopify. The potential for growth is immense, as the e-commerce sector continues to embrace personalized and direct communication with customers through SMS.
Future fundraising opportunities seem promising, given the substantial market confidence demonstrated by high-profile investors like 01 Advisors and Twilio Ventures. However, Postscript will need to navigate challenges such as competition from other SMS marketing platforms and ensuring compliance with privacy regulations. Balancing effective marketing with avoiding the perception of spam will be crucial as they scale their operations.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Postscript and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
